2Xideas AG Lowers Stock Holdings in ResMed Inc. (NYSE:RMD)

2Xideas AG lessened its holdings in shares of ResMed Inc. (NYSE:RMD) by 30.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 215,880 shares of the medical equipment provider’s stock after selling 93,151 shares during the quarter. ResMed comprises approximately 5.2% of 2Xideas AG’s portfolio, making the stock its 4th biggest holding. 2Xideas AG owned 0.15% of ResMed worth $42,751,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of RMD. Janus Henderson Group PLC boosted its holdings in shares of ResMed by 4.8% in the first quarter. Janus Henderson Group PLC now owns 19,516 shares of the medical equipment provider’s stock worth $3,865,000 after acquiring an additional 902 shares during the period. Bayesian Capital Management LP boosted its stake in ResMed by 110.2% in the 1st quarter. Bayesian Capital Management LP now owns 8,965 shares of the medical equipment provider’s stock worth $1,775,000 after purchasing an additional 4,700 shares during the period. Mount Yale Investment Advisors LLC grew its holdings in ResMed by 2.8% during the 1st quarter. Mount Yale Investment Advisors LLC now owns 3,662 shares of the medical equipment provider’s stock valued at $725,000 after buying an additional 99 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of ResMed by 2.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 416,761 shares of the medical equipment provider’s stock valued at $82,532,000 after buying an additional 11,908 shares during the period. Finally, 1832 Asset Management L.P. bought a new stake in shares of ResMed during the first quarter valued at about $6,782,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on RMD shares. Royal Bank of Canada boosted their price objective on shares of ResMed from $200.00 to $204.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 23rd. KeyCorp upped their price target on shares of ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Citigroup downgraded ResMed from a “buy” rating to a “neutral” rating in a research report on Monday, June 24th. Needham & Company LLC restated a “buy” rating and set a $236.00 target price on shares of ResMed in a research report on Monday, June 24th. Finally, Oppenheimer lowered ResMed from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $203.20.

Insiders Place Their Bets

In related news, CFO Brett Sandercock sold 1,000 shares of ResMed stock in a transaction on Monday, July 8th. The shares were sold at an average price of $194.35, for a total value of $194,350.00. Following the transaction, the chief financial officer now owns 90,056 shares in the company, valued at approximately $17,502,383.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 440,752 shares of the company’s stock, valued at $95,422,808. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Brett Sandercock sold 1,000 shares of ResMed stock in a transaction on Monday, July 8th. The stock was sold at an average price of $194.35, for a total transaction of $194,350.00. Following the completion of the transaction, the chief financial officer now directly owns 90,056 shares in the company, valued at $17,502,383.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,409 shares of company stock valued at $9,602,796. 1.21% of the stock is currently owned by corporate insiders.

ResMed Price Performance

Shares of NYSE RMD traded down $0.50 during trading hours on Tuesday, reaching $208.04. 739,705 shares of the stock traded hands, compared to its average volume of 1,050,608. The company’s 50-day simple moving average is $203.72 and its two-hundred day simple moving average is $195.69. The company has a market capitalization of $30.56 billion, a P/E ratio of 31.96, a price-to-earnings-growth ratio of 1.70 and a beta of 0.66. ResMed Inc. has a 52-week low of $132.24 and a 52-week high of $229.97. The company has a quick ratio of 1.97, a current ratio of 3.04 and a debt-to-equity ratio of 0.22.

ResMed Profile

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.