Gateway Investment Advisers LLC Has $780,000 Stake in ResMed Inc. (NYSE:RMD)

Gateway Investment Advisers LLC trimmed its holdings in ResMed Inc. (NYSE:RMD - Free Report) by 24.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,486 shares of the medical equipment provider's stock after selling 1,154 shares during the quarter. Gateway Investment Advisers LLC's holdings in ResMed were worth $780,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of RMD. First Horizon Advisors Inc. grew its stake in shares of ResMed by 285.1% in the 4th quarter. First Horizon Advisors Inc. now owns 593 shares of the medical equipment provider's stock valued at $136,000 after buying an additional 439 shares during the period. Asset Management One Co. Ltd. lifted its holdings in ResMed by 2.8% in the fourth 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. Mirae Asset Global Investments Co. Ltd. grew its position in ResMed by 38.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,830 shares of the medical equipment provider's stock worth $2,989,000 after acquiring an additional 3,576 shares during the period. Cumberland Partners Ltd increased its stake in ResMed by 550.0% during the fourth quarter. Cumberland Partners Ltd now owns 13,000 shares of the medical equipment provider's stock worth $2,973,000 after acquiring an additional 11,000 shares during the last quarter. Finally, Alberta Investment Management Corp purchased a new stake in ResMed in the fourth quarter valued at $2,378,000. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling 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 stock was sold at an average price of $219.74, for a total value of $439,480.00. Following the completion of the sale, the director now owns 73,218 shares in the company, valued at $16,088,923.32. This represents a 2.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael J. Farrell sold 8,009 shares of the company's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $243.23, for a total value of $1,948,029.07. Following the sale, the chief executive officer now directly owns 455,503 shares of the company's stock, valued at approximately $110,791,994.69. This represents a 1.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,132 shares of company stock valued at $7,075,837 in the last quarter. Corporate insiders own 0.71% of the company's stock.

ResMed Stock Performance

NYSE:RMD traded up $0.49 during trading hours on Thursday, reaching $251.85. 573,049 shares of the stock were exchanged, compared to its average volume of 1,011,641. ResMed Inc. has a 52 week low of $179.42 and a 52 week high of $263.05. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $36.93 billion, a P/E ratio of 29.73, a P/E/G ratio of 1.53 and a beta of 0.78. The firm has a 50 day simple moving average of $235.14 and a 200-day simple moving average of $234.83.

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

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 8th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend is Thursday, May 8th. ResMed's payout ratio is currently 23.79%.

Analyst Ratings Changes

RMD has been the topic of several recent analyst reports. Morgan Stanley set a $286.00 price objective on shares of ResMed and gave the stock an "overweight" rating in a report on Tuesday, May 20th. Stifel Nicolaus decreased 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. Piper Sandler lowered their price target on ResMed from $260.00 to $248.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Citigroup raised ResMed from a "neutral" rating to a "buy" rating in a research note on Wednesday, March 5th. Finally, Royal Bank of Canada raised their price target on shares of ResMed from $247.00 to $255.00 and gave the company a "sector perform" rating in a research report on Thursday, April 24th. 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat, ResMed has an average rating of "Moderate Buy" and an average 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.