Ardevora Asset Management LLP Decreases Holdings in ResMed Inc. (NYSE:RMD)

Ardevora Asset Management LLP decreased its position in shares of ResMed Inc. (NYSE:RMD) by 53.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,746 shares of the medical equipment provider’s stock after selling 73,562 shares during the quarter. Ardevora Asset Management LLP’s holdings in ResMed were worth $11,138,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RMD. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in ResMed in the 3rd quarter valued at approximately $26,000. Compass Wealth Management LLC acquired a new position in ResMed in the 4th quarter valued at $26,000. EverSource Wealth Advisors LLC raised its holdings in ResMed by 224.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider’s stock valued at $27,000 after acquiring an additional 128 shares during the last quarter. Riverview Trust Co raised its holdings in ResMed by 255.9% in the 3rd quarter. Riverview Trust Co now owns 210 shares of the medical equipment provider’s stock valued at $31,000 after acquiring an additional 151 shares during the last quarter. Finally, Operose Advisors LLC acquired a new position in ResMed in the 3rd quarter valued at $32,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Trading Up 0.7 %

Shares of RMD stock traded up $1.24 on Friday, reaching $178.85. 1,303,527 shares of the stock were exchanged, compared to its average volume of 1,025,071. ResMed Inc. has a 1-year low of $132.24 and a 1-year high of $243.52. The stock has a market cap of $26.31 billion, a P/E ratio of 29.56, a price-to-earnings-growth ratio of 2.19 and a beta of 0.67. The company has a quick ratio of 1.89, a current ratio of 3.11 and a debt-to-equity ratio of 0.27. The firm has a 50 day moving average of $186.18 and a two-hundred day moving average of $170.63.

ResMed (NYSE:RMD) last released its quarterly earnings data on Wednesday, January 24th. The medical equipment provider reported $1.88 EPS for the quarter, beating the consensus estimate of $1.81 by $0.07. ResMed had a return on equity of 23.86% and a net margin of 19.77%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period last year, the company posted $1.66 earnings per share. The firm’s revenue was up 12.5% compared to the same quarter last year. On average, research analysts anticipate that ResMed Inc. will post 7.47 EPS for the current year.

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Thursday, February 8th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend was Wednesday, February 7th. ResMed’s dividend payout ratio (DPR) is presently 31.74%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. KeyCorp assumed coverage on ResMed in a report on Tuesday, February 6th. They issued an “overweight” rating and a $227.00 price target for the company. UBS Group boosted their price target on ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. Royal Bank of Canada boosted their price target on ResMed from $181.00 to $182.00 and gave the company a “sector perform” rating in a report on Thursday, January 25th. JPMorgan Chase & Co. boosted their price target on ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a report on Tuesday, January 9th. Finally, Mizuho reiterated a “buy” rating and issued a $215.00 price target on shares of ResMed in a report on Wednesday, March 27th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $199.20.

Insider Buying and Selling at ResMed

In other ResMed news, General Counsel Michael J. Rider sold 200 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $173.25, for a total value of $34,650.00. Following the transaction, the general counsel now directly owns 6,688 shares of the company’s stock, valued at $1,158,696. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Peter C. Farrell sold 10,935 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the completion of the sale, the director now directly owns 157,404 shares in the company, valued at $28,751,414.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Michael J. Rider sold 200 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $173.25, for a total value of $34,650.00. Following the sale, the general counsel now owns 6,688 shares of the company’s stock, valued at $1,158,696. The disclosure for this sale can be found here. Insiders have sold 11,216 shares of company stock valued at $2,046,617 over the last three months. 1.21% of the stock is owned by company insiders.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.