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

Nicollet Investment Management Inc. cut its position in shares of ResMed Inc. (NYSE:RMD) by 1.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,882 shares of the medical equipment provider’s stock after selling 466 shares during the quarter. ResMed makes up about 2.2% of Nicollet Investment Management Inc.’s investment portfolio, making the stock its 15th largest position. Nicollet Investment Management Inc.’s holdings in ResMed were worth $6,376,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of RMD. Intech Investment Management LLC bought a new stake in ResMed in the third quarter worth $244,000. D.A. Davidson & CO. purchased a new stake in ResMed during the 3rd quarter valued at about $229,000. Public Sector Pension Investment Board grew its position in ResMed by 14.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 6,432 shares of the medical equipment provider’s stock worth $1,570,000 after acquiring an additional 800 shares during the last quarter. Captrust Financial Advisors grew its position in ResMed by 901.2% during the 3rd quarter. Captrust Financial Advisors now owns 48,537 shares of the medical equipment provider’s stock worth $11,849,000 after acquiring an additional 43,689 shares during the last quarter. Finally, Verition Fund Management LLC lifted its position in ResMed by 102.5% in the third quarter. Verition Fund Management LLC now owns 12,054 shares of the medical equipment provider’s stock valued at $2,943,000 after purchasing an additional 6,100 shares during the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. KeyCorp raised their target price on shares of ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Citigroup raised shares of ResMed from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 5th. Stifel Nicolaus cut their target price on ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a research note on Wednesday, March 5th. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, March 25th. Finally, Morgan Stanley started coverage on ResMed in a research report on Wednesday, March 19th. They issued an “overweight” rating and a $280.00 price objective on the stock. One research analyst has rated the stock with a sell rating, five have given 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.com, the company currently has an average rating of “Moderate Buy” and an average price target of $249.73.

ResMed Trading Up 1.8 %

NYSE:RMD opened at $223.81 on Tuesday. The firm has a market capitalization of $32.87 billion, a P/E ratio of 26.42, a PEG ratio of 1.53 and a beta of 0.74. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. ResMed Inc. has a one year low of $172.19 and a one year high of $263.05. The company’s 50-day simple moving average is $233.37 and its 200 day simple moving average is $237.83.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. As a group, analysts forecast that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

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

Insider Buying and Selling

In related news, insider Kaushik Ghoshal sold 9,745 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $239.31, for a total value of $2,332,075.95. Following the completion of the transaction, the insider now directly owns 9,725 shares in the company, valued at $2,327,289.75. The trade was a 50.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total value of $484,220.00. Following the sale, the director now owns 77,218 shares in the company, valued at approximately $18,695,249.98. This represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,940 shares of company stock worth $9,164,385 in the last quarter. Corporate insiders own 0.71% of the company’s stock.

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.