Nisa Investment Advisors LLC Sells 5,808 Shares of ResMed Inc. (NYSE:RMD)

Nisa Investment Advisors LLC reduced its stake in shares of ResMed Inc. (NYSE:RMD) by 8.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,205 shares of the medical equipment provider’s stock after selling 5,808 shares during the quarter. Nisa Investment Advisors LLC’s holdings in ResMed were worth $14,912,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. American Century Companies Inc. grew its position in shares of ResMed by 17.7% in the 2nd quarter. American Century Companies Inc. now owns 30,874 shares of the medical equipment provider’s stock worth $5,910,000 after buying an additional 4,639 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of ResMed by 139.6% during the second quarter. Pacer Advisors Inc. now owns 23,864 shares of the medical equipment provider’s stock worth $4,568,000 after purchasing an additional 13,903 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of ResMed by 68.1% during the 2nd quarter. Sei Investments Co. now owns 36,501 shares of the medical equipment provider’s stock valued at $6,987,000 after purchasing an additional 14,793 shares during the last quarter. ProShare Advisors LLC boosted its position in shares of ResMed by 6.1% in the 2nd quarter. ProShare Advisors LLC now owns 26,622 shares of the medical equipment provider’s stock worth $5,096,000 after purchasing an additional 1,522 shares in the last quarter. Finally, Frank Rimerman Advisors LLC purchased a new position in ResMed during the 2nd quarter worth $259,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Insiders Place Their Bets

In other news, Director Witte Jan De sold 796 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was 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. The trade was a 10.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Justin Leong sold 6,160 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $243.09, for a total value of $1,497,434.40. Following the transaction, the insider now directly owns 21,718 shares of the company’s stock, valued at approximately $5,279,428.62. The trade was a 22.10 % decrease in their ownership of the stock. 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. Company insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on RMD. Robert W. Baird increased their price target on ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Piper Sandler assumed coverage on shares of ResMed in a research report on Friday, January 10th. They set a “neutral” rating and a $252.00 target price on the stock. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. The Goldman Sachs Group assumed coverage on ResMed in a research report on Thursday, January 16th. They issued a “buy” rating on the stock. Finally, Bank of America lifted their price target on ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, ResMed presently has an average rating of “Hold” and an average price target of $233.09.

ResMed Stock Down 0.2 %

Shares of RMD stock opened at $247.36 on Thursday. ResMed Inc. has a twelve month low of $170.56 and a twelve month high of $260.49. The stock has a market cap of $36.31 billion, a P/E ratio of 32.76, a P/E/G ratio of 1.73 and a beta of 0.70. The stock has a 50 day moving average of $238.35 and a 200 day moving average of $233.80. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.17. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The business’s revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.64 EPS. As a group, sell-side analysts expect that ResMed Inc. will post 9.34 EPS for the current year.

ResMed 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.