Man Group plc Sells 15,247 Shares of ResMed Inc. (NYSE:RMD)

Man Group plc lessened its position in shares of ResMed Inc. (NYSE:RMD - Free Report) by 10.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 134,842 shares of the medical equipment provider's stock after selling 15,247 shares during the period. Man Group plc owned 0.09% of ResMed worth $30,837,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. First Horizon Advisors Inc. increased 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 valued at $136,000 after purchasing an additional 439 shares during the last quarter. Spire Wealth Management lifted its stake in shares of ResMed by 11.3% in the 4th quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider's stock valued at $2,470,000 after purchasing an additional 1,100 shares during the period. Asset Management One Co. Ltd. lifted its stake in shares of 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 purchasing an additional 1,629 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in ResMed by 38.6% during the fourth 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 buying an additional 3,576 shares during the last quarter. Finally, Cumberland Partners Ltd raised 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 valued at $2,973,000 after buying an additional 11,000 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company's stock.

Wall Street Analyst Weigh In

RMD has been the subject of several research analyst reports. Royal Bank of Canada lifted their price objective on ResMed from $247.00 to $255.00 and gave the stock a "sector perform" rating in a report on Thursday, April 24th. Mizuho set a $265.00 price target on ResMed in a research note on Wednesday, April 16th. Needham & Company LLC restated a "hold" rating on shares of ResMed in a research report on Friday, January 31st. JPMorgan Chase & Co. upped their price objective on ResMed from $286.00 to $290.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Finally, KeyCorp set a $274.00 price target on ResMed in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, ResMed has an average rating of "Moderate Buy" and a consensus price target of $258.83.

ResMed Price Performance

Shares of RMD traded up $1.27 during mid-day trading on Monday, reaching $252.96. 658,661 shares of the company's stock were exchanged, compared to its average volume of 1,017,810. The company has a market cap of $37.09 billion, a price-to-earnings ratio of 29.87, a PEG 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. The company has a 50-day simple moving average of $225.34 and a two-hundred day simple moving average of $234.11.

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, beating the consensus estimate of $2.36 by $0.01. ResMed had a net margin of 25.34% and a return on equity of 26.17%. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the business posted $2.13 EPS. The business's quarterly revenue was up 7.9% on a year-over-year basis. On average, sell-side analysts predict that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

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

Insider Buying and Selling at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of the company's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $242.25, for a total transaction of $484,500.00. Following the completion of the sale, the director now directly owns 71,218 shares of the company's stock, valued at approximately $17,252,560.50. This represents a 2.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $243.23, for a total transaction of $1,948,029.07. Following the completion of 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 trade represents a 1.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 48,949 shares of company stock valued at $11,335,320 in the last ninety days. Company insiders own 0.71% of the company's stock.

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.