Harel Insurance Investments & Financial Services Ltd. Sells 13,480 Shares of ResMed Inc. (NYSE:RMD)

Harel Insurance Investments & Financial Services Ltd. lowered its stake in shares of ResMed Inc. (NYSE:RMD) by 98.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 204 shares of the medical equipment provider’s stock after selling 13,480 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in ResMed were worth $47,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its holdings in ResMed by 10.9% during the third quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock worth $939,114,000 after purchasing an additional 380,383 shares during the last quarter. Greenvale Capital LLP boosted its stake in shares of ResMed by 61.1% in the 2nd quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock worth $138,780,000 after buying an additional 275,000 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of ResMed by 726.3% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,801 shares of the medical equipment provider’s stock worth $69,281,000 after buying an additional 249,454 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of ResMed by 92.7% in the fourth quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider’s stock valued at $103,214,000 after acquiring an additional 215,561 shares in the last quarter. Finally, State Street Corp increased its position in shares of ResMed by 1.9% during the third quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider’s stock valued at $1,528,590,000 after acquiring an additional 116,918 shares during the last quarter. 54.98% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $245.65, for a total transaction of $491,300.00. Following the completion of the sale, the director now owns 81,218 shares in the company, valued at approximately $19,951,201.70. This trade represents a 2.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Witte Jan De sold 796 shares of the company’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 transaction, the director now owns 6,723 shares in the company, valued at approximately $1,672,749.63. This trade represents a 10.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,099 shares of company stock worth $2,719,385 in the last three months. 0.71% of the stock is currently owned by corporate insiders.

ResMed Stock Performance

Shares of RMD opened at $250.32 on Monday. ResMed Inc. has a 52-week low of $170.56 and a 52-week high of $260.49. The stock’s 50-day simple moving average is $239.25 and its 200 day simple moving average is $234.71. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92. The stock has a market capitalization of $36.75 billion, a price-to-earnings ratio of 33.15, a price-to-earnings-growth ratio of 1.78 and a beta of 0.70.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.17. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. ResMed’s revenue was up 11.1% compared to the same quarter last year. During the same period last year, the business earned $1.64 earnings per share. Research analysts forecast that ResMed Inc. will post 9.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Robert W. Baird boosted their price objective on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Piper Sandler initiated coverage on shares of ResMed in a report on Friday, January 10th. They issued a “neutral” rating and a $252.00 price target on the stock. KeyCorp raised their price objective on shares of ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. The Goldman Sachs Group started coverage on shares of ResMed in a research note on Thursday, January 16th. They issued a “buy” rating on the stock. Finally, Royal Bank of Canada raised their price target on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $238.40.

About ResMed

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.