ResMed Inc. (RMD) Stake Lowered by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. reduced its stake in ResMed Inc. (NYSE:RMD) by 46.7% during the 4th quarter, Holdings Channel reports. The fund owned 282,204 shares of the medical equipment provider’s stock after selling 247,353 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in ResMed were worth $32,134,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of RMD. Oregon Public Employees Retirement Fund lifted its holdings in shares of ResMed by 15,868.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,275,028 shares of the medical equipment provider’s stock worth $46,000 after acquiring an additional 5,241,994 shares during the last quarter. WCM Investment Management LLC acquired a new position in shares of ResMed in the 4th quarter worth approximately $492,415,000. Deutsche Bank AG lifted its holdings in shares of ResMed by 323.1% in the 3rd quarter. Deutsche Bank AG now owns 1,367,475 shares of the medical equipment provider’s stock worth $157,721,000 after acquiring an additional 1,044,295 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of ResMed by 5.2% in the 4th quarter. BlackRock Inc. now owns 11,764,243 shares of the medical equipment provider’s stock worth $1,339,597,000 after acquiring an additional 583,831 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of ResMed by 151.5% in the 3rd quarter. AQR Capital Management LLC now owns 889,450 shares of the medical equipment provider’s stock worth $102,590,000 after acquiring an additional 535,803 shares during the last quarter. Hedge funds and other institutional investors own 67.21% of the company’s stock.

Several equities analysts have recently commented on RMD shares. JPMorgan Chase & Co. lowered shares of ResMed from a “neutral” rating to an “underweight” rating and set a $99.60 price objective on the stock. in a report on Friday, January 25th. Deutsche Bank lowered shares of ResMed from a “buy” rating to a “hold” rating in a report on Wednesday, January 23rd. BMO Capital Markets upgraded shares of ResMed from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $109.00 to $127.00 in a report on Monday, December 10th. Finally, Goldman Sachs Group lowered shares of ResMed from a “buy” rating to a “neutral” rating in a report on Friday, January 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $113.20.

In other ResMed news, insider Robert Andrew Douglas sold 4,298 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $100.90, for a total transaction of $433,668.20. Following the sale, the insider now directly owns 48,604 shares in the company, valued at approximately $4,904,143.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Michael J. Farrell sold 6,651 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $101.05, for a total transaction of $672,083.55. Following the sale, the chief executive officer now owns 292,933 shares in the company, valued at $29,600,879.65. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 77,205 shares of company stock worth $7,980,737. 1.24% of the stock is owned by company insiders.

ResMed stock opened at $97.90 on Wednesday. The company has a market cap of $13.96 billion, a price-to-earnings ratio of 27.73, a price-to-earnings-growth ratio of 2.67 and a beta of 0.58. ResMed Inc. has a 52-week low of $90.64 and a 52-week high of $118.50. The company has a current ratio of 2.44, a quick ratio of 1.76 and a debt-to-equity ratio of 0.61.

ResMed (NYSE:RMD) last released its earnings results on Thursday, January 24th. The medical equipment provider reported $1.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.05. The company had revenue of $651.10 million for the quarter, compared to analyst estimates of $676.77 million. ResMed had a net margin of 18.34% and a return on equity of 26.53%. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.00 EPS. Equities analysts expect that ResMed Inc. will post 3.55 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Thursday, February 7th were issued a dividend of $0.37 per share. The ex-dividend date was Wednesday, February 6th. This represents a $1.48 dividend on an annualized basis and a yield of 1.51%. ResMed’s dividend payout ratio (DPR) is presently 41.93%.

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ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. It offers various products and solutions for a range of respiratory disorders, including technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, portable oxygen concentrators, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.

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Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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