Allianz Asset Management GmbH Sells 5,534 Shares of ResMed Inc. (NYSE:RMD)

Allianz Asset Management GmbH decreased its stake in ResMed Inc. (NYSE:RMD) by 5.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,879 shares of the medical equipment provider’s stock after selling 5,534 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.07% of ResMed worth $23,985,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of RMD. State Street Corp boosted its stake in shares of ResMed by 1.9% in the 3rd quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider’s stock valued at $1,528,590,000 after purchasing an additional 116,918 shares in the last quarter. Geode Capital Management LLC lifted its holdings in ResMed by 10.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock valued at $939,114,000 after purchasing an additional 380,383 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in ResMed by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 924,047 shares of the medical equipment provider’s stock valued at $225,578,000 after purchasing an additional 13,985 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in ResMed by 0.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 742,411 shares of the medical equipment provider’s stock valued at $181,237,000 after buying an additional 2,406 shares in the last quarter. Finally, Tandem Investment Advisors Inc. grew its stake in ResMed by 1.0% during the fourth quarter. Tandem Investment Advisors Inc. now owns 501,747 shares of the medical equipment provider’s stock worth $114,745,000 after buying an additional 5,087 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors.

ResMed Trading Down 1.0 %

Shares of NYSE:RMD opened at $229.47 on Tuesday. The stock has a market capitalization of $33.70 billion, a PE ratio of 27.09, a price-to-earnings-growth ratio of 1.53 and a beta of 0.70. The company’s 50-day moving average price is $237.20 and its two-hundred day moving average price is $239.52. 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 Inc. has a one year low of $170.56 and a one year high of $263.05.

ResMed (NYSE:RMD) last released its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. On average, equities analysts forecast that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.92%. The ex-dividend date is Thursday, February 13th. ResMed’s payout ratio is presently 25.03%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Stifel Nicolaus started coverage on shares of ResMed in a research note on Friday, December 13th. They issued a “hold” rating and a $250.00 target price for the company. UBS Group upgraded shares of ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. raised their target price on ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Piper Sandler lifted their price target on shares of ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Finally, The Goldman Sachs Group began coverage on ResMed in a report on Thursday, January 16th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, ResMed presently has an average rating of “Moderate Buy” and a consensus price target of $244.73.

Insider Activity at ResMed

In other news, CEO Michael J. Farrell sold 8,009 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $236.77, for a total value of $1,896,290.93. Following the sale, the chief executive officer now directly owns 455,472 shares of the company’s stock, valued at approximately $107,842,105.44. This represents a 1.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total transaction of $491,300.00. Following the completion of the sale, the director now owns 81,218 shares of the company’s stock, valued at $19,951,201.70. This trade represents a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,147 shares of company stock valued at $2,905,745. 0.71% of the stock is owned by corporate insiders.

ResMed Company 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.