Fifth Third Bancorp Sells 583 Shares of ResMed Inc. (NYSE:RMD)

Fifth Third Bancorp trimmed its position in ResMed Inc. (NYSE:RMD) by 5.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 10,342 shares of the medical equipment provider’s stock after selling 583 shares during the period. Fifth Third Bancorp’s holdings in ResMed were worth $2,365,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of RMD. UMB Bank n.a. lifted its position in ResMed by 1.9% during the 3rd quarter. UMB Bank n.a. now owns 2,465 shares of the medical equipment provider’s stock worth $602,000 after acquiring an additional 47 shares during the last quarter. Ascent Group LLC increased its stake in shares of ResMed by 1.7% in the third quarter. Ascent Group LLC now owns 2,924 shares of the medical equipment provider’s stock worth $714,000 after purchasing an additional 48 shares during the period. SkyView Investment Advisors LLC lifted its position in shares of ResMed by 2.0% during the 3rd quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider’s stock worth $637,000 after purchasing an additional 51 shares during the last quarter. Wedmont Private Capital boosted its stake in ResMed by 2.6% during the 4th quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider’s stock valued at $475,000 after purchasing an additional 52 shares during the period. Finally, Concurrent Investment Advisors LLC grew its holdings in ResMed by 3.1% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 1,919 shares of the medical equipment provider’s stock valued at $469,000 after buying an additional 57 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Stock Performance

Shares of NYSE:RMD opened at $254.95 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. The business’s fifty day moving average price is $239.25 and its two-hundred day moving average price is $235.01. ResMed Inc. has a fifty-two week low of $170.56 and a fifty-two week high of $260.49. The stock has a market capitalization of $37.43 billion, a price-to-earnings ratio of 33.77, a price-to-earnings-growth ratio of 1.78 and a beta of 0.70.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on RMD shares. Robert W. Baird increased their price objective on ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Stifel Nicolaus started coverage on shares of ResMed in a research report on Friday, December 13th. They issued a “hold” rating and a $250.00 price target on the stock. Royal Bank of Canada upped their price objective on shares of ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Piper Sandler initiated 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, Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $238.40.

Insider Transactions at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total value of $491,300.00. Following the transaction, the director now directly owns 81,218 shares in the company, valued at $19,951,201.70. The trade was a 2.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 sale, the director now directly owns 6,723 shares of the company’s stock, valued at approximately $1,672,749.63. The trade was a 10.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,099 shares of company stock valued at $2,719,385. 0.71% of the stock is owned by insiders.

ResMed Company 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.