Worldquant Millennium Advisors LLC Reduces Holdings in ResMed Inc. (NYSE:RMD)

Worldquant Millennium Advisors LLC lowered its position in ResMed Inc. (NYSE:RMD) by 59.8% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 105,675 shares of the medical equipment provider’s stock after selling 156,941 shares during the period. Worldquant Millennium Advisors LLC owned 0.07% of ResMed worth $25,797,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Versor Investments LP lifted its stake in shares of ResMed by 327.3% in the second quarter. Versor Investments LP now owns 4,700 shares of the medical equipment provider’s stock worth $900,000 after buying an additional 3,600 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of ResMed by 245.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 33,507 shares of the medical equipment provider’s stock worth $6,414,000 after purchasing an additional 23,801 shares during the last quarter. Retireful LLC purchased a new stake in shares of ResMed in the third quarter valued at approximately $742,000. Addenda Capital Inc. grew its position in shares of ResMed by 17.4% in the second quarter. Addenda Capital Inc. now owns 58,986 shares of the medical equipment provider’s stock valued at $11,291,000 after purchasing an additional 8,747 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its holdings in shares of ResMed by 5.1% in the third quarter. Asset Management One Co. Ltd. now owns 58,860 shares of the medical equipment provider’s stock valued at $14,369,000 after purchasing an additional 2,878 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Buying and Selling

In related news, CEO Michael J. Farrell sold 14,683 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $248.38, for a total transaction of $3,646,963.54. Following the sale, the chief executive officer now directly owns 464,169 shares in the company, valued at approximately $115,290,296.22. This represents a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brett Sandercock sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $246.42, for a total transaction of $246,420.00. Following the completion of the sale, the chief financial officer now directly owns 96,812 shares in the company, valued at approximately $23,856,413.04. This trade represents a 1.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 68,408 shares of company stock valued at $16,409,632 in the last ninety days. Company insiders own 0.71% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on RMD shares. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Bank of America upped their price objective on shares of ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Baird R W raised shares of ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. Royal Bank of Canada increased their price target on shares of ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Finally, Robert W. Baird raised their price target on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, ResMed currently has an average rating of “Moderate Buy” and an average target price of $225.70.

ResMed Stock Up 0.8 %

NYSE:RMD opened at $241.28 on Friday. ResMed Inc. has a 52 week low of $162.05 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. The stock’s fifty day moving average is $242.30 and its two-hundred day moving average is $226.46. The stock has a market capitalization of $35.42 billion, a price-to-earnings ratio of 31.96, a price-to-earnings-growth ratio of 1.79 and a beta of 0.68.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.17. The firm had revenue of $1.22 billion for 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 company earned $1.64 EPS. Research analysts anticipate that ResMed Inc. will post 9.28 EPS for the current year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Thursday, November 7th. ResMed’s dividend payout ratio (DPR) 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.