C WorldWide Group Holding A S Lowers Holdings in ResMed Inc. $RMD

C WorldWide Group Holding A S decreased its stake in ResMed Inc. (NYSE:RMD) by 1.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 56,924 shares of the medical equipment provider’s stock after selling 632 shares during the quarter. C WorldWide Group Holding A S’s holdings in ResMed were worth $14,686,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Zions Bancorporation National Association UT purchased a new stake in shares of ResMed in the first quarter worth about $45,000. Groupe la Francaise purchased a new stake in shares of ResMed in the first quarter worth about $45,000. Harbour Investments Inc. boosted its stake in shares of ResMed by 264.2% in the second quarter. Harbour Investments Inc. now owns 244 shares of the medical equipment provider’s stock worth $63,000 after buying an additional 177 shares during the last quarter. Larson Financial Group LLC boosted its stake in shares of ResMed by 926.7% in the first quarter. Larson Financial Group LLC now owns 308 shares of the medical equipment provider’s stock worth $69,000 after buying an additional 278 shares during the last quarter. Finally, Quarry LP raised its holdings in ResMed by 141.1% in the 1st quarter. Quarry LP now owns 311 shares of the medical equipment provider’s stock worth $70,000 after purchasing an additional 182 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Insider Activity at ResMed

In related news, General Counsel Michael J. Rider sold 100 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $274.36, for a total value of $27,436.00. Following the completion of the sale, the general counsel owned 11,327 shares of the company’s stock, valued at approximately $3,107,675.72. This trade represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $282.85, for a total value of $2,265,345.65. Following the completion of the sale, the chief executive officer directly owned 467,792 shares of the company’s stock, valued at approximately $132,314,967.20. This represents a 1.68% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 10,684 shares of company stock valued at $3,032,064. 0.65% of the stock is currently owned by insiders.

ResMed Price Performance

Shares of ResMed stock opened at $245.20 on Thursday. The business has a 50 day simple moving average of $269.52 and a two-hundred day simple moving average of $261.80. ResMed Inc. has a 12 month low of $199.92 and a 12 month high of $293.81. The stock has a market capitalization of $35.78 billion, a P/E ratio of 25.78, a PEG ratio of 1.75 and a beta of 0.87. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.44 and a quick ratio of 2.53.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, October 30th. The medical equipment provider reported $2.55 EPS for the quarter, beating analysts’ consensus estimates of $2.49 by $0.06. ResMed had a return on equity of 25.62% and a net margin of 27.22%.The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the prior year, the firm earned $2.20 earnings per share. The business’s revenue was up 9.1% compared to the same quarter last year. As a group, analysts predict that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, November 13th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.0%. ResMed’s dividend payout ratio is presently 24.56%.

Analyst Ratings Changes

RMD has been the subject of a number of analyst reports. Stifel Nicolaus upped their price target on ResMed from $240.00 to $270.00 and gave the stock a “hold” rating in a report on Friday, August 1st. Piper Sandler upped their price target on ResMed from $248.00 to $270.00 and gave the stock a “neutral” rating in a report on Friday, August 1st. William Blair raised ResMed to a “strong-buy” rating in a report on Friday, August 1st. Royal Bank Of Canada upped their price target on ResMed from $300.00 to $303.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Finally, Robert W. Baird reduced their price target on ResMed from $320.00 to $300.00 and set an “outperform” rating for the company in a report on Monday. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, ResMed currently has an average rating of “Moderate Buy” and an average target price of $297.45.

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.