Baader Bank Aktiengesellschaft Reduces Position in ResMed Inc. $RMD

Baader Bank Aktiengesellschaft decreased its stake in shares of ResMed Inc. (NYSE:RMD) by 61.7% during the first quarter, HoldingsChannel reports. The firm owned 4,768 shares of the medical equipment provider’s stock after selling 7,696 shares during the quarter. Baader Bank Aktiengesellschaft’s holdings in ResMed were worth $1,045,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. State Street Corp raised its stake in shares of ResMed by 1.2% in the fourth quarter. State Street Corp now owns 6,625,408 shares of the medical equipment provider’s stock worth $1,595,862,000 after purchasing an additional 76,244 shares during the last quarter. Bank of New York Mellon Corp boosted its position in ResMed by 0.7% in the first quarter. Bank of New York Mellon Corp now owns 4,925,386 shares of the medical equipment provider’s stock valued at $1,105,651,000 after buying an additional 34,732 shares during the last quarter. Geode Capital Management LLC boosted its position in ResMed by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 4,302,906 shares of the medical equipment provider’s stock valued at $1,032,877,000 after buying an additional 51,218 shares during the last quarter. Morgan Stanley increased its holdings in ResMed by 25.0% in the 4th quarter. Morgan Stanley now owns 2,891,697 shares of the medical equipment provider’s stock worth $696,523,000 after buying an additional 578,559 shares during the period. Finally, Northern Trust Corp raised its position in ResMed by 5.2% during the 4th quarter. Northern Trust Corp now owns 1,785,384 shares of the medical equipment provider’s stock worth $430,045,000 after buying an additional 87,502 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Stock Down 0.2%

RMD opened at $198.55 on Tuesday. ResMed Inc. has a fifty-two week low of $180.26 and a fifty-two week high of $293.81. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.33 and a current ratio of 3.01. The company has a fifty day moving average of $199.39 and a two-hundred day moving average of $226.21. The stock has a market capitalization of $28.80 billion, a price-to-earnings ratio of 19.15, a PEG ratio of 1.19 and a beta of 0.78.

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, topping 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 during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the prior year, the firm posted $2.37 earnings per share. The company’s revenue was up 10.8% compared to the same quarter last year. On average, research analysts expect that ResMed Inc. will post 11.13 earnings per share for the current year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, May 14th were issued a $0.60 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $2.40 dividend on an annualized basis and a yield of 1.2%. ResMed’s dividend payout ratio is presently 23.14%.

Wall Street Analysts Forecast Growth

Several analysts have commented on RMD shares. Royal Bank Of Canada cut shares of ResMed from an “outperform” rating to a “sector perform” rating and set a $234.00 price objective for the company. in a research note on Thursday. JPMorgan Chase & Co. started coverage on shares of ResMed in a research note on Wednesday, April 15th. They issued an “overweight” rating on the stock. Mizuho reduced their target price on shares of ResMed from $235.00 to $220.00 and set an “outperform” rating for the company in a report on Wednesday, July 15th. The Goldman Sachs Group reissued a “buy” rating on shares of ResMed in a report on Wednesday, July 1st. Finally, Wells Fargo & Company decreased their target price on shares of ResMed from $227.00 to $225.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $250.00.

Insiders Place Their Bets

In other ResMed news, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $218.55, for a total transaction of $1,090,783.05. Following the transaction, the chief executive officer owned 466,223 shares in the company, valued at approximately $101,893,036.65. This represents a 1.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 14,973 shares of company stock valued at $3,096,067. Corporate insiders own 0.65% of the company’s stock.

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.