ResMed Inc. (NYSE:RMD) Shares Sold by Pacer Advisors Inc.

by · The Cerbat Gem

Pacer Advisors Inc. lowered its stake in shares of ResMed Inc. (NYSE:RMD – Free Report) by 15.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,003 shares of the medical equipment provider’s stock after selling 6,689 shares during the period. Pacer Advisors Inc.’s holdings in ResMed were worth $8,507,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. LPL Financial LLC raised its position in shares of ResMed by 60.6% in the 4th quarter. LPL Financial LLC now owns 53,342 shares of the medical equipment provider’s stock worth $12,199,000 after buying an additional 20,135 shares during the period. NEOS Investment Management LLC increased its stake in ResMed by 25.8% during the fourth quarter. NEOS Investment Management LLC now owns 6,039 shares of the medical equipment provider’s stock worth $1,381,000 after acquiring an additional 1,238 shares during the last quarter. Norges Bank acquired a new stake in ResMed during the fourth quarter worth about $118,605,000. New Age Alpha Advisors LLC purchased a new position in shares of ResMed in the 4th quarter worth about $2,288,000. Finally, Nomura Asset Management Co. Ltd. lifted its stake in shares of ResMed by 0.8% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 43,244 shares of the medical equipment provider’s stock valued at $9,889,000 after purchasing an additional 335 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on RMD. Morgan Stanley set a $286.00 target price on shares of ResMed and gave the stock an “overweight” rating in a research report on Tuesday, May 20th. Mizuho increased their price objective on shares of ResMed from $250.00 to $270.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 16th. JPMorgan Chase & Co. raised their target price on shares of ResMed from $286.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. Piper Sandler decreased their price target on shares of ResMed from $260.00 to $248.00 and set a “neutral” rating for the company in a research report on Thursday, April 24th. Finally, UBS Group cut their price objective on ResMed from $290.00 to $285.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $263.00.

Check Out Our Latest Report on ResMed

ResMed Stock Performance

NYSE:RMD opened at $275.29 on Monday. The firm has a 50-day moving average of $253.70 and a two-hundred day moving average of $238.88. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.41 and a quick ratio of 2.49. The stock has a market cap of $40.37 billion, a P/E ratio of 30.90, a PEG ratio of 1.71 and a beta of 0.77. ResMed Inc. has a 1-year low of $196.43 and a 1-year high of $275.80.

Insider Activity at ResMed

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $256.72, for a total transaction of $2,056,070.48. Following the completion of the sale, the chief executive officer owned 455,503 shares in the company, valued at $116,936,730.16. This trade represents a 1.73% 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 Witte Jan De sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $243.47, for a total value of $486,940.00. Following the completion of the transaction, the director directly owned 5,806 shares in the company, valued at approximately $1,413,586.82. The trade was a 25.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,013 shares of company stock valued at $7,238,913. Insiders own 0.71% of the company’s stock.

ResMed Company Profile

(Free Report)

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.

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