Natixis Trims Stake in ResMed Inc. (NYSE:RMD)

Natixis reduced its stake in shares of ResMed Inc. (NYSE:RMD) by 17.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,055 shares of the medical equipment provider’s stock after selling 2,937 shares during the quarter. Natixis’ holdings in ResMed were worth $2,783,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Nordea Investment Management AB increased its position in shares of ResMed by 3.4% in the fourth quarter. Nordea Investment Management AB now owns 9,753 shares of the medical equipment provider’s stock valued at $1,682,000 after buying an additional 324 shares in the last quarter. HB Wealth Management LLC increased its position in shares of ResMed by 43.3% in the fourth quarter. HB Wealth Management LLC now owns 2,158 shares of the medical equipment provider’s stock valued at $371,000 after buying an additional 652 shares in the last quarter. Raymond James & Associates increased its position in shares of ResMed by 21.3% in the fourth quarter. Raymond James & Associates now owns 6,842 shares of the medical equipment provider’s stock valued at $1,177,000 after buying an additional 1,200 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of ResMed by 11.6% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 21,519 shares of the medical equipment provider’s stock valued at $3,702,000 after buying an additional 2,239 shares in the last quarter. Finally, Portside Wealth Group LLC increased its position in shares of ResMed by 8.8% in the fourth quarter. Portside Wealth Group LLC now owns 1,556 shares of the medical equipment provider’s stock valued at $268,000 after buying an additional 126 shares in the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RMD has been the topic of a number of recent research reports. Needham & Company LLC reissued a “buy” rating and set a $236.00 price objective on shares of ResMed in a research note on Monday, June 24th. KeyCorp lifted their price objective on shares of ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Oppenheimer lowered shares of ResMed from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. Citigroup lowered shares of ResMed from a “buy” rating to a “neutral” rating in a research report on Monday, June 24th. Finally, Royal Bank of Canada boosted their target price on shares of ResMed from $200.00 to $204.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $203.20.

ResMed Price Performance

RMD stock traded down $4.96 during trading on Friday, hitting $203.38. The stock had a trading volume of 70,541 shares, compared to its average volume of 1,039,718. The company’s 50 day moving average price is $204.57 and its two-hundred day moving average price is $194.82. ResMed Inc. has a 1-year low of $132.24 and a 1-year high of $229.97. The stock has a market cap of $29.88 billion, a price-to-earnings ratio of 32.01, a price-to-earnings-growth ratio of 1.78 and a beta of 0.66. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.97 and a current ratio of 3.04.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.22. ResMed had a net margin of 20.91% and a return on equity of 24.43%. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the company posted $1.68 EPS. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, sell-side analysts forecast that ResMed Inc. will post 7.7 EPS for the current fiscal year.

Insider Activity

In other news, Director Karen Drexler sold 425 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $214.92, for a total transaction of $91,341.00. Following the completion of the sale, the director now owns 8,446 shares in the company, valued at approximately $1,815,214.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ResMed news, Director Karen Drexler sold 425 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $214.92, for a total value of $91,341.00. Following the completion of the transaction, the director now owns 8,446 shares in the company, valued at approximately $1,815,214.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael J. Farrell sold 14,683 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $192.97, for a total value of $2,833,378.51. Following the completion of the transaction, the chief executive officer now owns 440,799 shares of the company’s stock, valued at approximately $85,060,983.03. The disclosure for this sale can be found here. Insiders sold a total of 46,834 shares of company stock valued at $9,694,137 in the last 90 days. 1.21% of the stock is currently owned by insiders.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.