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

BI Asset Management Fondsmaeglerselskab A S lessened its stake in ResMed Inc. (NYSE:RMD) by 88.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,487 shares of the medical equipment provider’s stock after selling 54,875 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in ResMed were worth $1,681,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of RMD. International Assets Investment Management LLC bought a new stake in shares of ResMed during the fourth quarter valued at approximately $25,000. ORG Partners LLC boosted its position in shares of ResMed by 181.6% during the fourth quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock valued at $26,000 after buying an additional 69 shares during the last quarter. Imprint Wealth LLC purchased a new stake in shares of ResMed during the third quarter valued at $26,000. WFA of San Diego LLC bought a new stake in ResMed in the 2nd quarter worth about $26,000. Finally, Sunbelt Securities Inc. bought a new stake in ResMed in the 3rd quarter worth about $31,000. 54.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ResMed

In other news, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction on Monday, June 8th. The shares were sold at an average price of $193.96, for a total value of $968,054.36. Following the sale, the chief executive officer owned 466,256 shares of the company’s stock, valued at approximately $90,435,013.76. This represents a 1.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 2,000 shares of the company’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. Insiders have sold 16,973 shares of company stock valued at $3,580,754 over the last ninety days. 0.65% of the stock is owned by insiders.

ResMed Price Performance

Shares of ResMed stock opened at $196.34 on Thursday. The firm has a market cap of $28.48 billion, a PE ratio of 18.93, a PEG ratio of 1.22 and a beta of 0.80. The stock has a 50 day moving average of $204.53 and a 200 day moving average of $231.80. The company has a current ratio of 3.01, a quick ratio of 2.33 and a debt-to-equity ratio of 0.06. 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 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.07. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.42 billion. ResMed had a net margin of 27.44% and a return on equity of 25.35%. ResMed’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period last year, the firm posted $2.37 earnings per share. On average, research analysts expect that ResMed Inc. will post 11.13 EPS for the current fiscal year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, May 14th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.2%. The ex-dividend date was Thursday, May 14th. ResMed’s dividend payout ratio is presently 23.14%.

Analyst Ratings Changes

RMD has been the topic of a number of research analyst reports. Wall Street Zen downgraded shares of ResMed from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Morgan Stanley reiterated an “equal weight” rating and set a $230.00 target price (down from $286.00) on shares of ResMed in a research note on Wednesday, June 17th. Royal Bank Of Canada increased their price target on ResMed from $314.00 to $321.00 and gave the company an “outperform” rating in a report on Friday, May 1st. KeyCorp dropped their price target on ResMed from $290.00 to $266.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, Citigroup dropped their target price on ResMed from $340.00 to $270.00 and set a “buy” rating on the stock in a research report on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, ResMed currently has an average rating of “Moderate Buy” and a consensus price target of $270.82.

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.