Vinva Investment Management Ltd Sells 981 Shares of ResMed Inc. $RMD

Vinva Investment Management Ltd decreased its stake in shares of ResMed Inc. (NYSE:RMD) by 9.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,081 shares of the medical equipment provider’s stock after selling 981 shares during the quarter. Vinva Investment Management Ltd’s holdings in ResMed were worth $2,317,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Zions Bancorporation National Association UT purchased a new stake in ResMed during the first quarter valued at $45,000. Groupe la Francaise bought a new stake in ResMed in the first quarter worth $45,000. Harbour Investments Inc. boosted its stake in ResMed by 264.2% during 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 period. Quarry LP grew its holdings in ResMed by 141.1% during the 1st quarter. Quarry LP now owns 311 shares of the medical equipment provider’s stock valued at $70,000 after purchasing an additional 182 shares during the last quarter. Finally, Ameritas Advisory Services LLC purchased a new position in shares of ResMed during the second quarter valued at approximately $83,000. 54.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

RMD has been the topic of several research analyst reports. Morgan Stanley set a $305.00 price objective on ResMed in a research report on Friday, October 31st. Stifel Nicolaus boosted their price target on ResMed from $240.00 to $270.00 and gave the company a “hold” rating in a report on Friday, August 1st. Piper Sandler raised their price objective on ResMed from $248.00 to $270.00 and gave the stock a “neutral” rating in a report on Friday, August 1st. Wall Street Zen cut ResMed from a “buy” rating to a “hold” rating in a report on Sunday, August 10th. Finally, Citigroup assumed coverage on shares of ResMed in a research note on Thursday, September 18th. They issued a “buy” rating and a $330.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $297.45.

Insider Buying and Selling

In other ResMed news, Director Witte Jan De sold 2,055 shares of the stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $255.00, for a total transaction of $524,025.00. Following the transaction, the director owned 4,261 shares in the company, valued at approximately $1,086,555. This represents a 32.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $252.05, for a total transaction of $504,100.00. Following the completion of the sale, the director directly owned 66,110 shares of the company’s stock, valued at approximately $16,663,025.50. The trade was a 2.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 20,662 shares of company stock worth $5,443,526. 0.65% of the stock is currently owned by company insiders.

ResMed Stock Down 0.7%

Shares of RMD stock opened at $253.30 on Friday. ResMed Inc. has a 1-year low of $199.92 and a 1-year high of $293.81. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.44 and a quick ratio of 2.53. The company has a market cap of $36.97 billion, a price-to-earnings ratio of 26.64, a price-to-earnings-growth ratio of 1.75 and a beta of 0.87. The stock’s fifty day moving average price is $261.55 and its 200 day moving average price is $263.41.

ResMed (NYSE:RMD) last issued its earnings results on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.06. The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.33 billion. ResMed had a return on equity of 25.62% and a net margin of 27.22%.The firm’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the business posted $2.20 EPS. On average, research analysts expect that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, November 13th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Thursday, November 13th. ResMed’s dividend payout ratio (DPR) is 24.56%.

ResMed Profile

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.