Campbell & CO Investment Adviser LLC Sells 1,943 Shares of ResMed Inc. $RMD

Campbell & CO Investment Adviser LLC decreased its position in shares of ResMed Inc. (NYSE:RMD) by 60.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,246 shares of the medical equipment provider’s stock after selling 1,943 shares during the quarter. Campbell & CO Investment Adviser LLC’s holdings in ResMed were worth $321,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of ResMed by 85.1% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 124,245 shares of the medical equipment provider’s stock worth $32,055,000 after acquiring an additional 57,139 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of ResMed by 5.8% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 279,876 shares of the medical equipment provider’s stock valued at $72,208,000 after buying an additional 15,251 shares in the last quarter. Aviva PLC increased its stake in shares of ResMed by 23.4% during the 2nd quarter. Aviva PLC now owns 89,541 shares of the medical equipment provider’s stock worth $23,102,000 after purchasing an additional 16,985 shares during the last quarter. Penserra Capital Management LLC lifted its position in shares of ResMed by 6,500.0% in the second quarter. Penserra Capital Management LLC now owns 792 shares of the medical equipment provider’s stock valued at $204,000 after buying an additional 780 shares during the last quarter. Finally, Wedbush Securities Inc. boosted its position in ResMed by 12.0% during the second quarter. Wedbush Securities Inc. now owns 3,658 shares of the medical equipment provider’s stock worth $944,000 after purchasing an additional 391 shares during the period. 54.98% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Witte Jan De sold 487 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $250.25, for a total value of $121,871.75. Following the sale, the director directly owned 5,319 shares of the company’s stock, valued at $1,331,079.75. This trade represents a 8.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael J. Farrell sold 8,011 shares of ResMed stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $249.75, for a total value of $2,000,747.25. Following the completion of the transaction, the chief executive officer owned 467,866 shares in the company, valued at approximately $116,849,533.50. This represents a 1.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 18,607 shares of company stock valued at $4,919,501 over the last ninety days. Company insiders own 0.65% of the company’s stock.

ResMed Stock Down 2.9%

Shares of NYSE RMD opened at $244.74 on Monday. ResMed Inc. has a 52 week low of $199.92 and a 52 week high of $293.81. The stock’s fifty day moving average is $266.27 and its 200 day moving average is $263.16. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.53 and a current ratio of 3.44. The stock has a market capitalization of $35.72 billion, a P/E ratio of 25.73, a PEG ratio of 1.75 and a beta of 0.87.

ResMed (NYSE:RMD) last released its earnings results on Friday, October 31st. The medical equipment provider reported $2.55 EPS for the quarter, beating the consensus estimate of $2.49 by $0.06. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.33 billion. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period last year, the firm earned $2.20 EPS. Sell-side analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, November 13th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.0%. The ex-dividend date is Thursday, November 13th. ResMed’s payout ratio is currently 24.56%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. CLSA upgraded shares of ResMed from a “hold” rating to an “outperform” rating in a research note on Tuesday, September 2nd. Wells Fargo & Company began coverage on shares of ResMed in a research report on Monday, October 13th. They set an “equal weight” rating and a $280.00 price objective for the company. Piper Sandler upped their target price on ResMed from $248.00 to $270.00 and gave the company a “neutral” rating in a research report on Friday, August 1st. Royal Bank Of Canada increased their target price on ResMed from $300.00 to $303.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. Finally, Mizuho reduced their price target on ResMed from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, ResMed currently has a consensus rating of “Moderate Buy” and a consensus price target of $297.45.

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.