Mn Services Vermogensbeheer B.V. Cuts Stock Holdings in ResMed Inc. (NYSE:RMD)

Mn Services Vermogensbeheer B.V. lowered its stake in ResMed Inc. (NYSE:RMD - Free Report) by 7.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,178 shares of the medical equipment provider's stock after selling 4,200 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in ResMed were worth $11,904,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in RMD. First Horizon Advisors Inc. grew its holdings in ResMed by 285.1% during the 4th quarter. First Horizon Advisors Inc. now owns 593 shares of the medical equipment provider's stock valued at $136,000 after purchasing an additional 439 shares during the last quarter. Asset Management One Co. Ltd. grew its position in ResMed by 2.8% in the 4th quarter. Asset Management One Co. Ltd. now owns 60,489 shares of the medical equipment provider's stock valued at $14,105,000 after acquiring an additional 1,629 shares during the last quarter. Cumberland Partners Ltd increased its stake in ResMed by 550.0% in the fourth quarter. Cumberland Partners Ltd now owns 13,000 shares of the medical equipment provider's stock worth $2,973,000 after purchasing an additional 11,000 shares during the period. Alberta Investment Management Corp bought a new stake in shares of ResMed during the fourth quarter worth $2,378,000. Finally, Atria Wealth Solutions Inc. bought a new stake in shares of ResMed during the fourth quarter worth $601,000. 54.98% of the stock is owned by institutional investors.

Insider Activity at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $219.74, for a total value of $439,480.00. Following the sale, the director now directly owns 73,218 shares of the company's stock, valued at $16,088,923.32. This represents a 2.66% 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, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $209.85, for a total value of $1,680,688.65. Following the sale, the chief executive officer now directly owns 455,472 shares in the company, valued at $95,580,799.20. This represents a 1.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,132 shares of company stock valued at $7,075,837 in the last three months. 0.71% of the stock is owned by insiders.

ResMed Stock Up 0.9%

RMD traded up $2.27 during trading on Monday, hitting $251.61. The stock had a trading volume of 645,873 shares, compared to its average volume of 1,009,028. The stock has a 50 day simple moving average of $236.81 and a two-hundred day simple moving average of $234.64. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. ResMed Inc. has a twelve month low of $179.42 and a twelve month high of $263.05. The company has a market capitalization of $36.89 billion, a PE ratio of 29.71, a PEG ratio of 1.53 and a beta of 0.78.

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

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $2.12 annualized dividend and a dividend yield of 0.84%. ResMed's dividend payout ratio (DPR) is currently 23.79%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. KeyCorp set a $274.00 target price on shares of ResMed in a research report on Thursday, April 24th. Morgan Stanley set a $286.00 price objective on ResMed and gave the stock an "overweight" rating in a research note on Tuesday, May 20th. JPMorgan Chase & Co. lifted their target price on ResMed from $286.00 to $290.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Wall Street Zen cut ResMed from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Finally, Stifel Nicolaus cut their price target on ResMed from $250.00 to $240.00 and set a "hold" rating on the stock in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $259.33.

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.