Vinva Investment Management Ltd Reduces Stock Holdings in ResMed Inc. $RMD

Vinva Investment Management Ltd cut its holdings in ResMed Inc. (NYSE:RMD) by 22.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 7,050 shares of the medical equipment provider’s stock after selling 2,031 shares during the quarter. Vinva Investment Management Ltd’s holdings in ResMed were worth $1,911,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp raised its position in ResMed by 52.6% during the first quarter. Jones Financial Companies Lllp now owns 2,882 shares of the medical equipment provider’s stock worth $645,000 after acquiring an additional 994 shares during the last quarter. Wedbush Securities Inc. grew its position in shares of ResMed by 12.0% in the second quarter. Wedbush Securities Inc. now owns 3,658 shares of the medical equipment provider’s stock valued at $944,000 after purchasing an additional 391 shares during the last quarter. Penserra Capital Management LLC increased its stake in shares of ResMed by 6,500.0% during the 2nd quarter. Penserra Capital Management LLC now owns 792 shares of the medical equipment provider’s stock worth $204,000 after purchasing an additional 780 shares in the last quarter. Aviva PLC increased its stake in shares of ResMed by 23.4% during the 2nd quarter. Aviva PLC now owns 89,541 shares of the medical equipment provider’s stock worth $23,102,000 after purchasing an additional 16,985 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of ResMed by 5.8% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 279,876 shares of the medical equipment provider’s stock worth $72,208,000 after purchasing an additional 15,251 shares during the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Stock Up 0.1%

Shares of NYSE RMD opened at $253.03 on Tuesday. The firm has a market cap of $36.86 billion, a P/E ratio of 25.03, a price-to-earnings-growth ratio of 1.68 and a beta of 0.88. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.32 and a current ratio of 3.06. ResMed Inc. has a 1 year low of $199.92 and a 1 year high of $293.81. The firm’s 50 day moving average price is $255.43 and its 200 day moving average price is $259.58.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, January 29th. The medical equipment provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.13. ResMed had a return on equity of 25.20% and a net margin of 27.53%.The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the previous year, the firm posted $2.43 EPS. ResMed’s revenue was up 11.0% on a year-over-year basis. As a group, sell-side analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Thursday, February 12th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.9%. The ex-dividend date is Thursday, February 12th. ResMed’s dividend payout ratio is presently 23.74%.

Insider Activity

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $260.22, for a total value of $520,440.00. Following the completion of the sale, the director owned 62,773 shares in the company, valued at $16,334,790.06. The trade was a 3.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $273.78, for a total transaction of $1,366,435.98. Following the transaction, the chief executive officer directly owned 466,223 shares of the company’s stock, valued at approximately $127,642,532.94. This represents a 1.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 16,082 shares of company stock worth $4,152,307 over the last quarter. 0.65% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Robert W. Baird set a $281.00 target price on ResMed in a research note on Friday, January 30th. Royal Bank Of Canada raised their price target on ResMed from $311.00 to $314.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. UBS Group reissued a “buy” rating and issued a $345.00 price target on shares of ResMed in a report on Friday, December 12th. Piper Sandler upped their price objective on ResMed from $270.00 to $275.00 and gave the company a “neutral” rating in a research report on Friday, January 30th. Finally, Wall Street Zen raised ResMed from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $299.27.

ResMed Company Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.