Nicollet Investment Management Inc. Sells 466 Shares of ResMed Inc. (NYSE:RMD)

Nicollet Investment Management Inc. lessened its stake in ResMed Inc. (NYSE:RMD) by 1.6% in the fourth quarter, HoldingsChannel reports. The firm owned 27,882 shares of the medical equipment provider’s stock after selling 466 shares during the period. ResMed makes up approximately 2.2% of Nicollet Investment Management Inc.’s holdings, making the stock its 15th largest holding. Nicollet Investment Management Inc.’s holdings in ResMed were worth $6,376,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in RMD. Vanguard Group Inc. grew its holdings in shares of ResMed by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 18,173,462 shares of the medical equipment provider’s stock worth $4,156,089,000 after acquiring an additional 160,590 shares during the period. State Street Corp lifted its stake in shares of ResMed by 1.9% in the 3rd quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider’s stock worth $1,528,590,000 after purchasing an additional 116,918 shares during the period. Geode Capital Management LLC lifted 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 worth $939,114,000 after purchasing an additional 380,383 shares during the period. Charles Schwab Investment Management Inc. grew its position in ResMed by 3.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 957,020 shares of the medical equipment provider’s stock valued at $218,861,000 after buying an additional 32,973 shares during the period. Finally, Los Angeles Capital Management LLC increased its holdings in ResMed by 60.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 668,908 shares of the medical equipment provider’s stock valued at $152,973,000 after buying an additional 250,746 shares during the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total transaction of $484,220.00. Following the transaction, the director now owns 77,218 shares of the company’s stock, valued at approximately $18,695,249.98. The trade was a 2.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $236.77, for a total value of $1,896,290.93. Following the completion of the sale, the chief executive officer now owns 455,472 shares of the company’s stock, valued at approximately $107,842,105.44. This represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,940 shares of company stock valued at $9,164,385 over the last ninety days. 0.71% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

RMD has been the subject of a number of recent research reports. Citigroup raised shares of ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 5th. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, March 25th. UBS Group raised ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. The Goldman Sachs Group started coverage on shares of ResMed in a report on Thursday, January 16th. They issued a “buy” rating for the company. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $249.73.

ResMed Stock Up 1.8 %

Shares of RMD opened at $223.81 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The stock has a market capitalization of $32.87 billion, a price-to-earnings ratio of 26.42, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. ResMed Inc. has a 1 year low of $172.19 and a 1 year high of $263.05. The business’s 50 day simple moving average is $233.37 and its 200-day simple moving average is $237.83.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. As a group, equities analysts expect that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 13th were given a $0.53 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 0.95%. ResMed’s dividend payout ratio is currently 25.03%.

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.