Martin Currie Ltd. Has $26.27 Million Stake in ResMed Inc. (NYSE:RMD)

Martin Currie Ltd. lowered its holdings in ResMed Inc. (NYSE:RMD) by 12.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 114,881 shares of the medical equipment provider’s stock after selling 15,646 shares during the quarter. Martin Currie Ltd. owned about 0.08% of ResMed worth $26,272,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Howard Capital Management Inc. raised its position in ResMed by 5.3% in the 4th quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider’s stock worth $206,000 after purchasing an additional 45 shares during the last quarter. Ascent Group LLC raised its position in shares of ResMed by 1.7% during the third quarter. Ascent Group LLC now owns 2,924 shares of the medical equipment provider’s stock worth $714,000 after acquiring an additional 48 shares during the last quarter. SkyView Investment Advisors LLC lifted its stake in shares of ResMed by 2.0% during the third quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider’s stock valued at $637,000 after acquiring an additional 51 shares during the period. Wedmont Private Capital boosted its holdings in ResMed by 2.6% in the fourth quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider’s stock valued at $475,000 after acquiring an additional 52 shares during the last quarter. Finally, Brooklyn Investment Group increased its position in ResMed by 8.1% in the fourth quarter. Brooklyn Investment Group now owns 911 shares of the medical equipment provider’s stock worth $208,000 after purchasing an additional 68 shares during the period. Institutional investors own 54.98% of the company’s stock.

Insider Activity

In other ResMed news, insider Kaushik Ghoshal sold 9,745 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the sale, the insider now directly owns 9,725 shares of the company’s stock, valued at $2,327,289.75. The trade was a 50.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total transaction of $484,220.00. Following the transaction, the director now owns 77,218 shares of the company’s stock, valued at approximately $18,695,249.98. This represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,940 shares of company stock worth $9,164,385 over the last ninety days. Insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

RMD has been the subject of several analyst reports. Stifel Nicolaus lowered their price target on shares of ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a research report on Wednesday, March 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a report on Friday, January 31st. KeyCorp increased their price target on ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Piper Sandler lifted their price objective on ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. increased their target price on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, ResMed has a consensus rating of “Moderate Buy” and an average target price of $249.73.

ResMed Trading Down 1.2 %

Shares of NYSE:RMD opened at $219.85 on Friday. The firm has a market cap of $32.29 billion, a price-to-earnings ratio of 25.96, a PEG ratio of 1.53 and a beta of 0.74. ResMed Inc. has a 12 month low of $172.19 and a 12 month high of $263.05. The company’s fifty day simple moving average is $233.70 and its 200 day simple moving average is $238.13. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13.

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

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were paid a dividend of $0.53 per share. The ex-dividend date was Thursday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 0.96%. ResMed’s dividend payout ratio is currently 25.03%.

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.