KBC Group NV Lowers Position in ResMed Inc. (NYSE:RMD)

KBC Group NV reduced its holdings in ResMed Inc. (NYSE:RMDFree Report) by 88.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,126 shares of the medical equipment provider’s stock after selling 185,582 shares during the quarter. KBC Group NV’s holdings in ResMed were worth $4,322,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in RMD. Atlantic Edge Private Wealth Management LLC bought a new position in shares of ResMed in the fourth quarter worth approximately $27,000. Operose Advisors LLC bought a new position in shares of ResMed in the 3rd quarter worth $32,000. Planned Solutions Inc. purchased a new stake in shares of ResMed during the 4th quarter valued at $34,000. MV Capital Management Inc. raised its position in shares of ResMed by 39.0% during the 4th quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock valued at $37,000 after buying an additional 60 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in shares of ResMed during the 4th quarter worth $45,000. 54.98% of the stock is currently owned by institutional investors.

Insider Activity at ResMed

In other ResMed news, Director Karen Drexler sold 425 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $214.92, for a total value of $91,341.00. Following the completion of the sale, the director now owns 8,446 shares in the company, valued at approximately $1,815,214.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Witte Jan De sold 360 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $218.29, for a total transaction of $78,584.40. Following the transaction, the director now owns 7,519 shares in the company, valued at $1,641,322.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Karen Drexler sold 425 shares of the stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $214.92, for a total transaction of $91,341.00. Following the completion of the transaction, the director now directly owns 8,446 shares of the company’s stock, valued at $1,815,214.32. The disclosure for this sale can be found here. Insiders have sold a total of 15,468 shares of company stock worth $3,348,795 in the last 90 days. Company insiders own 1.21% of the company’s stock.

ResMed Stock Performance

NYSE:RMD opened at $211.56 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.97 and a current ratio of 3.04. ResMed Inc. has a fifty-two week low of $132.24 and a fifty-two week high of $229.97. The firm has a market cap of $31.08 billion, a PE ratio of 32.50, a price-to-earnings-growth ratio of 2.09 and a beta of 0.68. The business has a 50 day moving average price of $202.99 and a 200-day moving average price of $186.01.

ResMed (NYSE:RMDGet Free Report) last posted its quarterly earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $1.91 by $0.22. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. ResMed had a net margin of 20.91% and a return on equity of 24.43%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.68 EPS. Equities research analysts predict that ResMed Inc. will post 7.7 earnings per share for the current year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 9th will be paid a $0.48 dividend. The ex-dividend date is Wednesday, May 8th. This represents a $1.92 annualized dividend and a dividend yield of 0.91%. ResMed’s payout ratio is presently 29.49%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on RMD shares. Mizuho reissued a “buy” rating and issued a $215.00 target price on shares of ResMed in a research note on Wednesday, March 27th. Needham & Company LLC increased their price objective on ResMed from $224.00 to $236.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Royal Bank of Canada boosted their target price on ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a research report on Friday, April 26th. KeyCorp upped their target price on ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Finally, Oppenheimer decreased their price target on shares of ResMed from $205.00 to $200.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, ResMed presently has a consensus rating of “Moderate Buy” and an average target price of $202.80.

Read Our Latest Stock Report on RMD

About ResMed

(Free Report)

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.

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Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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