ResMed Inc. (NYSE:RMD) Shares Sold by XY Capital Ltd

XY Capital Ltd decreased its holdings in ResMed Inc. (NYSE:RMD) by 49.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,111 shares of the medical equipment provider’s stock after selling 11,628 shares during the period. ResMed makes up approximately 1.0% of XY Capital Ltd’s investment portfolio, making the stock its 15th largest position. XY Capital Ltd’s holdings in ResMed were worth $2,957,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of ResMed by 24.9% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,083 shares of the medical equipment provider’s stock valued at $35,068,000 after purchasing an additional 35,273 shares during the period. State Board of Administration of Florida Retirement System increased its holdings in shares of ResMed by 8.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 171,632 shares of the medical equipment provider’s stock worth $37,586,000 after buying an additional 13,894 shares during the last quarter. SG Americas Securities LLC raised its position in shares of ResMed by 211.1% during the 1st quarter. SG Americas Securities LLC now owns 19,625 shares of the medical equipment provider’s stock valued at $3,886,000 after buying an additional 13,316 shares during the period. iA Global Asset Management Inc. acquired a new position in ResMed in the first quarter valued at approximately $3,055,000. Finally, Versor Investments LP lifted its holdings in ResMed by 327.3% in the second quarter. Versor Investments LP now owns 4,700 shares of the medical equipment provider’s stock valued at $900,000 after acquiring an additional 3,600 shares during the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on RMD. Royal Bank of Canada lifted their target price on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Baird R W raised shares of ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. Bank of America lifted their price target on shares of ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. KeyCorp upped their price objective on shares of ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, five have assigned 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, the stock presently has an average rating of “Moderate Buy” and an average target price of $225.70.

Insider Buying and Selling at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $239.90, for a total transaction of $479,800.00. Following the completion of the transaction, the director now directly owns 87,204 shares of the company’s stock, valued at approximately $20,920,239.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $239.90, for a total value of $479,800.00. Following the completion of the transaction, the director now owns 87,204 shares in the company, valued at approximately $20,920,239.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Kaushik Ghoshal sold 5,000 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $252.56, for a total transaction of $1,262,800.00. Following the completion of the transaction, the insider now directly owns 21,788 shares in the company, valued at $5,502,777.28. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 62,260 shares of company stock worth $14,887,967 over the last ninety days. Corporate insiders own 0.71% of the company’s stock.

ResMed Trading Up 1.5 %

NYSE:RMD opened at $252.26 on Friday. ResMed Inc. has a 12-month low of $140.81 and a 12-month high of $260.49. The firm has a market cap of $37.03 billion, a PE ratio of 33.41, a price-to-earnings-growth ratio of 1.80 and a beta of 0.69. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. The stock has a fifty day moving average price of $243.36 and a 200 day moving average price of $222.08.

ResMed (NYSE:RMD) last released 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. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the firm earned $1.64 earnings per share. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. Sell-side analysts anticipate that ResMed Inc. will post 9.22 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be paid a dividend of $0.53 per share. The ex-dividend date is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.84%. ResMed’s payout ratio is currently 28.08%.

ResMed 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.