Gotham Asset Management LLC Reduces Holdings in ResMed Inc. (NYSE:RMD)

Gotham Asset Management LLC trimmed its holdings in shares of ResMed Inc. (NYSE:RMD - Free Report) by 44.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 25,880 shares of the medical equipment provider's stock after selling 20,563 shares during the period. Gotham Asset Management LLC's holdings in ResMed were worth $5,918,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. First Horizon Advisors Inc. raised its position in shares of ResMed by 285.1% during the 4th quarter. First Horizon Advisors Inc. now owns 593 shares of the medical equipment provider's stock worth $136,000 after purchasing an additional 439 shares during the period. Peak Financial Advisors LLC purchased a new stake in shares of ResMed during the 4th quarter worth about $2,972,000. Spire Wealth Management increased its stake in shares of ResMed by 11.3% during the 4th quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider's stock worth $2,470,000 after purchasing an additional 1,100 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in ResMed by 2.8% during 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 buying an additional 1,629 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of ResMed by 38.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,830 shares of the medical equipment provider's stock valued at $2,989,000 after acquiring an additional 3,576 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors.

ResMed Price Performance

RMD stock traded up $0.48 during midday trading on Monday, reaching $252.17. The company had a trading volume of 111,916 shares, compared to its average volume of 1,015,684. The stock has a 50 day moving average price of $225.34 and a 200-day moving average price of $234.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. ResMed Inc. has a 1-year low of $179.42 and a 1-year high of $263.05. The company has a market capitalization of $36.97 billion, a price-to-earnings ratio of 29.75, a price-to-earnings-growth ratio of 1.53 and a beta of 0.78.

ResMed (NYSE:RMD - Get Free Report) last posted its earnings results 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 net margin of 25.34% and a return on equity of 26.17%. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the firm posted $2.13 EPS. The company's revenue for the quarter was up 7.9% compared to the same quarter last year. Equities research analysts expect 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 will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.84%. ResMed's dividend payout ratio (DPR) is presently 23.79%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. KeyCorp set a $274.00 target price on shares of ResMed in a research report on Thursday, April 24th. Needham & Company LLC reiterated a "hold" rating on shares of ResMed in a research report on Friday, January 31st. Mizuho set a $265.00 price target on shares of ResMed in a research note on Wednesday, April 16th. Citigroup raised ResMed from a "neutral" rating to a "buy" rating in a research report on Wednesday, March 5th. Finally, Royal Bank of Canada boosted their price target on shares of ResMed from $247.00 to $255.00 and gave the stock a "sector perform" rating in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, ResMed has an average rating of "Moderate Buy" and a consensus price target of $258.83.

Insider Transactions at ResMed

In other ResMed news, insider Kaushik Ghoshal sold 9,745 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the sale, 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 SEC, which is available at this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction on Monday, April 7th. The shares were sold at an average price of $209.85, for a total transaction of $1,680,688.65. Following the transaction, the chief executive officer now directly owns 455,472 shares in the company, valued at approximately $95,580,799.20. This represents a 1.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,949 shares of company stock valued at $11,335,320 over the last ninety days. 0.71% of the stock is owned by company insiders.

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.