Stephens Investment Management Group LLC Decreases Stake in ResMed Inc. (NYSE:RMD)

Stephens Investment Management Group LLC cut its stake in shares of ResMed Inc. (NYSE:RMD) by 1.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 332,500 shares of the medical equipment provider’s stock after selling 4,054 shares during the quarter. Stephens Investment Management Group LLC owned about 0.23% of ResMed worth $76,039,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC increased its holdings in shares of ResMed by 10.9% in the third 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 during the period. Caisse DE Depot ET Placement DU Quebec increased its holdings in ResMed by 726.3% in 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 raised its position in ResMed by 92.7% during the 4th quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider’s stock worth $103,214,000 after buying an additional 215,561 shares during the last quarter. State Street Corp raised its position in ResMed by 1.9% during 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 buying an additional 116,918 shares during the last quarter. Finally, Tidal Investments LLC lifted its stake in ResMed by 738.4% during the 3rd quarter. Tidal Investments LLC now owns 104,938 shares of the medical equipment provider’s stock valued at $25,617,000 after acquiring an additional 92,422 shares during the period. 54.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at ResMed

In other news, Director Witte Jan De sold 796 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total value of $198,052.76. Following the completion of the sale, the director now directly owns 6,723 shares in the company, valued at $1,672,749.63. This represents a 10.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Justin Leong sold 6,160 shares of ResMed stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $243.09, for a total value of $1,497,434.40. Following the transaction, the insider now owns 21,718 shares in the company, valued at approximately $5,279,428.62. The trade was a 22.10 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,094 shares of company stock worth $2,704,941. Corporate insiders own 0.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on RMD shares. Stifel Nicolaus began coverage on shares of ResMed in a report on Friday, December 13th. They set a “hold” rating and a $250.00 target price for the company. UBS Group raised ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Robert W. Baird raised their target price on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Royal Bank of Canada boosted their price target on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $244.73.

ResMed Stock Down 0.1 %

Shares of NYSE RMD opened at $236.84 on Friday. The firm has a market cap of $34.78 billion, a price-to-earnings ratio of 27.96, a price-to-earnings-growth ratio of 1.57 and a beta of 0.70. The company’s 50-day simple moving average is $239.18 and its 200-day simple moving average is $237.39. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 52-week low of $170.56 and a 52-week high of $263.05.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. Equities analysts predict that ResMed Inc. will post 9.44 EPS for the current fiscal year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.90%. The ex-dividend date is Thursday, February 13th. ResMed’s dividend payout ratio is currently 25.03%.

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.