KBC Group NV Has $57.23 Million Stake in ResMed Inc. $RMD

KBC Group NV lifted its position in ResMed Inc. (NYSE:RMD) by 126.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 237,604 shares of the medical equipment provider’s stock after acquiring an additional 132,868 shares during the period. KBC Group NV’s holdings in ResMed were worth $57,232,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of RMD. Landscape Capital Management L.L.C. grew its position in ResMed by 123.2% in the third 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 acquiring an additional 27,060 shares during the period. Nordea Investment Management AB grew its position in ResMed by 37.2% in the fourth quarter. Nordea Investment Management AB now owns 1,084,996 shares of the medical equipment provider’s stock valued at $262,027,000 after acquiring an additional 294,124 shares during the period. Allianz Asset Management GmbH grew its position in ResMed by 44.8% in the third quarter. Allianz Asset Management GmbH now owns 357,421 shares of the medical equipment provider’s stock valued at $97,837,000 after acquiring an additional 110,647 shares during the period. Russell Investments Group Ltd. grew its position in ResMed by 20.2% in the third quarter. Russell Investments Group Ltd. now owns 112,755 shares of the medical equipment provider’s stock valued at $30,847,000 after acquiring an additional 18,966 shares during the period. Finally, WCM Investment Management LLC bought a new stake in ResMed in the third quarter valued at $3,110,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RMD has been the topic of a number of analyst reports. Citigroup lowered their price target on ResMed from $345.00 to $340.00 and set a “buy” rating on the stock in a research report on Thursday, April 9th. Wall Street Zen cut ResMed from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Royal Bank Of Canada upped their price target on ResMed from $311.00 to $314.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. KeyCorp reiterated an “overweight” rating and issued a $302.00 price target on shares of ResMed in a research report on Friday, January 30th. Finally, Wells Fargo & Company upped their price target on ResMed from $265.00 to $270.00 and gave the company an “equal weight” rating in a research report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $295.17.

Insider Activity

In related news, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $273.78, for a total value of $1,366,435.98. Following the transaction, the chief executive officer owned 466,223 shares in the company, valued at $127,642,532.94. This trade represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total value of $450,000.00. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 21,023 shares of company stock worth $5,230,857. 0.65% of the stock is owned by company insiders.

ResMed Price Performance

Shares of RMD stock opened at $224.76 on Friday. The stock’s fifty day moving average is $241.17 and its 200-day moving average is $250.63. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.32 and a current ratio of 3.06. The stock has a market capitalization of $32.74 billion, a PE ratio of 22.23, a PEG ratio of 1.51 and a beta of 0.93. ResMed Inc. has a 52 week low of $202.00 and a 52 week high of $293.81.

ResMed (NYSE:RMD) last announced its earnings results on Friday, January 30th. The medical equipment provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.68 by $0.13. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.40 billion. ResMed had a return on equity of 25.20% and a net margin of 27.53%.The business’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.43 earnings per share. Equities research analysts expect that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Thursday, February 12th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Thursday, February 12th. ResMed’s dividend payout ratio is presently 23.74%.

ResMed Profile

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.