ResMed Inc. (NYSE:RMD) Shares Acquired by KBC Group NV

KBC Group NV increased its holdings in shares of ResMed Inc. (NYSE:RMD) by 255.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 72,731 shares of the medical equipment provider’s stock after purchasing an additional 52,259 shares during the quarter. KBC Group NV’s holdings in ResMed were worth $17,756,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in RMD. Huntington National Bank raised its stake in shares of ResMed by 6.9% during the third quarter. Huntington National Bank now owns 1,868 shares of the medical equipment provider’s stock valued at $456,000 after purchasing an additional 120 shares during the period. Cable Hill Partners LLC acquired a new stake in ResMed during the third quarter valued at approximately $211,000. Victory Capital Management Inc. lifted its stake in ResMed by 11.4% during the third quarter. Victory Capital Management Inc. now owns 116,710 shares of the medical equipment provider’s stock worth $28,491,000 after purchasing an additional 11,914 shares during the last quarter. Cumberland Partners Ltd bought a new position in shares of ResMed in the 3rd quarter worth about $488,000. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in ResMed by 4.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 345,542 shares of the medical equipment provider’s stock valued at $84,354,000 after acquiring an additional 14,465 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Activity at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $239.90, for a total transaction of $479,800.00. Following the completion of the sale, the director now owns 87,204 shares of the company’s stock, valued at approximately $20,920,239.60. This trade represents a 2.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Michael J. Rider sold 882 shares of ResMed stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $231.00, for a total value of $203,742.00. Following the completion of the transaction, the general counsel now owns 10,512 shares of the company’s stock, valued at approximately $2,428,272. The trade was a 7.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 63,056 shares of company stock worth $15,086,020 over the last three months. Company insiders own 0.71% of the company’s stock.

ResMed Stock Up 1.4 %

RMD stock opened at $234.77 on Friday. The firm has a market cap of $34.46 billion, a PE ratio of 30.99, a PEG ratio of 1.71 and a beta of 0.69. The company has a fifty day simple moving average of $243.03 and a 200 day simple moving average of $223.42. ResMed Inc. has a 1 year low of $147.39 and a 1 year high of $260.49. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last released its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The business’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.64 EPS. Sell-side analysts anticipate that ResMed Inc. will post 9.28 EPS for the current fiscal year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th will be given a $0.53 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 annualized dividend and a yield of 0.90%. ResMed’s dividend payout ratio is 28.08%.

Analyst Upgrades and Downgrades

RMD has been the subject of several analyst reports. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a report on Friday, October 25th. Royal Bank of Canada boosted their price objective on ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Wolfe Research reissued an “underperform” rating and set a $180.00 target price on shares of ResMed in a research note on Wednesday, September 18th. Baird R W upgraded ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, Robert W. Baird lifted their price objective on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, ResMed has an average rating of “Moderate Buy” and a consensus target price of $225.70.

About ResMed

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.