Townsquare Capital LLC Reduces Stock Holdings in ResMed Inc. (NYSE:RMD)

Townsquare Capital LLC decreased its holdings in shares of ResMed Inc. (NYSE:RMD) by 3.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,021 shares of the medical equipment provider’s stock after selling 434 shares during the quarter. Townsquare Capital LLC’s holdings in ResMed were worth $2,978,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of RMD. Invesco Ltd. lifted its position in shares of ResMed by 32.2% during the fourth quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider’s stock worth $531,706,000 after purchasing an additional 566,046 shares in the last quarter. Norges Bank acquired a new stake in ResMed during the 4th quarter worth $118,605,000. Los Angeles Capital Management LLC lifted its holdings in shares of ResMed by 60.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 668,908 shares of the medical equipment provider’s stock valued at $152,973,000 after purchasing an additional 250,746 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in ResMed in the fourth quarter valued at approximately $50,364,000. Finally, Nordea Investment Management AB boosted its stake in ResMed by 92.7% during the 4th quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider’s stock worth $103,214,000 after purchasing an additional 215,561 shares during the period. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $236.77, for a total value of $1,896,290.93. Following the completion of the transaction, the chief executive officer now owns 455,472 shares in the company, valued at $107,842,105.44. This represents a 1.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total transaction of $484,220.00. Following the transaction, the director now owns 77,218 shares in the company, valued at $18,695,249.98. This represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,013 shares of company stock valued at $11,298,816. 0.71% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

RMD has been the topic of several analyst reports. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday. The Goldman Sachs Group started coverage on ResMed in a research note on Thursday, January 16th. They set a “buy” rating on the stock. Stifel Nicolaus dropped their target price on shares of ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a report on Wednesday, March 5th. KeyCorp raised their price target on ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, UBS Group raised shares of ResMed from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $249.73.

ResMed Stock Performance

Shares of RMD stock opened at $213.98 on Wednesday. ResMed Inc. has a 12 month low of $172.19 and a 12 month high of $263.05. The company’s fifty day moving average price is $224.63 and its two-hundred day moving average price is $235.07. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The firm has a market capitalization of $31.43 billion, a P/E ratio of 25.26, a P/E/G ratio of 1.53 and a beta of 0.75.

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

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is presently 25.03%.

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.