ResMed Inc. (NYSE:RMD) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC cut its position in ResMed Inc. (NYSE:RMD) by 8.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 65,205 shares of the medical equipment provider’s stock after selling 5,808 shares during the period. Nisa Investment Advisors LLC’s holdings in ResMed were worth $14,912,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Marshall Wace LLP purchased a new stake in shares of ResMed during the second quarter worth $77,285,000. Geode Capital Management LLC raised its holdings in ResMed by 10.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock valued at $939,114,000 after acquiring an additional 380,383 shares during the last quarter. Greenvale Capital LLP lifted its stake in ResMed by 61.1% in the 2nd quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock worth $138,780,000 after purchasing an additional 275,000 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of ResMed by 726.3% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,801 shares of the medical equipment provider’s stock worth $69,281,000 after purchasing an additional 249,454 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in shares of ResMed by 92.7% in the fourth quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider’s stock valued at $103,214,000 after purchasing an additional 215,561 shares in the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at ResMed

In related news, insider Justin Leong sold 6,160 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the completion of the transaction, the insider now directly owns 21,718 shares of the company’s stock, valued at $5,279,428.62. The trade was a 22.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Witte Jan De sold 796 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total value of $198,052.76. Following the completion of the sale, the director now directly owns 6,723 shares in the company, valued at $1,672,749.63. This represents a 10.59 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,099 shares of company stock worth $2,719,385. Corporate insiders own 0.71% of the company’s stock.

ResMed Trading Down 0.2 %

Shares of NYSE RMD opened at $247.36 on Thursday. 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 stock has a market capitalization of $36.31 billion, a PE ratio of 32.76, a PEG ratio of 1.73 and a beta of 0.70. ResMed Inc. has a twelve month low of $170.56 and a twelve month high of $260.49. The stock has a fifty day simple moving average of $238.35 and a 200-day simple moving average of $233.80.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the firm earned $1.64 earnings per share. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, equities analysts forecast that ResMed Inc. will post 9.34 earnings per share for the current year.

Analyst Ratings Changes

RMD has been the topic of a number of recent research reports. Robert W. Baird boosted their price objective on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Piper Sandler initiated coverage on shares of ResMed in a report on Friday, January 10th. They issued a “neutral” rating and a $252.00 price objective for the company. Bank of America lifted their target price 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. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research note on Friday, October 25th. Finally, The Goldman Sachs Group began coverage on shares of ResMed in a research report on Thursday, January 16th. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $233.09.

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.