Y Intercept Hong Kong Ltd Reduces Position in ResMed Inc. (NYSE:RMD)

Y Intercept Hong Kong Ltd cut its position in ResMed Inc. (NYSE:RMD - Free Report) by 88.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 843 shares of the medical equipment provider's stock after selling 6,375 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in ResMed were worth $206,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of RMD. MML Investors Services LLC lifted its holdings in shares of ResMed by 3.1% in the third quarter. MML Investors Services LLC now owns 8,697 shares of the medical equipment provider's stock valued at $2,123,000 after purchasing an additional 260 shares in the last quarter. Orion Portfolio Solutions LLC boosted its stake in shares of ResMed by 21.9% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 4,689 shares of the medical equipment provider's stock valued at $1,145,000 after purchasing an additional 841 shares in the last quarter. National Bank of Canada FI boosted its holdings in shares of ResMed by 40.2% in the 3rd quarter. National Bank of Canada FI now owns 66,651 shares of the medical equipment provider's stock worth $16,271,000 after acquiring an additional 19,120 shares in the last quarter. Hendershot Investments Inc. raised its holdings in shares of ResMed by 0.5% in the third quarter. Hendershot Investments Inc. now owns 44,542 shares of the medical equipment provider's stock valued at $10,874,000 after buying an additional 234 shares during the last quarter. Finally, EP Wealth Advisors LLC lifted its stake in shares of ResMed by 15.7% during the third quarter. EP Wealth Advisors LLC now owns 2,321 shares of the medical equipment provider's stock valued at $567,000 after acquiring an additional 315 shares during the period. Institutional investors and hedge funds own 54.98% of the company's stock.

Insider Buying and Selling

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the firm's stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $245.65, for a total value of $491,300.00. Following the completion of the sale, the director now directly owns 81,218 shares of the company's stock, valued at $19,951,201.70. This trade represents a 2.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brett Sandercock sold 1,000 shares of the business's stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $233.47, for a total transaction of $233,470.00. Following the completion of the transaction, the chief financial officer now owns 95,812 shares in the company, valued at $22,369,227.64. The trade was a 1.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,725 shares of company stock valued at $11,253,448. Corporate insiders own 0.71% of the company's stock.

ResMed Stock Up 2.5 %

Shares of ResMed stock traded up $5.69 on Friday, reaching $237.27. The stock had a trading volume of 3,053,157 shares, compared to its average volume of 1,023,162. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $34.83 billion, a P/E ratio of 31.43, a P/E/G ratio of 1.73 and a beta of 0.68. The company has a 50 day moving average price of $242.72 and a 200 day moving average price of $228.46. ResMed Inc. has a 1 year low of $164.12 and a 1 year high of $260.49.

ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.17. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The company's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.64 earnings per share. As a group, equities research analysts forecast that ResMed Inc. will post 9.34 EPS for the current year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 7th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend was Thursday, November 7th. ResMed's dividend payout ratio is currently 28.08%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on RMD shares. KeyCorp boosted their target price on ResMed from $251.00 to $266.00 and gave the company an "overweight" rating in a research note on Friday, October 25th. Stifel Nicolaus began coverage on ResMed in a research report on Friday, December 13th. They issued a "hold" rating and a $250.00 target price for the company. Baird R W upgraded shares of ResMed to a "strong-buy" rating in a report on Tuesday, September 24th. Wolfe Research reissued an "underperform" rating and set a $180.00 price objective on shares of ResMed in a research report on Wednesday, September 18th. Finally, Bank of America lifted their price target on ResMed from $240.00 to $270.00 and gave the stock a "buy" rating in a report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, ResMed presently has a consensus rating of "Moderate Buy" and a consensus target price of $227.91.

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.