Assenagon Asset Management S.A. Has $2.44 Million Holdings in ResMed Inc. (NYSE:RMD)

Assenagon Asset Management S.A. trimmed its position in ResMed Inc. (NYSE:RMD) by 68.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,907 shares of the medical equipment provider’s stock after selling 23,579 shares during the quarter. Assenagon Asset Management S.A.’s holdings in ResMed were worth $2,442,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Colonial Trust Co SC lifted its position in ResMed by 6,250.0% in the 4th quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider’s stock worth $29,000 after buying an additional 125 shares in the last quarter. Optiver Holding B.V. purchased a new position in shares of ResMed during the 4th quarter valued at $33,000. Itau Unibanco Holding S.A. increased its stake in shares of ResMed by 1,000.0% in the fourth quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider’s stock worth $38,000 after acquiring an additional 150 shares during the last quarter. OFI Invest Asset Management acquired a new position in shares of ResMed in the fourth quarter worth $39,000. Finally, Coppell Advisory Solutions LLC raised its holdings in shares of ResMed by 1,750.0% during the fourth quarter. Coppell Advisory Solutions LLC now owns 185 shares of the medical equipment provider’s stock worth $42,000 after acquiring an additional 175 shares in the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RMD has been the subject of several research reports. UBS Group reduced their price target on ResMed from $290.00 to $285.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Morgan Stanley set a $286.00 price objective on shares of ResMed and gave the company an “overweight” rating in a research report on Tuesday, May 20th. JPMorgan Chase & Co. boosted their target price on shares of ResMed from $286.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Stifel Nicolaus dropped their price target on shares of ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a research note on Wednesday, March 5th. Finally, KeyCorp set a $274.00 price target on shares of ResMed in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $259.33.

Insider Activity

In other news, CEO Michael J. Farrell sold 8,009 shares of the company’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $243.23, for a total transaction of $1,948,029.07. Following the completion of the transaction, the chief executive officer now directly owns 455,503 shares in the company, valued at approximately $110,791,994.69. This represents a 1.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Witte Jan De sold 2,000 shares of ResMed stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $243.47, for a total value of $486,940.00. Following the sale, the director now directly owns 5,806 shares in the company, valued at $1,413,586.82. The trade was a 25.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,132 shares of company stock worth $7,075,837. Corporate insiders own 0.71% of the company’s stock.

ResMed Stock Performance

Shares of RMD opened at $251.61 on Tuesday. The company has a market cap of $36.89 billion, a PE ratio of 29.71, a price-to-earnings-growth ratio of 1.53 and a beta of 0.78. The firm has a 50-day moving average of $237.75 and a 200-day moving average of $234.65. ResMed Inc. has a one year low of $179.42 and a one year high of $263.05. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29.

ResMed (NYSE:RMD) last announced its earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, topping the consensus estimate of $2.36 by $0.01. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. ResMed had a net margin of 25.34% and a return on equity of 26.17%. ResMed’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.13 EPS. As a group, equities analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th were given a $0.53 dividend. The ex-dividend date was Thursday, May 8th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.84%. ResMed’s payout ratio is 23.79%.

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.