Aberdeen Group plc Sells 37,737 Shares of ResMed Inc. $RMD

Key Points

• Aberdeen Group plc trimmed its stake in ResMed by 13.6% in Q4, selling 37,737 shares and leaving 239,236 shares valued at about $57.63 million (≈0.16% ownership) at quarter end.
• Company insiders have been net sellers, disposing of 23,023 shares over the past three months — including CEO Michael J. Farrell's sale of 4,991 shares (~$1.25M) and Director Peter C. Farrell's 2,000-share sale — leaving insiders with roughly 0.65% ownership.
• ResMed beat quarterly expectations (EPS $2.81 vs. $2.68; revenue $1.42B vs. $1.40B, +11% YoY), pays a $0.60 quarterly dividend (≈1.1% yield), and holds a consensus "Moderate Buy" with an average price target near $299 (some analysts as high as $345).

Aberdeen Group plc decreased its position in shares of ResMed Inc. (NYSE:RMD - Free Report) by 13.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 239,236 shares of the medical equipment provider's stock after selling 37,737 shares during the period. Aberdeen Group plc owned approximately 0.16% of ResMed worth $57,625,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of RMD. First Trust Advisors LP grew its position in ResMed by 285.1% during the third quarter. First Trust Advisors LP now owns 445,198 shares of the medical equipment provider's stock worth $121,864,000 after buying an additional 329,588 shares in the last quarter. Marshall Wace LLP increased its holdings in ResMed by 2,373.1% in the 3rd quarter. Marshall Wace LLP now owns 310,987 shares of the medical equipment provider's stock valued at $85,126,000 after buying an additional 298,412 shares during the period. Nordea Investment Management AB increased its holdings in ResMed by 37.2% in the 4th quarter. Nordea Investment Management AB now owns 1,084,996 shares of the medical equipment provider's stock valued at $262,027,000 after buying an additional 294,124 shares during the period. Vanguard Group Inc. raised its position in shares of ResMed by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 19,040,440 shares of the medical equipment provider's stock valued at $5,211,940,000 after buying an additional 293,515 shares in the last quarter. Finally, Giverny Capital Inc. acquired a new position in shares of ResMed in the 3rd quarter valued at approximately $64,441,000. 54.98% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Michael J. Farrell sold 4,991 shares of the company's stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $251.03, for a total value of $1,252,890.73. Following the sale, the chief executive officer owned 466,223 shares in the company, valued at $117,035,959.69. This represents a 1.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Peter C. Farrell sold 2,000 shares of the firm's stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total transaction of $450,000.00. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 23,023 shares of company stock valued at $5,843,111. 0.65% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Piper Sandler lifted their price objective on shares of ResMed from $270.00 to $275.00 and gave the company a "neutral" rating in a research note on Friday, January 30th. Citigroup raised their target price on ResMed from $330.00 to $345.00 and gave the company a "buy" rating in a report on Monday, February 2nd. Weiss Ratings lowered ResMed from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, March 19th. Stifel Nicolaus boosted their price target on ResMed from $260.00 to $265.00 and gave the stock a "hold" rating in a report on Friday, January 30th. Finally, Robert W. Baird set a $281.00 price objective on ResMed in a research report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $299.27.

ResMed Price Performance

RMD stock opened at $224.23 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.06 and a quick ratio of 2.32. The company's 50-day moving average is $246.52 and its 200-day moving average is $253.41. The stock has a market capitalization of $32.67 billion, a PE ratio of 22.18, a price-to-earnings-growth ratio of 1.49 and a beta of 0.93. ResMed Inc. has a 1 year low of $199.92 and a 1 year high of $293.81.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings results on Friday, January 30th. The medical equipment provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.13. ResMed had a return on equity of 25.20% and a net margin of 27.53%.The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the company earned $2.43 earnings per share. The company's quarterly revenue was up 11.0% on a year-over-year basis. Equities research analysts expect that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Thursday, February 12th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, February 12th. This represents a $2.40 annualized dividend and a dividend yield of 1.1%. ResMed's payout ratio is presently 23.74%.

ResMed Profile

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.

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