Vinva Investment Management Ltd Trims Stock Position in ResMed Inc. $RMD

Vinva Investment Management Ltd trimmed its stake in shares of ResMed Inc. (NYSE:RMD) by 22.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,050 shares of the medical equipment provider’s stock after selling 2,031 shares during the quarter. Vinva Investment Management Ltd’s holdings in ResMed were worth $1,911,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quadcap Wealth Management LLC raised its stake in shares of ResMed by 2.5% during the second quarter. Quadcap Wealth Management LLC now owns 1,880 shares of the medical equipment provider’s stock worth $485,000 after purchasing an additional 45 shares during the last quarter. NBT Bank N A NY lifted its holdings in shares of ResMed by 22.9% during the third quarter. NBT Bank N A NY now owns 252 shares of the medical equipment provider’s stock worth $69,000 after purchasing an additional 47 shares during the period. OFI Invest Asset Management grew its position in ResMed by 10.4% in the 3rd quarter. OFI Invest Asset Management now owns 509 shares of the medical equipment provider’s stock valued at $139,000 after buying an additional 48 shares during the last quarter. IMA Advisory Services Inc. increased its stake in ResMed by 52.7% in the 3rd quarter. IMA Advisory Services Inc. now owns 139 shares of the medical equipment provider’s stock valued at $38,000 after buying an additional 48 shares during the period. Finally, New Wave Wealth Advisors LLC increased its stake in ResMed by 2.8% in the 3rd quarter. New Wave Wealth Advisors LLC now owns 1,899 shares of the medical equipment provider’s stock valued at $520,000 after buying an additional 52 shares during the period. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

ResMed Price Performance

Shares of NYSE RMD opened at $253.03 on Tuesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.32 and a current ratio of 3.06. ResMed Inc. has a one year low of $199.92 and a one year high of $293.81. The firm has a market capitalization of $36.86 billion, a P/E ratio of 25.03, a PEG ratio of 1.68 and a beta of 0.88. The company’s fifty day moving average is $255.43 and its two-hundred day moving average is $259.58.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, January 29th. The medical equipment provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.13. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter last year, the firm posted $2.43 EPS. The business’s revenue was up 11.0% compared to the same quarter last year. Analysts forecast that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Thursday, February 12th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, February 12th. This represents a $2.40 dividend on an annualized basis and a yield of 0.9%. ResMed’s dividend payout ratio (DPR) is 23.74%.

Wall Street Analyst Weigh In

Several analysts have recently commented on RMD shares. Stifel Nicolaus raised their target price on shares of ResMed from $260.00 to $265.00 and gave the stock a “hold” rating in a research note on Friday, January 30th. Robert W. Baird set a $281.00 price target on shares of ResMed in a research note on Friday, January 30th. Piper Sandler increased their price target on shares of ResMed from $270.00 to $275.00 and gave the stock a “neutral” rating in a report on Friday, January 30th. Citigroup raised their price objective on shares of ResMed from $330.00 to $345.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Finally, Royal Bank Of Canada lifted their price objective on ResMed from $311.00 to $314.00 and gave the company an “outperform” rating in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, ResMed currently has an average rating of “Moderate Buy” and a consensus target price of $299.27.

Insider Transactions at ResMed

In other news, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $273.78, for a total transaction of $1,366,435.98. Following the completion of the sale, the chief executive officer directly owned 466,223 shares in the company, valued at approximately $127,642,532.94. This trade represents a 1.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $260.22, for a total value of $520,440.00. Following the sale, the director directly owned 62,773 shares in the company, valued at $16,334,790.06. This trade represents a 3.09% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 16,082 shares of company stock valued at $4,152,307. 0.65% of the stock is currently owned by corporate 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.