ResMed Inc. (NYSE:RMD) is 2Xideas AG’s 6th Largest Position

2Xideas AG cut its stake in ResMed Inc. (NYSE:RMD) by 30.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 93,505 shares of the medical equipment provider’s stock after selling 40,752 shares during the quarter. ResMed makes up approximately 2.9% of 2Xideas AG’s portfolio, making the stock its 6th largest holding. 2Xideas AG owned approximately 0.06% of ResMed worth $21,384,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RMD. Howard Capital Management Inc. grew its stake in shares of ResMed by 5.3% in the fourth quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider’s stock valued at $206,000 after buying an additional 45 shares in the last quarter. SkyView Investment Advisors LLC grew its stake in ResMed by 2.0% during the 3rd quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider’s stock worth $637,000 after buying an additional 51 shares during the last quarter. Wedmont Private Capital boosted its stake in ResMed by 2.6% during the 4th quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider’s stock worth $475,000 after purchasing an additional 52 shares during the period. HighPoint Advisor Group LLC increased its position in ResMed by 2.6% in the 4th quarter. HighPoint Advisor Group LLC now owns 2,570 shares of the medical equipment provider’s stock valued at $610,000 after acquiring an additional 64 shares during the period. Finally, Brooklyn Investment Group raised its position in ResMed by 8.1% during the 4th quarter. Brooklyn Investment Group now owns 911 shares of the medical equipment provider’s stock worth $208,000 after buying an additional 68 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Price Performance

NYSE RMD opened at $204.72 on Friday. The business has a 50 day simple moving average of $230.74 and a 200 day simple moving average of $236.95. ResMed Inc. has a 52-week low of $172.19 and a 52-week high of $263.05. The stock has a market cap of $30.07 billion, a price-to-earnings ratio of 24.17, a PEG ratio of 1.53 and a beta of 0.74. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33.

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

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were paid a $0.53 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 1.04%. ResMed’s payout ratio is 25.03%.

Insiders Place Their Bets

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $229.20, for a total value of $1,835,662.80. Following the transaction, the chief executive officer now directly owns 455,472 shares of the company’s stock, valued at approximately $104,394,182.40. The trade was a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $219.74, for a total value of $439,480.00. Following the completion of the sale, the director now owns 73,218 shares of the company’s stock, valued at approximately $16,088,923.32. This represents a 2.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,004 shares of company stock valued at $9,618,128. 0.71% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. UBS Group upgraded ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research report on Friday, January 31st. Stifel Nicolaus lowered their target price on ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a research note on Wednesday, March 5th. JPMorgan Chase & Co. increased their price target on shares of ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, StockNews.com lowered shares of ResMed from a “buy” rating to a “hold” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, ResMed currently has a consensus rating of “Moderate Buy” and an average price target of $249.73.

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.