Mn Services Vermogensbeheer B.V. Cuts Stake in ResMed Inc. (NYSE:RMD)

Mn Services Vermogensbeheer B.V. cut its stake in shares of ResMed Inc. (NYSE:RMD) by 2.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 56,478 shares of the medical equipment provider’s stock after selling 1,400 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in ResMed were worth $13,787,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of RMD. OFI Invest Asset Management purchased a new position in shares of ResMed in the second quarter worth $32,000. Versant Capital Management Inc raised its position in ResMed by 196.7% in the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 120 shares during the last quarter. Financial Connections Group Inc. bought a new position in ResMed during the 2nd quarter valued at about $37,000. Blue Trust Inc. boosted its holdings in shares of ResMed by 182.7% during the 2nd quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock valued at $42,000 after acquiring an additional 137 shares during the last quarter. Finally, Rothschild Investment LLC purchased a new stake in shares of ResMed during the 2nd quarter valued at about $44,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Insider Transactions at ResMed

In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $214.25, for a total transaction of $3,145,832.75. Following the completion of the transaction, the chief executive officer now directly owns 440,799 shares of the company’s stock, valued at approximately $94,441,185.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Michael J. Farrell sold 14,683 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $214.25, for a total transaction of $3,145,832.75. Following the sale, the chief executive officer now directly owns 440,799 shares of the company’s stock, valued at $94,441,185.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brett Sandercock sold 1,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $212.16, for a total value of $212,160.00. Following the transaction, the chief financial officer now owns 89,056 shares in the company, valued at $18,894,120.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 75,874 shares of company stock worth $17,731,782. Company insiders own 0.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Wolfe Research reiterated an “underperform” rating and set a $180.00 target price on shares of ResMed in a research note on Wednesday, September 18th. Bank of America upped their price objective on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research report on Friday, October 25th. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Finally, KeyCorp increased their price objective on shares of ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $225.70.

ResMed Stock Down 0.3 %

Shares of NYSE:RMD opened at $243.61 on Tuesday. The business’s 50 day moving average is $242.99 and its 200 day moving average is $220.75. The stock has a market cap of $35.76 billion, a P/E ratio of 32.27, a price-to-earnings-growth ratio of 1.79 and a beta of 0.69. ResMed Inc. has a 52-week low of $140.81 and a 52-week high of $260.49. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. ResMed’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.64 earnings per share. Sell-side analysts predict that ResMed Inc. will post 9.22 EPS for the current year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th will be issued a $0.53 dividend. The ex-dividend date is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.87%. ResMed’s dividend payout ratio is currently 28.08%.

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.