Shell Asset Management Co. Has $667,000 Stock Holdings in ResMed Inc. (NYSE:RMD)

Shell Asset Management Co. lowered its stake in ResMed Inc. (NYSE:RMDGet Rating) by 13.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,750 shares of the medical equipment provider’s stock after selling 439 shares during the quarter. Shell Asset Management Co.’s holdings in ResMed were worth $667,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in ResMed by 2.8% in the 4th quarter. BlackRock Inc. now owns 13,048,735 shares of the medical equipment provider’s stock worth $3,398,935,000 after purchasing an additional 360,161 shares during the period. State Street Corp boosted its position in shares of ResMed by 4.1% during the fourth quarter. State Street Corp now owns 6,523,922 shares of the medical equipment provider’s stock worth $1,699,351,000 after buying an additional 255,361 shares during the period. Ownership Capital B.V. grew its holdings in shares of ResMed by 14.2% during the first quarter. Ownership Capital B.V. now owns 1,544,254 shares of the medical equipment provider’s stock worth $374,497,000 after buying an additional 192,434 shares in the last quarter. Norges Bank acquired a new stake in ResMed in the 4th quarter valued at approximately $293,743,000. Finally, JPMorgan Chase & Co. boosted its position in ResMed by 6.7% during the 4th quarter. JPMorgan Chase & Co. now owns 793,349 shares of the medical equipment provider’s stock worth $206,651,000 after acquiring an additional 49,689 shares during the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Insider Buying and Selling

In other ResMed news, CFO Brett Sandercock sold 7,500 shares of ResMed stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $235.00, for a total transaction of $1,762,500.00. Following the completion of the transaction, the chief financial officer now directly owns 106,426 shares of the company’s stock, valued at $25,010,110. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Michael J. Farrell sold 5,675 shares of the company’s stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $196.61, for a total value of $1,115,761.75. Following the transaction, the chief executive officer now owns 405,260 shares of the company’s stock, valued at $79,678,168.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brett Sandercock sold 7,500 shares of ResMed stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $235.00, for a total value of $1,762,500.00. Following the sale, the chief financial officer now directly owns 106,426 shares of the company’s stock, valued at $25,010,110. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,615 shares of company stock valued at $5,955,845. 1.42% of the stock is owned by insiders.

ResMed Price Performance

Shares of NYSE RMD opened at $239.20 on Tuesday. The company has a quick ratio of 1.56, a current ratio of 2.55 and a debt-to-equity ratio of 0.20. The business’s 50 day moving average price is $214.65 and its two-hundred day moving average price is $226.02. The company has a market cap of $34.99 billion, a PE ratio of 45.05, a price-to-earnings-growth ratio of 2.32 and a beta of 0.47. ResMed Inc. has a twelve month low of $189.40 and a twelve month high of $301.34.

Wall Street Analyst Weigh In

RMD has been the topic of a number of recent research reports. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a report on Monday. Wolfe Research began coverage on shares of ResMed in a research note on Tuesday, April 5th. They set an “outperform” rating and a $280.00 price objective for the company. Finally, Royal Bank of Canada raised ResMed from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $233.00 to $244.00 in a research report on Monday, June 6th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $264.80.

ResMed Profile

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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 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.

Further Reading

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Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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