Seven Eight Capital LP Sells 61,238 Shares of ResMed Inc. (NYSE:RMD)

Seven Eight Capital LP lessened its stake in shares of ResMed Inc. (NYSE:RMDFree Report) by 92.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,696 shares of the medical equipment provider’s stock after selling 61,238 shares during the quarter. Seven Eight Capital LP’s holdings in ResMed were worth $808,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Azimuth Capital Investment Management LLC raised its stake in shares of ResMed by 0.4% in the fourth quarter. Azimuth Capital Investment Management LLC now owns 66,780 shares of the medical equipment provider’s stock valued at $11,487,000 after acquiring an additional 250 shares during the last quarter. Exencial Wealth Advisors LLC boosted its stake in ResMed by 19.6% in the fourth quarter. Exencial Wealth Advisors LLC now owns 59,006 shares of the medical equipment provider’s stock worth $10,150,000 after purchasing an additional 9,686 shares in the last quarter. Pinebridge Investments L.P. boosted its stake in ResMed by 33.1% in the fourth quarter. Pinebridge Investments L.P. now owns 11,875 shares of the medical equipment provider’s stock worth $2,043,000 after purchasing an additional 2,951 shares in the last quarter. Cibc World Markets Corp grew its holdings in shares of ResMed by 133.4% during the fourth quarter. Cibc World Markets Corp now owns 18,930 shares of the medical equipment provider’s stock worth $3,256,000 after purchasing an additional 10,820 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado increased its stake in shares of ResMed by 61.4% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 16,694 shares of the medical equipment provider’s stock valued at $2,872,000 after buying an additional 6,352 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Trading Up 0.4 %

NYSE:RMD opened at $211.67 on Tuesday. The firm has a market capitalization of $31.10 billion, a price-to-earnings ratio of 32.51, a PEG ratio of 2.07 and a beta of 0.69. ResMed Inc. has a 1-year low of $132.24 and a 1-year high of $229.97. The business’s 50-day moving average price is $203.69 and its two-hundred day moving average price is $187.32. The company has a current ratio of 3.04, a quick ratio of 1.97 and a debt-to-equity ratio of 0.22.

ResMed (NYSE:RMDGet Free Report) last issued its quarterly earnings data on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $0.22. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.17 billion. ResMed had a net margin of 20.91% and a return on equity of 24.43%. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.68 earnings per share. On average, equities analysts expect that ResMed Inc. will post 7.7 earnings per share for the current year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 9th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Wednesday, May 8th. ResMed’s payout ratio is presently 29.49%.

Analyst Ratings Changes

Several brokerages recently issued reports on RMD. Needham & Company LLC upped their price target on shares of ResMed from $224.00 to $236.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Royal Bank of Canada upped their target price on shares of ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a research report on Friday, April 26th. KeyCorp raised their price target on shares of ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Mizuho reaffirmed a “buy” rating and set a $215.00 price objective on shares of ResMed in a report on Wednesday, March 27th. Finally, Oppenheimer lowered their target price on ResMed from $205.00 to $200.00 and set an “outperform” rating for the company in a research note on Friday, April 26th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $202.80.

Check Out Our Latest Stock Analysis on ResMed

Insiders Place Their Bets

In other ResMed news, Director Witte Jan De sold 360 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $218.29, for a total value of $78,584.40. Following the completion of the sale, the director now directly owns 7,519 shares in the company, valued at $1,641,322.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Witte Jan De sold 360 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $218.29, for a total value of $78,584.40. Following the completion of the transaction, the director now owns 7,519 shares in the company, valued at $1,641,322.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael J. Farrell sold 14,683 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $216.50, for a total transaction of $3,178,869.50. Following the sale, the chief executive officer now owns 440,752 shares in the company, valued at $95,422,808. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,151 shares of company stock worth $6,456,599. Corporate insiders own 1.21% of the company’s stock.

About ResMed

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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