ResMed Inc. (NYSE:RMD) Position Increased by BNP PARIBAS ASSET MANAGEMENT Holding S.A.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in ResMed Inc. (NYSE:RMD) by 233.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 74,369 shares of the medical equipment provider’s stock after buying an additional 52,046 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in ResMed were worth $18,155,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of RMD. OFI Invest Asset Management acquired a new stake in shares of ResMed during the second quarter worth $32,000. Ashton Thomas Securities LLC purchased a new position in ResMed in the 3rd quarter worth about $34,000. Versant Capital Management Inc raised its holdings in ResMed by 196.7% during the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 120 shares during the period. Financial Connections Group Inc. acquired a new position in shares of ResMed in the second quarter worth about $37,000. Finally, Blue Trust Inc. increased its position in shares of ResMed by 182.7% in the second quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock worth $42,000 after acquiring an additional 137 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Royal Bank of Canada lifted their price target on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Wolfe Research reissued an “underperform” rating and issued a $180.00 price objective on shares of ResMed in a research note on Wednesday, September 18th. Robert W. Baird upped their target price on ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Finally, Bank of America boosted their price objective on shares of ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.70.

ResMed Stock Up 0.1 %

RMD stock opened at $243.78 on Friday. The firm has a market cap of $35.79 billion, a PE ratio of 32.29, a PEG ratio of 1.73 and a beta of 0.69. ResMed Inc. has a 1 year low of $151.95 and a 1 year high of $260.49. The company has a fifty day simple moving average of $241.86 and a 200 day simple moving average of $224.42. 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 announced its quarterly 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 company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.64 earnings per share. Sell-side analysts anticipate that ResMed Inc. will post 9.28 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Thursday, November 7th. ResMed’s dividend payout ratio is 28.08%.

Insider Transactions at ResMed

In other news, Director Witte Jan De sold 796 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total value of $198,052.76. Following the sale, the director now owns 6,723 shares in the company, valued at approximately $1,672,749.63. This trade represents a 10.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Kaushik Ghoshal sold 5,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $252.56, for a total transaction of $1,262,800.00. Following the transaction, the insider now owns 21,788 shares of the company’s stock, valued at approximately $5,502,777.28. The trade was a 18.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 62,174 shares of company stock worth $14,882,278. Company insiders own 0.71% of the company’s stock.

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.