ResMed Inc. (NYSE:RMD) Shares Sold by American International Group Inc.

American International Group Inc. decreased its stake in shares of ResMed Inc. (NYSE:RMD) by 2.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,223 shares of the medical equipment provider’s stock after selling 915 shares during the quarter. American International Group Inc.’s holdings in ResMed were worth $7,607,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Virtu Financial LLC acquired a new position in ResMed during the 4th quarter valued at approximately $1,293,000. Greenvale Capital LLP increased its stake in shares of ResMed by 198.3% in the fourth quarter. Greenvale Capital LLP now owns 551,901 shares of the medical equipment provider’s stock worth $94,938,000 after acquiring an additional 366,901 shares during the period. Bridgefront Capital LLC acquired a new stake in shares of ResMed in the fourth quarter worth $597,000. Vista Investment Management increased its stake in shares of ResMed by 4.9% in the fourth quarter. Vista Investment Management now owns 5,347 shares of the medical equipment provider’s stock worth $920,000 after acquiring an additional 252 shares during the period. Finally, Advanced Portfolio Management LLC acquired a new stake in shares of ResMed in the fourth quarter worth $1,511,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Buying and Selling at ResMed

In other news, Director Karen Drexler sold 425 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $214.92, for a total value of $91,341.00. Following the transaction, the director now directly owns 8,446 shares of the company’s stock, valued at $1,815,214.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Michael J. Farrell sold 14,683 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $216.50, for a total value of $3,178,869.50. Following the transaction, the chief executive officer now directly 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 this link. Also, Director Karen Drexler sold 425 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $214.92, for a total transaction of $91,341.00. Following the completion of the transaction, the director now directly owns 8,446 shares in the company, valued at $1,815,214.32. The disclosure for this sale can be found here. Insiders have sold a total of 31,151 shares of company stock valued at $6,666,409 over the last ninety days. Corporate insiders own 1.21% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on RMD shares. KeyCorp increased their price objective on shares of ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Needham & Company LLC increased their price objective on shares of ResMed from $224.00 to $236.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Mizuho reiterated a “buy” rating and issued a $215.00 price objective on shares of ResMed in a research note on Wednesday, March 27th. Oppenheimer cut their price objective on shares of ResMed from $205.00 to $200.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. Finally, Royal Bank of Canada increased their price target on shares of ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a report on Friday, April 26th. Four investment 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 presently has an average rating of “Moderate Buy” and an average price target of $202.80.

ResMed Stock Performance

RMD opened at $212.27 on Thursday. The company has a quick ratio of 1.97, a current ratio of 3.04 and a debt-to-equity ratio of 0.22. The company has a market cap of $31.18 billion, a price-to-earnings ratio of 32.61, a PEG ratio of 2.07 and a beta of 0.68. ResMed Inc. has a 52-week low of $132.24 and a 52-week high of $229.97. The firm’s fifty day simple moving average is $206.89 and its two-hundred day simple moving average is $189.79.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.22. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.17 billion. ResMed had a net margin of 20.91% and a return on equity of 24.43%. The company’s revenue was up 7.2% compared to the same quarter last year. During the same period last year, the firm posted $1.68 earnings per share. Equities analysts anticipate that ResMed Inc. will post 7.7 earnings per share for the current fiscal year.

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 9th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend was Wednesday, May 8th. ResMed’s payout ratio is 29.49%.

About ResMed

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.