KBC Group NV Decreases Stock Position in ResMed Inc. (NYSE:RMD)

KBC Group NV cut its stake in ResMed Inc. (NYSE:RMD) by 10.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 147,729 shares of the medical equipment provider’s stock after selling 17,807 shares during the period. KBC Group NV’s holdings in ResMed were worth $38,934,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. MUFG Americas Holdings Corp purchased a new stake in ResMed during the 3rd quarter worth about $26,000. JJJ Advisors Inc. lifted its holdings in ResMed by 32.9% during the 3rd quarter. JJJ Advisors Inc. now owns 194 shares of the medical equipment provider’s stock worth $51,000 after buying an additional 48 shares during the last quarter. Allworth Financial LP lifted its holdings in ResMed by 18.8% during the 3rd quarter. Allworth Financial LP now owns 297 shares of the medical equipment provider’s stock worth $78,000 after buying an additional 47 shares during the last quarter. PFG Private Wealth Management LLC purchased a new stake in ResMed during the 3rd quarter worth about $90,000. Finally, Koshinski Asset Management Inc. purchased a new stake in ResMed during the 3rd quarter worth about $91,000. Hedge funds and other institutional investors own 65.12% of the company’s stock.

In related news, insider James Hollingshead sold 2,400 shares of the company’s stock in a transaction that occurred on Monday, November 1st. The stock was sold at an average price of $264.35, for a total value of $634,440.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Brett Sandercock sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 10th. The shares were sold at an average price of $260.58, for a total value of $651,450.00. The disclosure for this sale can be found here. Insiders have sold a total of 39,691 shares of company stock worth $10,330,553 in the last three months. Corporate insiders own 1.42% of the company’s stock.

Shares of RMD stock opened at $252.16 on Friday. The stock has a market capitalization of $36.74 billion, a PE ratio of 73.95, a price-to-earnings-growth ratio of 2.54 and a beta of 0.30. ResMed Inc. has a 52-week low of $179.37 and a 52-week high of $301.34. The stock’s 50-day moving average price is $256.23 and its 200 day moving average price is $264.73. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.26.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, October 28th. The medical equipment provider reported $1.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.16. ResMed had a return on equity of 28.46% and a net margin of 14.92%. The firm had revenue of $904.00 million for the quarter, compared to analysts’ expectations of $858.20 million. During the same quarter in the previous year, the firm posted $1.27 EPS. The firm’s revenue for the quarter was up 20.2% on a year-over-year basis. Analysts expect that ResMed Inc. will post 6.26 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 16th. Shareholders of record on Thursday, November 11th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend was Tuesday, November 9th. ResMed’s payout ratio is 49.27%.

A number of analysts have recently commented on RMD shares. Robert W. Baird upgraded ResMed from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $270.00 to $300.00 in a research report on Thursday. CLSA upgraded ResMed from an “underperform” rating to an “outperform” rating in a research report on Friday, October 22nd. Royal Bank of Canada lifted their target price on ResMed from $227.00 to $234.00 and gave the stock an “underperform” rating in a research report on Thursday. Finally, Macquarie upgraded ResMed from a “neutral” rating to an “outperform” rating in a research report on Monday, December 6th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $260.50.

ResMed Profile

ResMed, Inc engages in providing digital health and cloud-connected medical devices. Its digital health technologies and cloud-connected medical devices transform care for people with sleep apnea, chronic obstructive pulmonary disease, or COPD, and other chronic diseases. The firm operates through the following segments: Sleep and Respiratory Care, and Software as a Service.

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Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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