Ardevora Asset Management LLP Cuts Stock Holdings in ResMed Inc. (NYSE:RMD)

Ardevora Asset Management LLP decreased its position in ResMed Inc. (NYSE:RMD - Free Report) by 53.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 64,746 shares of the medical equipment provider's stock after selling 73,562 shares during the period. Ardevora Asset Management LLP's holdings in ResMed were worth $11,138,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its stake in ResMed by 13.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,231 shares of the medical equipment provider's stock valued at $7,781,000 after buying an additional 5,517 shares during the last quarter. Vaughan David Investments LLC IL purchased a new stake in ResMed in the 4th quarter valued at about $29,322,000. International Assets Investment Management LLC increased its stake in ResMed by 11,960.3% in the 4th quarter. International Assets Investment Management LLC now owns 22,191 shares of the medical equipment provider's stock valued at $3,817,000 after buying an additional 22,007 shares during the last quarter. Synergy Asset Management LLC increased its stake in ResMed by 29.2% in the 4th quarter. Synergy Asset Management LLC now owns 69,383 shares of the medical equipment provider's stock valued at $11,935,000 after buying an additional 15,663 shares during the last quarter. Finally, Inspire Advisors LLC increased its stake in ResMed by 20.2% in the 3rd quarter. Inspire Advisors LLC now owns 1,553 shares of the medical equipment provider's stock valued at $230,000 after buying an additional 261 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company's stock.

Insider Buying and Selling at ResMed

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

ResMed Stock Performance

RMD traded up $1.24 on Friday, hitting $178.85. The company's stock had a trading volume of 1,303,527 shares, compared to its average volume of 1,025,071. The company's 50 day simple moving average is $186.18 and its 200-day simple moving average is $170.79. The firm has a market cap of $26.31 billion, a P/E ratio of 29.56, a price-to-earnings-growth ratio of 2.19 and a beta of 0.67. ResMed Inc. has a 12 month low of $132.24 and a 12 month high of $243.52. The company has a quick ratio of 1.89, a current ratio of 3.11 and a debt-to-equity ratio of 0.27.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings results on Wednesday, January 24th. The medical equipment provider reported $1.88 EPS for the quarter, beating the consensus estimate of $1.81 by $0.07. ResMed had a net margin of 19.77% and a return on equity of 23.86%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the firm earned $1.66 EPS. The business's quarterly revenue was up 12.5% compared to the same quarter last year. Analysts forecast that ResMed Inc. will post 7.47 EPS for the current year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Thursday, February 8th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.07%. The ex-dividend date was Wednesday, February 7th. ResMed's payout ratio is 31.74%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RMD. Mizuho restated a "buy" rating and set a $215.00 price target on shares of ResMed in a research note on Wednesday, March 27th. UBS Group raised their price target on shares of ResMed from $175.00 to $180.00 and gave the stock a "neutral" rating in a research note on Thursday, January 25th. Needham & Company LLC raised their price target on shares of ResMed from $215.00 to $224.00 and gave the stock a "buy" rating in a research note on Monday, April 1st. JPMorgan Chase & Co. raised their price target on shares of ResMed from $160.00 to $195.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 9th. Finally, Oppenheimer raised their price target on shares of ResMed from $185.00 to $205.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 30th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $199.20.

About ResMed

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.