BI Asset Management Fondsmaeglerselskab A S Lowers Stake in ResMed Inc. $RMD

BI Asset Management Fondsmaeglerselskab A S reduced its stake in shares of ResMed Inc. (NYSE:RMD) by 14.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,362 shares of the medical equipment provider’s stock after selling 10,686 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in ResMed were worth $15,021,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in RMD. Jones Financial Companies Lllp grew its holdings in ResMed by 52.6% during the 1st quarter. Jones Financial Companies Lllp now owns 2,882 shares of the medical equipment provider’s stock worth $645,000 after acquiring an additional 994 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in ResMed during the 2nd quarter worth about $389,000. Brown Advisory Inc. grew its holdings in ResMed by 17.8% during the 2nd quarter. Brown Advisory Inc. now owns 1,586 shares of the medical equipment provider’s stock worth $409,000 after acquiring an additional 240 shares in the last quarter. Cresset Asset Management LLC bought a new position in ResMed during the 2nd quarter worth about $206,000. Finally, Alliancebernstein L.P. grew its holdings in ResMed by 24.2% during the 2nd quarter. Alliancebernstein L.P. now owns 286,078 shares of the medical equipment provider’s stock worth $73,808,000 after acquiring an additional 55,790 shares in the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

ResMed Stock Performance

RMD opened at $195.95 on Friday. ResMed Inc. has a 52-week low of $180.26 and a 52-week high of $293.81. 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 firm’s fifty day simple moving average is $213.11 and its two-hundred day simple moving average is $237.21. The company has a market cap of $28.42 billion, a price-to-earnings ratio of 18.90, a PEG ratio of 1.25 and a beta of 0.80.

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

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, May 14th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Thursday, May 14th. ResMed’s payout ratio is 23.14%.

Analyst Upgrades and Downgrades

Several analysts have commented on RMD shares. Weiss Ratings lowered shares of ResMed from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 22nd. Royal Bank Of Canada increased their price target on shares of ResMed from $314.00 to $321.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Wall Street Zen lowered shares of ResMed from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. 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 research report on Monday, April 27th. Finally, Evercore set a $255.00 price target on shares of ResMed and gave the company an “outperform” rating in a research report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, ResMed presently has a consensus rating of “Moderate Buy” and a consensus target price of $286.18.

Insider Buying and Selling at ResMed

In other ResMed news, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $207.82, for a total transaction of $1,037,229.62. Following the sale, the chief executive officer owned 466,223 shares of the company’s stock, valued at $96,890,463.86. The trade was a 1.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $225.00, for a total transaction of $450,000.00. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 16,973 shares of company stock worth $3,865,591. 0.65% of the stock is currently owned by corporate insiders.

ResMed Profile

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.