American Century Companies Inc. Sells 94,015 Shares of ResMed Inc. $RMD

American Century Companies Inc. cut its stake in shares of ResMed Inc. (NYSE:RMD) by 53.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 81,886 shares of the medical equipment provider’s stock after selling 94,015 shares during the period. American Century Companies Inc. owned 0.06% of ResMed worth $22,415,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rafferty Asset Management LLC increased its stake in shares of ResMed by 4.9% during the third quarter. Rafferty Asset Management LLC now owns 16,249 shares of the medical equipment provider’s stock worth $4,448,000 after purchasing an additional 758 shares during the period. Caitlin John LLC grew its holdings in ResMed by 1.4% in the 3rd quarter. Caitlin John LLC now owns 5,695 shares of the medical equipment provider’s stock valued at $1,559,000 after buying an additional 79 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in ResMed during the 3rd quarter worth $616,000. Generali Investments Management Co LLC bought a new position in ResMed during the 3rd quarter worth $358,000. Finally, DNB Asset Management AS lifted its holdings in shares of ResMed by 3.5% during the third quarter. DNB Asset Management AS now owns 28,576 shares of the medical equipment provider’s stock worth $7,822,000 after buying an additional 959 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on RMD shares. Citigroup boosted their target price on shares of ResMed from $330.00 to $345.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Royal Bank Of Canada lifted their price objective on shares of ResMed from $311.00 to $314.00 and gave the stock an “outperform” rating in a research note on Friday, January 30th. KeyCorp restated an “overweight” rating and set a $302.00 target price on shares of ResMed in a research report on Friday, January 30th. UBS Group reaffirmed a “buy” rating and set a $345.00 target price on shares of ResMed in a report on Friday, December 12th. Finally, Weiss Ratings upgraded ResMed from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, ResMed currently has a consensus rating of “Moderate Buy” and a consensus price target of $299.27.

ResMed Price Performance

Shares of NYSE:RMD opened at $253.03 on Tuesday. The firm has a 50 day moving average of $255.43 and a 200-day moving average of $259.58. ResMed Inc. has a 12 month low of $199.92 and a 12 month high of $293.81. The company has a current ratio of 3.06, a quick ratio of 2.32 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $36.86 billion, a PE ratio of 25.03, a PEG ratio of 1.68 and a beta of 0.88.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, January 29th. The medical equipment provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.13. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the business posted $2.43 EPS. On average, equities research analysts predict that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Thursday, February 12th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, February 12th. ResMed’s dividend payout ratio (DPR) is currently 23.74%.

Insiders Place Their Bets

In related news, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $273.78, for a total transaction of $1,366,435.98. Following the completion of the sale, the chief executive officer directly owned 466,223 shares in the company, valued at $127,642,532.94. This represents a 1.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $260.22, for a total value of $520,440.00. Following the completion of the sale, the director directly owned 62,773 shares in the company, valued at $16,334,790.06. This trade represents a 3.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 16,082 shares of company stock worth $4,152,307. Company insiders own 0.65% of the company’s stock.

ResMed Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.