KBC Group NV lessened its holdings in ResMed Inc. (NYSE:RMD – Free Report) by 84.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 37,924 shares of the medical equipment provider’s stock after selling 199,680 shares during the period. KBC Group NV’s holdings in ResMed were worth $8,513,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. First Trust Advisors LP raised its position in ResMed by 240.9% in the fourth quarter. First Trust Advisors LP now owns 1,517,592 shares of the medical equipment provider’s stock worth $365,542,000 after acquiring an additional 1,072,394 shares during the period. Norges Bank bought a new stake in shares of ResMed during the 4th quarter valued at $249,068,000. Deutsche Bank AG increased its stake in shares of ResMed by 126.0% in the 4th quarter. Deutsche Bank AG now owns 1,413,477 shares of the medical equipment provider’s stock worth $340,464,000 after purchasing an additional 787,949 shares in the last quarter. Morgan Stanley raised its holdings in ResMed by 25.0% in the 4th quarter. Morgan Stanley now owns 2,891,697 shares of the medical equipment provider’s stock worth $696,523,000 after purchasing an additional 578,559 shares during the period. Finally, Swedbank AB raised its holdings in ResMed by 103.1% in the 4th quarter. Swedbank AB now owns 1,102,476 shares of the medical equipment provider’s stock worth $265,553,000 after purchasing an additional 559,765 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.
ResMed Price Performance
Shares of NYSE:RMD opened at $193.19 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.33 and a current ratio of 3.01. The firm has a fifty day moving average price of $199.04 and a 200 day moving average price of $225.56. ResMed Inc. has a fifty-two week low of $180.26 and a fifty-two week high of $293.81. The firm has a market cap of $28.02 billion, a price-to-earnings ratio of 18.63, a P/E/G ratio of 1.22 and a beta of 0.78.
ResMed Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Thursday, May 14th. ResMed’s payout ratio is 23.14%.
Insider Activity
In related news, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $218.55, for a total value of $1,090,783.05. Following the sale, the chief executive officer directly owned 466,223 shares in the company, valued at approximately $101,893,036.65. The trade was a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 14,973 shares of company stock valued at $3,096,067 over the last quarter. Insiders own 0.65% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have issued reports on RMD shares. Jefferies Financial Group cut their price target on ResMed from $240.00 to $225.00 and set a “hold” rating for the company in a report on Friday, July 10th. UBS Group reaffirmed a “buy” rating and issued a $300.00 price objective on shares of ResMed in a research note on Tuesday. Citigroup reaffirmed a “neutral” rating and set a $235.00 price objective (down from $270.00) on shares of ResMed in a research report on Sunday, July 12th. Mizuho cut their price objective on ResMed from $235.00 to $220.00 and set an “outperform” rating for the company in a research note on Wednesday, July 15th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of ResMed in a report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $246.25.
Check Out Our Latest Research Report on RMD
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.
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