Ardevora Asset Management LLP Sells 73,562 Shares of ResMed Inc. (NYSE:RMD)

Ardevora Asset Management LLP trimmed its position in shares of ResMed Inc. (NYSE:RMD) by 53.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 64,746 shares of the medical equipment provider’s stock after selling 73,562 shares during the quarter. Ardevora Asset Management LLP’s holdings in ResMed were worth $11,138,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Handelsbanken Fonder AB grew its stake in ResMed by 22.5% during the fourth quarter. Handelsbanken Fonder AB now owns 70,272 shares of the medical equipment provider’s stock worth $12,088,000 after buying an additional 12,899 shares during the last quarter. CWM LLC grew its stake in ResMed by 14.6% during the fourth quarter. CWM LLC now owns 4,448 shares of the medical equipment provider’s stock worth $765,000 after buying an additional 567 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in ResMed by 1.4% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 13,053 shares of the medical equipment provider’s stock worth $2,245,000 after buying an additional 185 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its stake in ResMed by 9.3% during the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 14,631 shares of the medical equipment provider’s stock worth $2,517,000 after buying an additional 1,250 shares during the last quarter. Finally, Signaturefd LLC grew its stake in ResMed by 56.4% during the fourth quarter. Signaturefd LLC now owns 4,313 shares of the medical equipment provider’s stock worth $742,000 after buying an additional 1,555 shares during the last quarter. 54.98% of the stock is owned by institutional investors.

ResMed Trading Up 0.7 %

NYSE RMD traded up $1.24 during trading hours on Friday, hitting $178.85. The company’s stock had a trading volume of 1,303,527 shares, compared to its average volume of 1,025,071. The stock has a fifty day moving average of $186.18 and a 200 day moving average of $170.63. ResMed Inc. has a twelve month low of $132.24 and a twelve month high of $243.52. The firm has a market capitalization of $26.31 billion, a P/E ratio of 29.56, a PEG ratio of 2.19 and a beta of 0.67. The company has a quick ratio of 1.89, a current ratio of 3.11 and a debt-to-equity ratio of 0.27.

ResMed (NYSE:RMD) last posted its earnings results on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.81 by $0.07. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. ResMed had a net margin of 19.77% and a return on equity of 23.86%. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period last year, the business posted $1.66 earnings per share. Equities research analysts forecast that ResMed Inc. will post 7.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Thursday, February 8th were issued a $0.48 dividend. The ex-dividend date was Wednesday, February 7th. This represents a $1.92 annualized dividend and a yield of 1.07%. ResMed’s dividend payout ratio (DPR) is presently 31.74%.

Insiders Place Their Bets

In other ResMed news, General Counsel Michael J. Rider sold 200 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $173.25, for a total value of $34,650.00. Following the sale, the general counsel now directly owns 6,688 shares in the company, valued at $1,158,696. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Peter C. Farrell sold 10,935 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the completion of the sale, the director now owns 157,404 shares of the company’s stock, valued at $28,751,414.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Michael J. Rider sold 200 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $173.25, for a total transaction of $34,650.00. Following the sale, the general counsel now directly owns 6,688 shares of the company’s stock, valued at approximately $1,158,696. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,216 shares of company stock worth $2,046,617. Company insiders own 1.21% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on RMD shares. JPMorgan Chase & Co. upped their target price on shares of ResMed from $160.00 to $195.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 9th. Needham & Company LLC upped their target price on shares of ResMed from $215.00 to $224.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Oppenheimer upped their target price on shares of ResMed from $185.00 to $205.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 30th. KeyCorp started coverage on shares of ResMed in a research report on Tuesday, February 6th. They set an “overweight” rating and a $227.00 target price on the stock. Finally, UBS Group upped their target price on shares of ResMed from $175.00 to $180.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $199.20.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 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, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.