Voya Investment Management LLC Sells 19,792 Shares of ResMed Inc. $RMD

Voya Investment Management LLC decreased its stake in ResMed Inc. (NYSE:RMD) by 37.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 32,766 shares of the medical equipment provider’s stock after selling 19,792 shares during the quarter. Voya Investment Management LLC’s holdings in ResMed were worth $8,969,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new position in shares of ResMed during the second quarter worth $306,452,000. Swedbank AB grew its position in ResMed by 445.1% during the 1st quarter. Swedbank AB now owns 397,319 shares of the medical equipment provider’s stock worth $88,940,000 after acquiring an additional 324,428 shares during the last quarter. Vanguard Group Inc. increased its holdings in ResMed by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 18,746,925 shares of the medical equipment provider’s stock worth $4,836,707,000 after purchasing an additional 253,223 shares in the last quarter. Ilex Capital Partners UK LLP bought a new position in ResMed in the second quarter valued at about $39,306,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in ResMed in the second quarter valued at about $34,443,000. Institutional investors own 54.98% of the company’s stock.

Insider Activity at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $251.47, for a total value of $502,940.00. Following the completion of the sale, the director directly owned 68,773 shares in the company, valued at $17,294,346.31. This trade represents a 2.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Michael J. Rider sold 100 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $274.36, for a total value of $27,436.00. Following the transaction, the general counsel directly owned 11,327 shares in the company, valued at approximately $3,107,675.72. This trade represents a 0.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 22,662 shares of company stock worth $5,946,466 over the last quarter. Company insiders own 0.65% of the company’s stock.

ResMed Stock Down 0.9%

Shares of ResMed stock opened at $244.40 on Wednesday. The stock’s 50-day moving average is $252.76 and its 200 day moving average is $263.87. ResMed Inc. has a one year low of $199.92 and a one year high of $293.81. The firm has a market cap of $35.67 billion, a price-to-earnings ratio of 25.01, a PEG ratio of 1.66 and a beta of 0.87. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.89 and a quick ratio of 2.13.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.06. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.33 billion. ResMed had a return on equity of 25.45% and a net margin of 27.35%.The company’s revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.20 earnings per share. Equities research analysts anticipate that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, November 13th were issued a dividend of $0.60 per share. The ex-dividend date was Thursday, November 13th. This represents a $2.40 annualized dividend and a dividend yield of 1.0%. ResMed’s dividend payout ratio is currently 24.56%.

Analyst Ratings Changes

Several analysts have recently weighed in on RMD shares. Citigroup assumed coverage on ResMed in a report on Thursday, September 18th. They set a “buy” rating and a $330.00 price target on the stock. Royal Bank Of Canada boosted their target price on shares of ResMed from $300.00 to $303.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Robert W. Baird reaffirmed a “neutral” rating and set a $275.00 price target (down previously from $300.00) on shares of ResMed in a research note on Tuesday, December 16th. Morgan Stanley set a $305.00 price target on shares of ResMed in a report on Friday, October 31st. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of ResMed in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $296.09.

ResMed Company Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.