MetLife Investment Management LLC Trims Position in ResMed Inc. (NYSE:RMD)

MetLife Investment Management LLC decreased its stake in shares of ResMed Inc. (NYSE:RMD) by 2.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 39,985 shares of the medical equipment provider’s stock after selling 1,010 shares during the period. MetLife Investment Management LLC’s holdings in ResMed were worth $9,761,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Janus Henderson Group PLC lifted its holdings in shares of ResMed by 4.8% in the 1st quarter. Janus Henderson Group PLC now owns 19,516 shares of the medical equipment provider’s stock worth $3,865,000 after buying an additional 902 shares during the period. Tidal Investments LLC grew its holdings in ResMed by 58.2% during the 1st quarter. Tidal Investments LLC now owns 8,954 shares of the medical equipment provider’s stock worth $1,773,000 after acquiring an additional 3,294 shares in the last quarter. Swedbank AB purchased a new position in ResMed during the 1st quarter valued at about $13,510,000. Cetera Advisors LLC purchased a new stake in shares of ResMed in the 1st quarter worth approximately $257,000. Finally, Keynote Financial Services LLC bought a new position in shares of ResMed during the first quarter valued at approximately $262,000. 54.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on RMD shares. Needham & Company LLC restated a “hold” rating on shares of ResMed in a report on Friday, October 25th. Baird R W raised ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. Wolfe Research reiterated an “underperform” rating and issued a $180.00 target price on shares of ResMed in a research note on Wednesday, September 18th. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Finally, Bank of America lifted their price objective on shares of ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, ResMed presently has an average rating of “Moderate Buy” and an average price target of $225.70.

Insider Activity

In related news, Director Witte Jan De sold 796 shares of the stock in a transaction 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 transaction, the director now directly owns 6,723 shares of the company’s stock, valued at approximately $1,672,749.63. This represents a 10.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Justin Leong sold 6,160 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the sale, the insider now directly owns 21,718 shares of the company’s stock, valued at $5,279,428.62. The trade was a 22.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,334 shares of company stock worth $16,379,713 in the last ninety days. Company insiders own 0.71% of the company’s stock.

ResMed Price Performance

Shares of NYSE RMD opened at $249.33 on Friday. The business’s 50 day moving average price is $242.15 and its 200 day moving average price is $225.38. The firm has a market cap of $36.60 billion, a P/E ratio of 33.02, a P/E/G ratio of 1.81 and a beta of 0.69. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 52 week low of $151.95 and a 52 week high of $260.49.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.17. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the firm earned $1.64 EPS. On average, sell-side analysts expect that ResMed Inc. will post 9.28 earnings per share for the current year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 annualized dividend and a yield of 0.85%. ResMed’s dividend payout ratio is presently 28.08%.

About ResMed

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.