Securian Asset Management Inc. Sells 139 Shares of ResMed Inc. $RMD

Securian Asset Management Inc. lowered its holdings in ResMed Inc. (NYSE:RMD) by 1.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,680 shares of the medical equipment provider’s stock after selling 139 shares during the period. Securian Asset Management Inc.’s holdings in ResMed were worth $1,981,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Golden State Wealth Management LLC grew its position in ResMed by 384.8% in the first quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider’s stock valued at $36,000 after purchasing an additional 127 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in ResMed in the first quarter valued at $45,000. Groupe la Francaise bought a new position in ResMed in the first quarter valued at $45,000. Harbour Investments Inc. grew its position in ResMed by 264.2% in the second quarter. Harbour Investments Inc. now owns 244 shares of the medical equipment provider’s stock valued at $63,000 after purchasing an additional 177 shares in the last quarter. Finally, Larson Financial Group LLC lifted its stake in ResMed by 926.7% in the first quarter. Larson Financial Group LLC now owns 308 shares of the medical equipment provider’s stock valued at $69,000 after acquiring an additional 278 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on RMD. Royal Bank Of Canada increased their price target on shares of ResMed from $294.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Mizuho increased their price target on shares of ResMed from $270.00 to $290.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. UBS Group upgraded shares of ResMed to a “strong-buy” rating in a research note on Tuesday, September 16th. Wells Fargo & Company began coverage on shares of ResMed in a research note on Monday, October 13th. They issued an “equal weight” rating and a $280.00 price target for the company. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of ResMed in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $294.55.

ResMed Price Performance

NYSE:RMD opened at $266.32 on Thursday. ResMed Inc. has a 52 week low of $199.92 and a 52 week high of $293.81. The firm has a market cap of $38.87 billion, a price-to-earnings ratio of 28.00, a P/E/G ratio of 1.79 and a beta of 0.83. The firm’s 50-day simple moving average is $276.14 and its 200 day simple moving average is $258.27. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.53 and a current ratio of 3.44.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.08. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period last year, the firm earned $2.08 earnings per share. ResMed’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, sell-side analysts predict that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, August 14th were given a dividend of $0.60 per share. This is a positive change from ResMed’s previous quarterly dividend of $0.53. This represents a $2.40 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Thursday, August 14th. ResMed’s payout ratio is 25.24%.

Insider Buying and Selling

In other ResMed news, General Counsel Michael J. Rider sold 100 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $274.36, for a total transaction of $27,436.00. Following the sale, the general counsel directly owned 11,327 shares in the company, valued at $3,107,675.72. This represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $282.85, for a total transaction of $2,265,345.65. Following the sale, the chief executive officer owned 467,792 shares in the company, valued at $132,314,967.20. The trade was a 1.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,743 shares of company stock valued at $5,284,514. 0.65% of the stock is owned by company insiders.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.