ResMed Inc. (NYSE:RMD) Holdings Lowered by Tobam

Tobam reduced its stake in shares of ResMed Inc. (NYSE:RMD - Free Report) by 18.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,181 shares of the medical equipment provider's stock after selling 1,198 shares during the period. Tobam's holdings in ResMed were worth $1,185,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of RMD. State Street Corp raised its stake in ResMed by 1.9% in the 3rd quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider's stock valued at $1,528,590,000 after purchasing an additional 116,918 shares during the last quarter. Geode Capital Management LLC grew its position in shares of ResMed by 10.9% in the third quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider's stock valued at $939,114,000 after purchasing an additional 380,383 shares during the period. Charles Schwab Investment Management Inc. increased its stake in ResMed by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 924,047 shares of the medical equipment provider's stock valued at $225,578,000 after purchasing an additional 13,985 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in ResMed by 0.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 742,411 shares of the medical equipment provider's stock worth $181,237,000 after buying an additional 2,406 shares during the period. Finally, Nordea Investment Management AB boosted its stake in ResMed by 92.7% in the 4th quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider's stock worth $103,214,000 after buying an additional 215,561 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on RMD. Stifel Nicolaus started coverage on shares of ResMed in a research note on Friday, December 13th. They set a "hold" rating and a $250.00 price target on the stock. UBS Group raised ResMed from a "hold" rating to a "strong-buy" rating in a research report on Friday, January 31st. StockNews.com upgraded ResMed from a "hold" rating to a "buy" rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. boosted their price objective on ResMed from $270.00 to $286.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Finally, KeyCorp raised their target price on ResMed from $266.00 to $280.00 and gave the company an "overweight" rating in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $244.73.

ResMed Stock Down 0.5 %

Shares of RMD stock traded down $1.09 during trading hours on Tuesday, hitting $237.47. 270,827 shares of the company were exchanged, compared to its average volume of 986,630. The business's 50-day simple moving average is $239.06 and its two-hundred day simple moving average is $238.02. ResMed Inc. has a one year low of $170.56 and a one year high of $263.05. The stock has a market capitalization of $34.88 billion, a price-to-earnings ratio of 28.04, a P/E/G ratio of 1.57 and a beta of 0.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33.

ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. Sell-side analysts predict that ResMed Inc. will post 9.44 EPS for the current fiscal year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date is Thursday, February 13th. ResMed's payout ratio is 25.03%.

Insider Buying and Selling

In related news, insider Justin Leong sold 6,160 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $243.09, for a total value of $1,497,434.40. Following the completion of the transaction, the insider now directly owns 21,718 shares of the company's stock, valued at $5,279,428.62. This represents a 22.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the firm's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $236.77, for a total value of $1,896,290.93. Following the transaction, the chief executive officer now directly owns 455,472 shares in the company, valued at $107,842,105.44. This trade represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,307 shares of company stock valued at $4,403,180. Insiders own 0.71% of the company's stock.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.