Vinva Investment Management Ltd Sells 12,288 Shares of ResMed Inc. (NYSE:RMD)

Vinva Investment Management Ltd lessened its stake in shares of ResMed Inc. (NYSE:RMD) by 58.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,615 shares of the medical equipment provider’s stock after selling 12,288 shares during the quarter. Vinva Investment Management Ltd’s holdings in ResMed were worth $1,977,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RMD. Geode Capital Management LLC grew its stake in shares of ResMed by 10.9% during the third quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock worth $939,114,000 after buying an additional 380,383 shares during the last quarter. Los Angeles Capital Management LLC lifted its holdings in shares of ResMed by 60.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 668,908 shares of the medical equipment provider’s stock worth $152,973,000 after purchasing an additional 250,746 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of ResMed by 726.3% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,801 shares of the medical equipment provider’s stock worth $69,281,000 after purchasing an additional 249,454 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of ResMed during the fourth quarter worth $50,364,000. Finally, Nordea Investment Management AB lifted its holdings in shares of ResMed by 92.7% during the fourth quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider’s stock worth $103,214,000 after purchasing an additional 215,561 shares during the period. Institutional investors own 54.98% of the company’s stock.

ResMed Price Performance

RMD stock opened at $221.13 on Friday. The stock has a market capitalization of $32.48 billion, a PE ratio of 26.11, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. The company’s 50-day moving average is $235.19 and its 200-day moving average is $239.24. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. ResMed Inc. has a 1 year low of $172.19 and a 1 year high of $263.05.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. Equities research analysts expect that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 13th were issued a $0.53 dividend. The ex-dividend date was Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.96%. ResMed’s dividend payout ratio is presently 25.03%.

Insider Buying and Selling

In related news, insider Kaushik Ghoshal sold 9,745 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $239.31, for a total value of $2,332,075.95. Following the sale, the insider now owns 9,725 shares in the company, valued at $2,327,289.75. This represents a 50.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael J. Farrell sold 8,009 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 455,472 shares in the company, valued at $107,842,105.44. This represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,940 shares of company stock worth $9,164,385 in the last quarter. Insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Citigroup upgraded shares of ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday, March 5th. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a report on Saturday, March 15th. Needham & Company LLC restated a “hold” rating on shares of ResMed in a report on Friday, January 31st. Morgan Stanley assumed coverage on shares of ResMed in a report on Wednesday. They issued an “overweight” rating and a $280.00 target price on the stock. Finally, UBS Group upgraded shares of ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, ResMed currently has an average rating of “Moderate Buy” and a consensus target price of $246.83.

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.