Bridgewater Associates LP Sells 6,626 Shares of ResMed Inc. (NYSE:RMD)

Bridgewater Associates LP lowered its stake in ResMed Inc. (NYSE:RMD) by 7.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 87,271 shares of the medical equipment provider’s stock after selling 6,626 shares during the period. Bridgewater Associates LP’s holdings in ResMed were worth $19,958,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. OFI Invest Asset Management acquired a new position in shares of ResMed in the 4th quarter valued at approximately $39,000. BankPlus Trust Department acquired a new position in ResMed during the 4th quarter worth approximately $44,000. Rosenberg Matthew Hamilton bought a new position in ResMed in the 4th quarter valued at approximately $54,000. SBI Securities Co. Ltd. bought a new stake in shares of ResMed during the fourth quarter worth $67,000. Finally, Kentucky Trust Co bought a new stake in shares of ResMed during the fourth quarter worth $82,000. Institutional investors own 54.98% of the company’s stock.

ResMed Stock Performance

Shares of ResMed stock opened at $213.98 on Wednesday. The business’s fifty day simple moving average is $224.63 and its 200 day simple moving average is $235.07. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 12 month low of $172.19 and a 12 month high of $263.05. The firm has a market capitalization of $31.43 billion, a P/E ratio of 25.26, a price-to-earnings-growth ratio of 1.53 and a beta of 0.75.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. As a group, analysts anticipate that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend was Thursday, February 13th. ResMed’s dividend payout ratio is currently 25.03%.

Insider Buying and Selling at ResMed

In other news, insider Kaushik Ghoshal sold 9,113 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $235.40, for a total value of $2,145,200.20. Following the sale, the insider now owns 9,725 shares of the company’s stock, valued at $2,289,265. The trade was a 48.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total transaction of $484,220.00. Following the completion of the transaction, the director now owns 77,218 shares of the company’s stock, valued at $18,695,249.98. This represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 49,013 shares of company stock worth $11,298,816 over the last ninety days. 0.71% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Morgan Stanley initiated coverage on ResMed in a research report on Wednesday, March 19th. They set an “overweight” rating and a $280.00 price objective on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research note on Friday, January 31st. UBS Group upgraded shares of ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Piper Sandler raised their price target on shares of ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Finally, The Goldman Sachs Group began coverage on ResMed in a report on Thursday, January 16th. They issued a “buy” rating for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $249.73.

ResMed Company Profile

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.