C WorldWide Group Holding A S Sells 178,160 Shares of ResMed Inc. (NYSE:RMD)

C WorldWide Group Holding A S lowered its position in shares of ResMed Inc. (NYSE:RMD) by 75.6% in the fourth quarter, HoldingsChannel reports. The fund owned 57,556 shares of the medical equipment provider’s stock after selling 178,160 shares during the period. C WorldWide Group Holding A S’s holdings in ResMed were worth $13,162,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp raised its position in shares of ResMed by 1.9% during the third quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider’s stock worth $1,528,590,000 after acquiring an additional 116,918 shares during the last quarter. Geode Capital Management LLC increased its holdings in ResMed by 10.9% in the third quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock valued at $939,114,000 after purchasing an additional 380,383 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in ResMed by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 924,047 shares of the medical equipment provider’s stock valued at $225,578,000 after purchasing an additional 13,985 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in ResMed by 0.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 742,411 shares of the medical equipment provider’s stock valued at $181,237,000 after purchasing an additional 2,406 shares during the last quarter. Finally, Tandem Investment Advisors Inc. increased its holdings in ResMed by 1.0% in the fourth quarter. Tandem Investment Advisors Inc. now owns 501,747 shares of the medical equipment provider’s stock valued at $114,745,000 after purchasing an additional 5,087 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

Insider Transactions at ResMed

In related news, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the completion of the transaction, the chief executive officer now directly owns 455,472 shares of the company’s stock, valued at approximately $107,842,105.44. This represents a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total value of $484,220.00. Following the transaction, the director now directly owns 77,218 shares of the company’s stock, valued at $18,695,249.98. This trade represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,147 shares of company stock valued at $2,905,745 over the last three months. Company insiders own 0.71% of the company’s stock.

ResMed Stock Down 0.5 %

RMD stock opened at $231.61 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The stock has a market capitalization of $34.02 billion, a P/E ratio of 27.34, a P/E/G ratio of 1.53 and a beta of 0.70. The business has a 50-day moving average of $237.43 and a 200-day moving average of $239.41. ResMed Inc. has a fifty-two week low of $170.56 and a fifty-two week high of $263.05.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. On average, sell-side analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be given a dividend of $0.53 per share. The ex-dividend date is Thursday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 0.92%. ResMed’s dividend payout ratio is currently 25.03%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Stifel Nicolaus assumed coverage on ResMed in a report on Friday, December 13th. They issued a “hold” rating and a $250.00 price objective for the company. Piper Sandler upped their price objective on ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, January 31st. The Goldman Sachs Group assumed coverage on ResMed in a report on Thursday, January 16th. They issued a “buy” rating for the company. JPMorgan Chase & Co. upped their price objective on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, KeyCorp boosted their target price on ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $244.73.

ResMed Company 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.