B. Metzler seel. Sohn & Co. AG Trims Holdings in ResMed Inc. (NYSE:RMD)

B. Metzler seel. Sohn & Co. AG lowered its holdings in ResMed Inc. (NYSE:RMD) by 2.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 6,830 shares of the medical equipment provider’s stock after selling 195 shares during the quarter. B. Metzler seel. Sohn & Co. AG’s holdings in ResMed were worth $1,562,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Mawer Investment Management Ltd. lifted its stake in ResMed by 14.2% in the fourth quarter. Mawer Investment Management Ltd. now owns 87,443 shares of the medical equipment provider’s stock worth $19,997,000 after acquiring an additional 10,889 shares during the period. Schroder Investment Management Group raised its holdings in ResMed by 59.0% in the 4th quarter. Schroder Investment Management Group now owns 94,088 shares of the medical equipment provider’s stock worth $21,593,000 after purchasing an additional 34,924 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of ResMed by 9.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 216,127 shares of the medical equipment provider’s stock worth $49,426,000 after purchasing an additional 17,951 shares during the period. Allianz SE bought a new stake in shares of ResMed during the 4th quarter valued at about $373,000. Finally, Intrust Bank NA increased its position in shares of ResMed by 2.3% during the fourth quarter. Intrust Bank NA now owns 5,500 shares of the medical equipment provider’s stock valued at $1,258,000 after buying an additional 122 shares during the period. 54.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

RMD has been the subject of several research analyst reports. Needham & Company LLC restated a “hold” rating on shares of ResMed in a report on Friday, January 31st. The Goldman Sachs Group began coverage on ResMed in a research note on Thursday, January 16th. They issued a “buy” rating for the company. Piper Sandler upped their price target on ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Morgan Stanley assumed coverage on ResMed in a research report on Wednesday, March 19th. They set an “overweight” rating and a $280.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their target price on shares of ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $249.73.

ResMed Trading Up 0.2 %

Shares of NYSE RMD opened at $222.78 on Thursday. The firm’s 50 day moving average price is $232.37 and its 200-day moving average price is $237.54. ResMed Inc. has a 52-week low of $172.19 and a 52-week high of $263.05. 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 company has a market cap of $32.72 billion, a PE ratio of 26.30, a P/E/G ratio of 1.53 and a beta of 0.74.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. On average, equities research analysts expect that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 13th were issued a $0.53 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 0.95%. ResMed’s payout ratio is 25.03%.

Insiders Place Their Bets

In related news, insider Kaushik Ghoshal sold 9,113 shares of the firm’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 in the company, valued at approximately $2,289,265. This trade represents a 48.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $227.71, for a total transaction of $455,420.00. Following the sale, the director now owns 75,218 shares of the company’s stock, valued at approximately $17,127,890.78. This represents a 2.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,940 shares of company stock valued at $9,164,385. 0.71% of the stock is owned by insiders.

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.