ResMed Inc. (NYSE:RMD) Shares Sold by XTX Topco Ltd

XTX Topco Ltd cut its holdings in ResMed Inc. (NYSE:RMD) by 89.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,235 shares of the medical equipment provider’s stock after selling 10,069 shares during the quarter. XTX Topco Ltd’s holdings in ResMed were worth $301,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. True Wealth Design LLC lifted its stake in shares of ResMed by 2,200.0% during the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 110 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of ResMed during the third quarter valued at approximately $34,000. Financial Connections Group Inc. purchased a new position in shares of ResMed during the second quarter valued at approximately $37,000. Blue Trust Inc. lifted its stake in shares of ResMed by 182.7% during the second quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock valued at $42,000 after buying an additional 137 shares during the period. Finally, Rothschild Investment LLC purchased a new position in shares of ResMed during the second quarter valued at approximately $44,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RMD shares. Robert W. Baird upped their price objective on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Bank of America increased their price target on shares of ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Royal Bank of Canada increased their price target on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Baird R W raised shares of ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $227.91.

ResMed Stock Performance

Shares of RMD stock opened at $242.62 on Wednesday. The company’s fifty day simple moving average is $243.05 and its 200-day simple moving average is $228.22. ResMed Inc. has a 52 week low of $164.12 and a 52 week high of $260.49. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. The company has a market cap of $35.62 billion, a PE ratio of 32.14, a P/E/G ratio of 1.73 and a beta of 0.68.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.17. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The business’s revenue was up 11.1% on a year-over-year basis. During the same period last year, the business earned $1.64 EPS. As a group, equities research analysts anticipate that ResMed Inc. will post 9.34 EPS for the current year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 7th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend was Thursday, November 7th. ResMed’s payout ratio is 28.08%.

Insider Activity at ResMed

In other ResMed news, insider Kaushik Ghoshal sold 4,260 shares of the firm’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $238.48, for a total transaction of $1,015,924.80. Following the completion of the transaction, the insider now directly owns 21,788 shares of the company’s stock, valued at $5,196,002.24. This trade represents a 16.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Witte Jan De sold 796 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total transaction of $198,052.76. Following the transaction, the director now directly owns 6,723 shares of the company’s stock, valued at approximately $1,672,749.63. This represents a 10.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 47,725 shares of company stock valued at $11,253,448. Corporate insiders own 0.71% of the company’s stock.

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.