XY Capital Ltd Reduces Stock Position in ResMed Inc. (NYSE:RMD)

XY Capital Ltd reduced its stake in ResMed Inc. (NYSE:RMD - Free Report) by 18.5% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 74,580 shares of the medical equipment provider's stock after selling 16,884 shares during the quarter. ResMed accounts for approximately 7.5% of XY Capital Ltd's portfolio, making the stock its largest holding. XY Capital Ltd owned 0.05% of ResMed worth $12,829,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Ballentine Partners LLC bought a new stake in ResMed during the 4th quarter valued at $223,000. WoodTrust Financial Corp bought a new stake in ResMed in the fourth quarter valued at $1,139,000. Parcion Private Wealth LLC purchased a new position in ResMed during the 4th quarter valued at $5,448,000. Addenda Capital Inc. raised its holdings in ResMed by 63.6% in the 4th quarter. Addenda Capital Inc. now owns 48,628 shares of the medical equipment provider's stock worth $8,365,000 after purchasing an additional 18,903 shares in the last quarter. Finally, State of Michigan Retirement System lifted its position in shares of ResMed by 0.5% in the 4th quarter. State of Michigan Retirement System now owns 41,711 shares of the medical equipment provider's stock worth $7,175,000 after purchasing an additional 200 shares during the period. 54.98% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, General Counsel Michael J. Rider sold 200 shares of the business's stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $173.25, for a total value of $34,650.00. Following the transaction, the general counsel now directly owns 6,688 shares in the company, valued at $1,158,696. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, General Counsel Michael J. Rider sold 200 shares of ResMed stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $173.25, for a total transaction of $34,650.00. Following the sale, the general counsel now owns 6,688 shares of the company's stock, valued at approximately $1,158,696. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter C. Farrell sold 10,935 shares of the company's stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total value of $1,997,387.10. Following the completion of the transaction, the director now owns 157,404 shares of the company's stock, valued at $28,751,414.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,216 shares of company stock worth $2,046,617. Corporate insiders own 1.21% of the company's stock.

ResMed Stock Performance

Shares of NYSE RMD traded down $1.04 during midday trading on Thursday, hitting $185.00. 869,897 shares of the stock traded hands, compared to its average volume of 1,000,187. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.89 and a current ratio of 3.11. ResMed Inc. has a one year low of $132.24 and a one year high of $243.52. The firm has a market capitalization of $27.21 billion, a P/E ratio of 30.58, a PEG ratio of 2.28 and a beta of 0.67. The firm has a 50-day moving average of $187.09 and a two-hundred day moving average of $167.11.

ResMed (NYSE:RMD - Get Free Report) last announced its earnings results on Wednesday, January 24th. The medical equipment provider reported $1.88 EPS for the quarter, topping analysts' consensus estimates of $1.81 by $0.07. The company had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.15 billion. ResMed had a return on equity of 23.86% and a net margin of 19.77%. ResMed's revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period last year, the firm earned $1.66 EPS. On average, equities analysts forecast that ResMed Inc. will post 7.45 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Thursday, February 8th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.04%. The ex-dividend date was Wednesday, February 7th. ResMed's dividend payout ratio is currently 31.74%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Mizuho reissued a "buy" rating and issued a $215.00 price target on shares of ResMed in a research note on Wednesday, March 27th. Needham & Company LLC lifted their price target on ResMed from $215.00 to $224.00 and gave the company a "buy" rating in a research report on Monday. UBS Group increased their price objective on ResMed from $175.00 to $180.00 and gave the stock a "neutral" rating in a report on Thursday, January 25th. Royal Bank of Canada boosted their target price on shares of ResMed from $181.00 to $182.00 and gave the company a "sector perform" rating in a report on Thursday, January 25th. Finally, KeyCorp started coverage on ResMed in a report on Tuesday, February 6th. They set an "overweight" rating and a $227.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $199.20.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.

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