Graham Capital Management L.P. Decreases Stock Holdings in ResMed Inc. (NYSE:RMD)

Graham Capital Management L.P. trimmed its stake in ResMed Inc. (NYSE:RMD - Free Report) by 76.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,240 shares of the medical equipment provider's stock after selling 3,939 shares during the quarter. Graham Capital Management L.P.'s holdings in ResMed were worth $284,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of RMD. Invesco Ltd. boosted its stake in shares of ResMed by 32.2% during the 4th quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider's stock worth $531,706,000 after acquiring an additional 566,046 shares during the period. Norges Bank bought a new stake in ResMed in the 4th quarter valued at $118,605,000. Captrust Financial Advisors raised its holdings in ResMed by 813.4% in the 4th quarter. Captrust Financial Advisors now owns 443,340 shares of the medical equipment provider's stock valued at $101,387,000 after acquiring an additional 394,803 shares in the last quarter. AQR Capital Management LLC raised its holdings in ResMed by 133.6% in the 4th quarter. AQR Capital Management LLC now owns 625,054 shares of the medical equipment provider's stock valued at $142,944,000 after acquiring an additional 357,466 shares in the last quarter. Finally, BLI Banque de Luxembourg Investments acquired a new position in ResMed in the 4th quarter valued at $74,793,000. 54.98% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Kaushik Ghoshal sold 9,745 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $239.31, for a total value of $2,332,075.95. Following the transaction, the insider now owns 9,725 shares in the company, valued at $2,327,289.75. This trade represents a 50.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Witte Jan De sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $243.47, for a total value of $486,940.00. Following the completion of the transaction, the director now owns 5,806 shares in the company, valued at $1,413,586.82. This represents a 25.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,949 shares of company stock worth $11,822,260 over the last 90 days. 0.71% of the stock is currently owned by corporate insiders.

ResMed Stock Down 1.0%

NYSE:RMD traded down $2.46 on Friday, hitting $243.03. The stock had a trading volume of 558,144 shares, compared to its average volume of 1,021,518. The business's fifty day moving average is $227.88 and its 200 day moving average is $234.34. The company has a market cap of $35.63 billion, a PE ratio of 28.69, a P/E/G ratio of 1.53 and a beta of 0.78. 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 Inc. has a 52 week low of $179.42 and a 52 week high of $263.05.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.01. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. ResMed had a return on equity of 26.17% and a net margin of 25.34%. The company's quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.13 earnings per share. On average, equities research analysts expect that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Thursday, May 8th. ResMed's dividend payout ratio (DPR) is presently 23.79%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RMD. Mizuho set a $265.00 price target on ResMed in a report on Wednesday, April 16th. Stifel Nicolaus reduced their price target on ResMed from $250.00 to $240.00 and set a "hold" rating on the stock in a research report on Wednesday, March 5th. JPMorgan Chase & Co. upped their price target on ResMed from $286.00 to $290.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. UBS Group cut their target price on ResMed from $290.00 to $285.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Finally, Wall Street Zen upgraded ResMed from a "hold" rating to a "buy" rating in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $259.33.

About ResMed

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.