ResMed Inc. (NYSE:RMD) Position Reduced by Entropy Technologies LP

Entropy Technologies LP decreased its position in shares of ResMed Inc. (NYSE:RMD) by 85.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,089 shares of the medical equipment provider’s stock after selling 6,581 shares during the period. Entropy Technologies LP’s holdings in ResMed were worth $249,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. True Wealth Design LLC raised its holdings in ResMed by 2,200.0% during the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 110 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in ResMed during the third quarter worth approximately $34,000. Rosenberg Matthew Hamilton bought a new stake in ResMed during the fourth quarter worth approximately $54,000. Capital Performance Advisors LLP bought a new stake in ResMed during the third quarter worth approximately $60,000. Finally, Venturi Wealth Management LLC increased its holdings in shares of ResMed by 55.7% in the third quarter. Venturi Wealth Management LLC now owns 341 shares of the medical equipment provider’s stock valued at $83,000 after buying an additional 122 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on RMD shares. The Goldman Sachs Group started coverage on ResMed in a report on Thursday, January 16th. They issued a “buy” rating on the stock. Stifel Nicolaus started coverage on ResMed in a report on Friday, December 13th. They issued a “hold” rating and a $250.00 price target on the stock. Robert W. Baird upped their price target on ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a report on Friday, October 25th. UBS Group raised ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Finally, KeyCorp upped their price target on ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, ResMed currently has an average rating of “Moderate Buy” and a consensus price target of $244.73.

Insider Activity

In other news, CEO Michael J. Farrell sold 8,009 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the transaction, the chief executive officer now directly owns 455,472 shares in the company, valued at $107,842,105.44. The trade was a 1.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Justin Leong sold 6,160 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the transaction, the insider now owns 21,718 shares in the company, valued at approximately $5,279,428.62. This represents a 22.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,307 shares of company stock worth $4,403,180 in the last ninety days. Corporate insiders own 0.71% of the company’s stock.

ResMed Trading Up 1.2 %

NYSE RMD opened at $239.39 on Friday. ResMed Inc. has a twelve month low of $170.56 and a twelve month high of $263.05. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. The stock has a market cap of $35.16 billion, a price-to-earnings ratio of 28.26, a PEG ratio of 1.57 and a beta of 0.70. The firm’s 50 day moving average price is $238.68 and its two-hundred day moving average price is $238.29.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. Equities analysts anticipate that ResMed Inc. will post 9.44 EPS for the current year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Thursday, February 13th. ResMed’s dividend payout ratio is currently 25.03%.

ResMed Company Profile

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 ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.