BDF Gestion Trims Stock Holdings in ResMed Inc. (NYSE:RMD)

BDF Gestion reduced its stake in ResMed Inc. (NYSE:RMD) by 11.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,791 shares of the medical equipment provider’s stock after selling 1,532 shares during the quarter. BDF Gestion’s holdings in ResMed were worth $2,696,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in RMD. True Wealth Design LLC lifted its position in shares of ResMed by 2,200.0% in the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 110 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of ResMed in the third quarter valued at $34,000. Rosenberg Matthew Hamilton purchased a new stake in shares of ResMed in the fourth quarter valued at $54,000. Capital Performance Advisors LLP purchased a new stake in shares of ResMed in the third quarter valued at $60,000. Finally, Quarry LP lifted its position in ResMed by 271.9% during the second quarter. Quarry LP now owns 331 shares of the medical equipment provider’s stock worth $63,000 after buying an additional 242 shares during the period. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

ResMed Price Performance

RMD stock opened at $253.16 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92. ResMed Inc. has a 1 year low of $170.56 and a 1 year high of $260.49. The firm has a market cap of $37.16 billion, a P/E ratio of 33.53, a price-to-earnings-growth ratio of 1.78 and a beta of 0.70. The stock has a 50-day simple moving average of $239.80 and a 200-day simple moving average of $235.71.

Insider Activity

In other ResMed news, Director Witte Jan De sold 796 shares of the firm’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 transaction of $198,052.76. Following the completion of the sale, the director now owns 6,723 shares in the company, valued at $1,672,749.63. This trade represents a 10.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total value of $491,300.00. Following the sale, the director now owns 81,218 shares of the company’s stock, valued at approximately $19,951,201.70. This trade represents a 2.40 % decrease in their position. 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. 0.71% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently weighed in on RMD. Robert W. Baird increased their target price on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research report on Friday, October 25th. Piper Sandler began coverage on ResMed in a research report on Friday, January 10th. They set a “neutral” rating and a $252.00 target price on the stock. Finally, Royal Bank of Canada increased their target price on ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $238.40.

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.