Gulf International Bank UK Ltd Sells 119 Shares of ResMed Inc. (NYSE:RMD)

Gulf International Bank UK Ltd cut its holdings in ResMed Inc. (NYSE:RMD) by 1.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 11,496 shares of the medical equipment provider’s stock after selling 119 shares during the period. Gulf International Bank UK Ltd’s holdings in ResMed were worth $2,629,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. True Wealth Design LLC raised its position in shares of 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 acquiring an additional 110 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of ResMed in the 3rd quarter worth about $34,000. BankPlus Trust Department bought a new position in shares of ResMed in the 4th quarter worth about $44,000. Rosenberg Matthew Hamilton bought a new position in shares of ResMed in the 4th quarter worth about $54,000. Finally, Capital Performance Advisors LLP bought a new position in shares of ResMed in the 3rd quarter worth about $60,000. 54.98% of the stock is owned by institutional investors.

Insider Transactions at ResMed

In other news, CEO Michael J. Farrell sold 8,009 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $236.77, for a total value of $1,896,290.93. Following the transaction, the chief executive officer now owns 455,472 shares in the company, valued at $107,842,105.44. The trade was a 1.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total value of $484,220.00. Following the completion of the transaction, the director now owns 77,218 shares in the company, valued at $18,695,249.98. The trade was a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,147 shares of company stock worth $2,905,745 in the last 90 days. Insiders own 0.71% of the company’s stock.

ResMed Stock Performance

Shares of RMD opened at $233.32 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. The stock has a 50 day moving average price of $237.06 and a two-hundred day moving average price of $239.69. The firm has a market capitalization of $34.27 billion, a P/E ratio of 27.55, a P/E/G ratio of 1.53 and a beta of 0.70. ResMed Inc. has a 52 week low of $170.56 and a 52 week high of $263.05.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. Equities analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be paid a $0.53 dividend. The ex-dividend date is Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.91%. ResMed’s payout ratio is presently 25.03%.

Analyst Ratings Changes

A number of brokerages recently commented on RMD. Piper Sandler boosted their target price on ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. boosted their target price on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Stifel Nicolaus began coverage on ResMed in a research report on Friday, December 13th. They issued a “hold” rating and a $250.00 target price for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research report on Friday, January 31st. Finally, The Goldman Sachs Group began coverage on ResMed in a research report on Thursday, January 16th. They issued a “buy” rating for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $244.73.

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.