ResMed Inc. $RMD Shares Sold by BLI Banque de Luxembourg Investments

BLI Banque de Luxembourg Investments reduced its stake in ResMed Inc. (NYSE:RMD) by 13.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 215,489 shares of the medical equipment provider’s stock after selling 34,798 shares during the quarter. ResMed accounts for 1.5% of BLI Banque de Luxembourg Investments’ investment portfolio, making the stock its 16th largest position. BLI Banque de Luxembourg Investments’ holdings in ResMed were worth $52,390,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Jones Financial Companies Lllp increased its stake 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 buying an additional 994 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in ResMed during the 2nd quarter worth approximately $389,000. Brown Advisory Inc. increased its stake 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 buying an additional 240 shares during the period. Cresset Asset Management LLC purchased a new stake in ResMed during the 2nd quarter worth approximately $206,000. Finally, Alliancebernstein L.P. increased its stake 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 buying an additional 55,790 shares during the period. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Trading Down 1.4%

NYSE RMD opened at $193.35 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.01 and a quick ratio of 2.33. The firm’s fifty day moving average price is $212.53 and its 200 day moving average price is $236.78. The company has a market capitalization of $28.05 billion, a price-to-earnings ratio of 18.65, a price-to-earnings-growth ratio of 1.25 and a beta of 0.80. ResMed Inc. has a 12 month low of $180.26 and a 12 month high of $293.81.

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

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, May 14th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Thursday, May 14th. ResMed’s dividend payout ratio (DPR) is 23.14%.

Analyst Ratings Changes

Several brokerages recently weighed in on RMD. Royal Bank Of Canada upped their target price on shares of ResMed from $314.00 to $321.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. KeyCorp cut their target price on shares of ResMed from $302.00 to $290.00 and set an “overweight” rating on the stock in a research note on Monday, April 27th. Citigroup cut their target price on shares of ResMed from $345.00 to $340.00 and set a “buy” rating on the stock in a research note on Thursday, April 9th. Wall Street Zen downgraded shares of ResMed from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Finally, Wells Fargo & Company cut their target price on shares of ResMed from $270.00 to $227.00 and set an “equal weight” rating on the stock in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $286.18.

Insiders Place Their Bets

In related news, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $207.82, for a total value of $1,037,229.62. Following the transaction, the chief executive officer directly owned 466,223 shares of the company’s stock, valued at $96,890,463.86. This trade represents a 1.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total transaction of $450,000.00. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 11,982 shares of company stock worth $2,612,700 over the last ninety days. Insiders own 0.65% of the company’s stock.

ResMed Company 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.