ResMed Inc. (NYSE:RMD) Stake Lessened by 2Xideas AG

2Xideas AG cut its stake in shares of ResMed Inc. (NYSE:RMD) by 30.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 93,505 shares of the medical equipment provider’s stock after selling 40,752 shares during the period. ResMed comprises about 2.9% of 2Xideas AG’s investment portfolio, making the stock its 6th biggest position. 2Xideas AG’s holdings in ResMed were worth $21,384,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Howard Capital Management Inc. lifted its holdings in shares of ResMed by 5.3% in the fourth quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider’s stock worth $206,000 after buying an additional 45 shares in the last quarter. SkyView Investment Advisors LLC boosted its holdings in shares of ResMed by 2.0% in the 3rd quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider’s stock worth $637,000 after purchasing an additional 51 shares during the period. Wedmont Private Capital boosted its stake in ResMed by 2.6% during the fourth quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider’s stock worth $475,000 after buying an additional 52 shares during the period. HighPoint Advisor Group LLC grew its holdings in ResMed by 2.6% during the 4th quarter. HighPoint Advisor Group LLC now owns 2,570 shares of the medical equipment provider’s stock valued at $610,000 after purchasing an additional 64 shares during the last quarter. Finally, Brooklyn Investment Group increased its stake in ResMed by 8.1% in the fourth quarter. Brooklyn Investment Group now owns 911 shares of the medical equipment provider’s stock worth $208,000 after purchasing an additional 68 shares during the period. 54.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RMD. StockNews.com cut ResMed from a “buy” rating to a “hold” rating in a research note on Wednesday. Morgan Stanley assumed coverage on shares of ResMed in a research report on Wednesday, March 19th. They set an “overweight” rating and a $280.00 target price on the stock. Stifel Nicolaus lowered their price target on shares of ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a research report on Wednesday, March 5th. KeyCorp increased their price objective on shares of ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. upped their target price on ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, ResMed has a consensus rating of “Moderate Buy” and a consensus target price of $249.73.

ResMed Stock Performance

Shares of ResMed stock opened at $204.72 on Friday. ResMed Inc. has a 52 week low of $172.19 and a 52 week high of $263.05. The firm has a market capitalization of $30.07 billion, a P/E ratio of 24.17, a P/E/G ratio of 1.53 and a beta of 0.74. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The firm’s 50 day moving average is $230.74 and its two-hundred day moving average is $236.95.

ResMed (NYSE:RMD) last released 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 return on equity of 26.17% and a net margin of 25.34%. Research analysts forecast that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were paid a dividend of $0.53 per share. The ex-dividend date was Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.04%. ResMed’s dividend payout ratio (DPR) is presently 25.03%.

Insider Buying and Selling at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $219.74, for a total value of $439,480.00. Following the transaction, the director now directly owns 73,218 shares in the company, valued at approximately $16,088,923.32. This represents a 2.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kaushik Ghoshal sold 9,745 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the transaction, the insider now owns 9,725 shares in the company, valued at approximately $2,327,289.75. The trade was a 50.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,004 shares of company stock valued at $9,618,128. Corporate 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.