Sei Investments Co. Sells 43,559 Shares of ResMed Inc. $RMD

Sei Investments Co. lowered its stake in shares of ResMed Inc. (NYSE:RMD) by 33.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 85,055 shares of the medical equipment provider’s stock after selling 43,559 shares during the quarter. Sei Investments Co. owned about 0.06% of ResMed worth $19,092,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RMD. First Trust Advisors LP raised its position in shares of ResMed by 240.9% in the fourth quarter. First Trust Advisors LP now owns 1,517,592 shares of the medical equipment provider’s stock valued at $365,542,000 after purchasing an additional 1,072,394 shares during the period. Norges Bank acquired a new stake in shares of ResMed in the fourth quarter worth $249,068,000. Deutsche Bank AG boosted its holdings in shares of ResMed by 126.0% during the 4th quarter. Deutsche Bank AG now owns 1,413,477 shares of the medical equipment provider’s stock worth $340,464,000 after buying an additional 787,949 shares during the period. Morgan Stanley boosted its holdings in shares of ResMed by 25.0% during the 4th quarter. Morgan Stanley now owns 2,891,697 shares of the medical equipment provider’s stock worth $696,523,000 after buying an additional 578,559 shares during the period. Finally, Swedbank AB grew its stake in ResMed by 103.1% in the 4th quarter. Swedbank AB now owns 1,102,476 shares of the medical equipment provider’s stock valued at $265,553,000 after buying an additional 559,765 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Trading Up 2.6%

Shares of RMD opened at $214.36 on Thursday. ResMed Inc. has a 12-month low of $180.26 and a 12-month high of $293.81. The company has a quick ratio of 2.33, a current ratio of 3.01 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $31.09 billion, a price-to-earnings ratio of 20.67, a P/E/G ratio of 1.27 and a beta of 0.78. The stock’s 50-day moving average price is $198.80 and its 200 day moving average price is $223.98.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share for the quarter, topping the consensus estimate of $2.79 by $0.07. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.42 billion. ResMed had a return on equity of 25.35% and a net margin of 27.44%.ResMed’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.37 EPS. As a group, research analysts predict that ResMed Inc. will post 11.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on RMD shares. Mizuho dropped their target price on shares of ResMed from $235.00 to $220.00 and set an “outperform” rating on the stock in a report on Wednesday, July 15th. Royal Bank Of Canada downgraded ResMed from an “outperform” rating to a “sector perform” rating and set a $234.00 price target on the stock. in a research report on Thursday, July 16th. JPMorgan Chase & Co. began coverage on ResMed in a research note on Wednesday, April 15th. They issued an “overweight” rating on the stock. Evercore set a $255.00 price objective on ResMed and gave the stock an “outperform” rating in a research report on Monday, April 13th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of ResMed in a research note on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $246.25.

Insiders Place Their Bets

In other ResMed news, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $218.55, for a total value of $1,090,783.05. Following the sale, the chief executive officer owned 466,223 shares of the company’s stock, valued at $101,893,036.65. The trade was a 1.06% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 14,973 shares of company stock worth $3,096,067 in the last 90 days. 0.65% of the stock is owned by insiders.

About ResMed

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.