C WorldWide Group Holding A S Sells 178,160 Shares of ResMed Inc. (NYSE:RMD)

C WorldWide Group Holding A S trimmed its stake in ResMed Inc. (NYSE:RMD) by 75.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 57,556 shares of the medical equipment provider’s stock after selling 178,160 shares during the period. C WorldWide Group Holding A S’s holdings in ResMed were worth $13,162,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. True Wealth Design LLC increased its position in ResMed by 2,200.0% in the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 110 shares during the period. Ashton Thomas Securities LLC bought a new position in ResMed in the 3rd quarter worth approximately $34,000. Rosenberg Matthew Hamilton bought a new position in ResMed in the 4th quarter worth approximately $54,000. Capital Performance Advisors LLP bought a new position in ResMed in the 3rd quarter worth approximately $60,000. Finally, Kentucky Trust Co bought a new position in ResMed in the 4th quarter worth approximately $82,000. 54.98% of the stock is owned by institutional investors.

ResMed Price Performance

Shares of RMD stock opened at $231.61 on Monday. The stock’s fifty day simple moving average is $237.43 and its 200 day simple moving average is $239.41. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The firm has a market cap of $34.02 billion, a price-to-earnings ratio of 27.34, a P/E/G ratio of 1.53 and a beta of 0.70. ResMed Inc. has a one year low of $170.56 and a one year high of $263.05.

ResMed (NYSE:RMD) last announced 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 return on equity of 26.17% and a net margin of 25.34%. On average, analysts expect that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be given a $0.53 dividend. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 0.92%. ResMed’s payout ratio is 25.03%.

Insider Buying and Selling at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $245.65, for a total value of $491,300.00. Following the completion of the transaction, the director now owns 81,218 shares in the company, valued at approximately $19,951,201.70. The trade was a 2.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction on Friday, February 7th. The shares were sold at an average price of $236.77, for a total value of $1,896,290.93. Following the completion of the transaction, the chief executive officer now owns 455,472 shares of the company’s stock, valued at approximately $107,842,105.44. The trade was a 1.73 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,147 shares of company stock worth $2,905,745. 0.71% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

RMD has been the topic of several recent analyst reports. The Goldman Sachs Group initiated coverage on ResMed in a research report on Thursday, January 16th. They issued a “buy” rating on the stock. Stifel Nicolaus initiated coverage on ResMed in a research report on Friday, December 13th. They issued a “hold” rating and a $250.00 price target on the stock. KeyCorp lifted their price target on ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. lifted their price objective on ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, UBS Group raised ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, ResMed has an average rating of “Moderate Buy” and a consensus target price of $244.73.

About ResMed

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.