Choreo LLC Has $920,000 Holdings in ResMed Inc. (NYSE:RMD)

Choreo LLC lessened its holdings in ResMed Inc. (NYSE:RMD) by 13.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,010 shares of the medical equipment provider’s stock after selling 644 shares during the quarter. Choreo LLC’s holdings in ResMed were worth $920,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in RMD. Geode Capital Management LLC lifted its position in ResMed by 10.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock worth $939,114,000 after buying an additional 380,383 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in shares of ResMed by 726.3% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,801 shares of the medical equipment provider’s stock valued at $69,281,000 after acquiring an additional 249,454 shares during the last quarter. Nordea Investment Management AB raised its holdings in ResMed by 92.7% during the fourth quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider’s stock worth $103,214,000 after acquiring an additional 215,561 shares in the last quarter. State Street Corp boosted its position in ResMed by 1.9% during the third quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider’s stock valued at $1,528,590,000 after purchasing an additional 116,918 shares during the last quarter. Finally, Tidal Investments LLC grew its stake in ResMed by 738.4% in the third quarter. Tidal Investments LLC now owns 104,938 shares of the medical equipment provider’s stock valued at $25,617,000 after purchasing an additional 92,422 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Price Performance

ResMed stock opened at $236.84 on Monday. The company has a market capitalization of $34.78 billion, a price-to-earnings ratio of 27.96, a PEG ratio of 1.57 and a beta of 0.70. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 12 month low of $170.56 and a 12 month high of $263.05. The stock’s 50 day moving average is $239.18 and its 200-day moving average is $237.59.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, beating 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 research analysts expect that ResMed Inc. will post 9.44 EPS for the current year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s dividend payout ratio is 25.03%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on RMD shares. UBS Group upgraded ResMed from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. lifted their price objective on shares of ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a report on Friday, January 31st. Finally, Piper Sandler lifted their price target on ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $244.73.

Insiders Place Their Bets

In related news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total transaction of $491,300.00. Following the completion of the sale, the director now owns 81,218 shares of the company’s stock, valued at $19,951,201.70. This represents a 2.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Witte Jan De sold 796 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total transaction of $198,052.76. Following the sale, the director now owns 6,723 shares in the company, valued at $1,672,749.63. The trade was a 10.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,094 shares of company stock worth $2,704,941 in the last quarter. 0.71% of the stock is currently owned by corporate insiders.

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.