ResMed Inc. (NYSE:RMD) Shares Sold by Tredje AP fonden

Tredje AP fonden trimmed its position in ResMed Inc. (NYSE:RMD - Free Report) by 50.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,464 shares of the medical equipment provider's stock after selling 11,463 shares during the quarter. Tredje AP fonden's holdings in ResMed were worth $2,622,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. First Horizon Advisors Inc. increased its stake in ResMed by 285.1% during the fourth quarter. First Horizon Advisors Inc. now owns 593 shares of the medical equipment provider's stock worth $136,000 after acquiring an additional 439 shares during the last quarter. Peak Financial Advisors LLC purchased a new position in shares of ResMed during the fourth quarter valued at approximately $2,972,000. Principal Financial Group Inc. boosted its position in shares of ResMed by 2.9% during the third quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider's stock valued at $45,596,000 after buying an additional 5,284 shares during the period. Retireful LLC purchased a new position in shares of ResMed during the third quarter valued at approximately $742,000. Finally, Spire Wealth Management boosted its position in shares of ResMed by 11.3% during the fourth quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider's stock valued at $2,470,000 after buying an additional 1,100 shares during the period. 54.98% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on RMD shares. StockNews.com upgraded ResMed from a "hold" rating to a "buy" rating in a research report on Saturday. Citigroup upgraded ResMed from a "neutral" rating to a "buy" rating in a report on Wednesday, March 5th. Needham & Company LLC reiterated a "hold" rating on shares of ResMed in a report on Friday, January 31st. UBS Group upgraded ResMed from a "hold" rating to a "strong-buy" rating in a report on Friday, January 31st. Finally, Stifel Nicolaus lowered their price target on ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $243.82.

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Insider Transactions at ResMed

In other news, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the sale, the chief executive officer now directly owns 455,472 shares of the company's stock, valued at $107,842,105.44. This represents a 1.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kaushik Ghoshal sold 9,745 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the completion of the transaction, the insider now directly owns 9,725 shares in the company, valued at $2,327,289.75. This represents a 50.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,940 shares of company stock valued at $9,164,385 in the last ninety days. 0.71% of the stock is currently owned by corporate insiders.

ResMed Stock Performance

Shares of NYSE RMD traded down $4.67 during mid-day trading on Tuesday, hitting $220.07. The stock had a trading volume of 710,559 shares, compared to its average volume of 963,267. ResMed Inc. has a twelve month low of $172.19 and a twelve month high of $263.05. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. The firm has a market cap of $32.32 billion, a PE ratio of 25.98, a PEG ratio of 1.53 and a beta of 0.74. The company has a 50 day moving average of $236.09 and a two-hundred day moving average of $239.66.

ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. Research analysts predict that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.96%. The ex-dividend date is Thursday, February 13th. ResMed's payout ratio is currently 25.03%.

About ResMed

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.