ResMed Inc. (NYSE:RMD) Shares Sold by Patton Fund Management Inc.

Patton Fund Management Inc. lessened its position in shares of ResMed Inc. (NYSE:RMD) by 14.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,116 shares of the medical equipment provider’s stock after selling 3,653 shares during the quarter. Patton Fund Management Inc.’s holdings in ResMed were worth $4,829,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in shares of ResMed by 10.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock valued at $939,114,000 after purchasing an additional 380,383 shares in the last quarter. Greenvale Capital LLP increased its position in shares of ResMed by 61.1% in the second quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock valued at $138,780,000 after buying an additional 275,000 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of ResMed by 726.3% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,801 shares of the medical equipment provider’s stock worth $69,281,000 after buying an additional 249,454 shares during the period. Nordea Investment Management AB lifted its position in shares of ResMed by 92.7% during the 4th quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider’s stock valued at $103,214,000 after buying an additional 215,561 shares in the last quarter. Finally, State Street Corp grew its stake in ResMed by 1.9% in the 3rd quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider’s stock valued at $1,528,590,000 after acquiring an additional 116,918 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Analyst Ratings Changes

RMD has been the subject of a number of research analyst reports. Royal Bank of Canada upped their price objective on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. The Goldman Sachs Group initiated coverage on shares of ResMed in a research report on Thursday, January 16th. They set a “buy” rating for the company. Piper Sandler assumed coverage on ResMed in a report on Friday, January 10th. They issued a “neutral” rating and a $252.00 price objective on the stock. Stifel Nicolaus started coverage on ResMed in a report on Friday, December 13th. They set a “hold” rating and a $250.00 target price for the company. Finally, StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $238.40.

Insiders Place Their Bets

In related news, Director Witte Jan De sold 796 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total value of $198,052.76. Following the sale, the director now directly owns 6,723 shares in the company, valued at approximately $1,672,749.63. The trade was a 10.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Justin Leong sold 6,160 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the completion of the transaction, the insider now directly owns 21,718 shares in the company, valued at $5,279,428.62. The trade was a 22.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,099 shares of company stock valued at $2,719,385 over the last ninety days. Company insiders own 0.71% of the company’s stock.

ResMed Stock Down 1.8 %

NYSE RMD opened at $250.03 on Wednesday. The business’s fifty day simple moving average is $239.80 and its 200-day simple moving average is $235.71. 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 firm has a market cap of $36.70 billion, a PE ratio of 33.12, a P/E/G ratio of 1.78 and a beta of 0.70. ResMed Inc. has a 52 week low of $170.56 and a 52 week high of $260.49.

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.