Baader Bank Aktiengesellschaft Sells 8,794 Shares of ResMed Inc. $RMD

Baader Bank Aktiengesellschaft reduced its stake in shares of ResMed Inc. (NYSE:RMD) by 45.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,417 shares of the medical equipment provider’s stock after selling 8,794 shares during the quarter. Baader Bank Aktiengesellschaft’s holdings in ResMed were worth $2,822,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of ResMed by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 18,746,925 shares of the medical equipment provider’s stock valued at $4,836,707,000 after purchasing an additional 253,223 shares in the last quarter. State Street Corp lifted its holdings in ResMed by 1.0% in the second quarter. State Street Corp now owns 6,615,852 shares of the medical equipment provider’s stock worth $1,706,890,000 after buying an additional 64,448 shares during the period. Geode Capital Management LLC boosted its position in ResMed by 2.4% during the 2nd quarter. Geode Capital Management LLC now owns 4,215,145 shares of the medical equipment provider’s stock valued at $1,083,409,000 after acquiring an additional 98,717 shares in the last quarter. Norges Bank purchased a new position in shares of ResMed during the 2nd quarter worth approximately $306,452,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of ResMed by 2.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,021,001 shares of the medical equipment provider’s stock worth $263,418,000 after acquiring an additional 22,873 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors.

ResMed Stock Performance

Shares of ResMed stock opened at $263.21 on Wednesday. The stock has a market cap of $38.34 billion, a price-to-earnings ratio of 26.03, a PEG ratio of 1.83 and a beta of 0.87. The firm’s 50-day moving average is $252.58 and its 200 day moving average is $263.24. ResMed Inc. has a 1 year low of $199.92 and a 1 year high of $293.81. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.06 and a quick ratio of 2.32.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, January 29th. The medical equipment provider reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.13. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. ResMed had a net margin of 27.53% and a return on equity of 25.20%. ResMed’s revenue was up 11.0% compared to the same quarter last year. During the same period last year, the business earned $2.43 EPS. Sell-side analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Thursday, February 12th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Thursday, February 12th. ResMed’s payout ratio is presently 23.74%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on RMD shares. Wall Street Zen upgraded ResMed from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings upgraded shares of ResMed from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Morgan Stanley set a $305.00 target price on shares of ResMed in a research report on Friday, October 31st. Citigroup lifted their price target on shares of ResMed from $330.00 to $345.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Finally, Stifel Nicolaus boosted their price objective on shares of ResMed from $260.00 to $265.00 and gave the stock a “hold” rating in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, ResMed currently has an average rating of “Moderate Buy” and a consensus target price of $299.27.

Insider Activity at ResMed

In other news, Director Witte Jan De sold 2,055 shares of the company’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $255.00, for a total transaction of $524,025.00. Following the transaction, the director directly owned 4,261 shares of the company’s stock, valued at $1,086,555. This represents a 32.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $248.46, for a total value of $1,240,063.86. Following the sale, the chief executive officer directly owned 466,223 shares in the company, valued at $115,837,766.58. This trade represents a 1.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 18,137 shares of company stock valued at $4,658,832. 0.65% of the stock is owned by corporate 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.