ResMed Inc. $RMD Shares Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets raised its position in ResMed Inc. (NYSE:RMD) by 81.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 283,827 shares of the medical equipment provider’s stock after acquiring an additional 127,139 shares during the quarter. BNP Paribas Financial Markets owned 0.19% of ResMed worth $68,365,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Terra Nova Asset Management LLC grew its position in shares of ResMed by 0.6% during the third quarter. Terra Nova Asset Management LLC now owns 7,805 shares of the medical equipment provider’s stock worth $2,136,000 after buying an additional 46 shares in the last quarter. IMA Advisory Services Inc. grew its position in shares of ResMed by 52.7% during the third quarter. IMA Advisory Services Inc. now owns 139 shares of the medical equipment provider’s stock worth $38,000 after buying an additional 48 shares in the last quarter. Occidental Asset Management LLC lifted its stake in ResMed by 3.0% during the fourth quarter. Occidental Asset Management LLC now owns 1,699 shares of the medical equipment provider’s stock worth $409,000 after purchasing an additional 49 shares during the last quarter. Wedmont Private Capital lifted its stake in ResMed by 2.7% during the fourth quarter. Wedmont Private Capital now owns 2,183 shares of the medical equipment provider’s stock worth $542,000 after purchasing an additional 57 shares during the last quarter. Finally, New Wave Wealth Advisors LLC lifted its stake in ResMed by 3.0% during the fourth quarter. New Wave Wealth Advisors LLC now owns 1,956 shares of the medical equipment provider’s stock worth $471,000 after purchasing an additional 57 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Price Performance

Shares of NYSE RMD opened at $186.58 on Tuesday. ResMed Inc. has a fifty-two week low of $184.59 and a fifty-two week high of $293.81. The firm’s 50-day simple moving average is $216.11 and its 200 day simple moving average is $238.80. The company has a quick ratio of 2.33, a current ratio of 3.01 and a debt-to-equity ratio of 0.06. The stock has a market cap of $27.07 billion, a P/E ratio of 17.99, a P/E/G ratio of 1.21 and a beta of 0.80.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.07. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the previous year, the business earned $2.37 earnings per share. The company’s revenue was up 10.8% on a year-over-year basis. Equities analysts expect that ResMed Inc. will post 11.13 EPS for the current year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, May 14th will be given a $0.60 dividend. The ex-dividend date is Thursday, May 14th. This represents a $2.40 annualized dividend and a yield of 1.3%. ResMed’s payout ratio is 23.14%.

Analyst Ratings Changes

Several research firms have recently commented on RMD. Royal Bank Of Canada lifted their price target on shares of ResMed from $314.00 to $321.00 and gave the company an “outperform” rating in a report on Friday, May 1st. Robert W. Baird set a $225.00 price target on shares of ResMed in a report on Friday, May 1st. KeyCorp decreased their price target on shares of ResMed from $302.00 to $290.00 and set an “overweight” rating for the company in a report on Monday, April 27th. JPMorgan Chase & Co. initiated coverage on shares of ResMed in a report on Wednesday, April 15th. They issued an “overweight” rating for the company. Finally, Wells Fargo & Company decreased their price target on shares of ResMed from $270.00 to $227.00 and set an “equal weight” rating for the company in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, ResMed presently has an average rating of “Moderate Buy” and an average price target of $286.18.

Insider Activity

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total value of $450,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $207.82, for a total transaction of $1,037,229.62. Following the completion of the sale, the chief executive officer owned 466,223 shares in the company, valued at approximately $96,890,463.86. This trade represents a 1.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 18,973 shares of company stock worth $4,386,031. 0.65% of the stock is owned by company insiders.

About ResMed

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.