ResMed Inc. $RMD Position Boosted by BNP Paribas Financial Markets

BNP Paribas Financial Markets raised its holdings in shares of ResMed Inc. (NYSE:RMD) by 81.1% during the 4th quarter, HoldingsChannel reports. The fund owned 283,827 shares of the medical equipment provider’s stock after purchasing an additional 127,139 shares during the period. BNP Paribas Financial Markets’ holdings in ResMed were worth $68,365,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Landscape Capital Management L.L.C. lifted its holdings in shares of ResMed by 123.2% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 49,017 shares of the medical equipment provider’s stock valued at $13,417,000 after buying an additional 27,060 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of ResMed by 37.2% during the 4th quarter. Nordea Investment Management AB now owns 1,084,996 shares of the medical equipment provider’s stock valued at $262,027,000 after buying an additional 294,124 shares during the last quarter. WCM Investment Management LLC acquired a new stake in shares of ResMed during the 3rd quarter valued at about $3,110,000. Russell Investments Group Ltd. lifted its holdings in shares of ResMed by 20.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 112,755 shares of the medical equipment provider’s stock valued at $30,847,000 after buying an additional 18,966 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings in shares of ResMed by 44.8% during the 3rd quarter. Allianz Asset Management GmbH now owns 357,421 shares of the medical equipment provider’s stock valued at $97,837,000 after buying an additional 110,647 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Insider Buying and Selling

In other news, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $207.82, for a total transaction of $1,037,229.62. Following the sale, the chief executive officer directly owned 466,223 shares in the company, valued at approximately $96,890,463.86. The trade was a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 business’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total value of $450,000.00. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 18,973 shares of company stock worth $4,386,031. 0.65% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

RMD has been the subject of several research reports. Evercore set a $255.00 price target on ResMed and gave the company an “outperform” rating in a report on Monday, April 13th. Robert W. Baird set a $225.00 price target on ResMed in a report on Friday, May 1st. Royal Bank Of Canada boosted their target price on ResMed from $314.00 to $321.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. Wall Street Zen lowered ResMed from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Finally, JPMorgan Chase & Co. initiated coverage on ResMed in a report on Wednesday, April 15th. They issued an “overweight” rating for the company. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, ResMed currently has a consensus rating of “Moderate Buy” and an average target price of $286.18.

ResMed Stock Down 2.1%

Shares of RMD stock opened at $186.58 on Tuesday. ResMed Inc. has a 12 month low of $184.59 and a 12 month high of $293.81. The firm has a market cap of $27.07 billion, a PE ratio of 17.99, a price-to-earnings-growth ratio of 1.21 and a beta of 0.80. The stock has a 50 day moving average of $216.11 and a 200-day moving average of $238.80. The company has a quick ratio of 2.33, a current ratio of 3.01 and a debt-to-equity ratio of 0.06.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.07. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.42 billion. ResMed had a return on equity of 25.35% and a net margin of 27.44%.The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.37 earnings per share. On average, equities analysts predict that ResMed Inc. will post 11.13 EPS for the current year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th will be given a dividend of $0.60 per share. The ex-dividend date is Thursday, May 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.3%. ResMed’s payout ratio is currently 23.14%.

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.