BI Asset Management Fondsmaeglerselskab A S Buys 2,933 Shares of ResMed Inc. (NYSE:RMD)

BI Asset Management Fondsmaeglerselskab A S grew its position in shares of ResMed Inc. (NYSE:RMD) by 146.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,942 shares of the medical equipment provider’s stock after acquiring an additional 2,933 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in ResMed were worth $979,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Atlantic Edge Private Wealth Management LLC bought a new position in ResMed in the 4th quarter valued at about $27,000. Hall Laurie J Trustee bought a new position in shares of ResMed in the first quarter valued at approximately $32,000. Planned Solutions Inc. purchased a new position in shares of ResMed during the fourth quarter valued at approximately $34,000. BOK Financial Private Wealth Inc. bought a new stake in ResMed during the first quarter worth $35,000. Finally, MV Capital Management Inc. raised its position in ResMed by 39.0% in 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 during the last quarter. 54.98% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Witte Jan De sold 360 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $218.29, for a total value of $78,584.40. Following the completion of the transaction, the director now directly owns 7,519 shares of the company’s stock, valued at approximately $1,641,322.51. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Witte Jan De sold 360 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $218.29, for a total value of $78,584.40. Following the completion of the transaction, the director now directly owns 7,519 shares of the company’s stock, valued at $1,641,322.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brett Sandercock sold 1,000 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $209.81, for a total value of $209,810.00. Following the sale, the chief financial officer now owns 91,056 shares in the company, valued at $19,104,459.36. The disclosure for this sale can be found here. Insiders have sold a total of 32,151 shares of company stock valued at $6,860,759 over the last quarter. Company insiders own 1.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on RMD shares. Mizuho reiterated a “buy” rating and issued a $215.00 target price on shares of ResMed in a research note on Wednesday, March 27th. KeyCorp upped their price objective on shares of ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Needham & Company LLC reiterated a “buy” rating and issued a $236.00 price objective on shares of ResMed in a research note on Monday, June 24th. Citigroup downgraded ResMed from a “buy” rating to a “neutral” rating in a research note on Monday, June 24th. Finally, Oppenheimer downgraded ResMed from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, ResMed presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.80.

ResMed Stock Performance

ResMed stock traded up $0.27 during trading on Wednesday, hitting $190.60. The stock had a trading volume of 97,215 shares, compared to its average volume of 1,059,986. The company has a quick ratio of 1.97, a current ratio of 3.04 and a debt-to-equity ratio of 0.22. The stock’s 50 day moving average is $207.52 and its two-hundred day moving average is $192.30. ResMed Inc. has a 1 year low of $132.24 and a 1 year high of $229.97. The stock has a market cap of $28.00 billion, a price-to-earnings ratio of 29.24, a price-to-earnings-growth ratio of 1.68 and a beta of 0.66.

ResMed (NYSE:RMD) last issued 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. ResMed had a return on equity of 24.43% and a net margin of 20.91%. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the prior year, the firm earned $1.68 EPS. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, analysts predict that ResMed Inc. will post 7.7 EPS for the current year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 9th were paid a $0.48 dividend. The ex-dividend date was Wednesday, May 8th. This represents a $1.92 annualized dividend and a dividend yield of 1.01%. ResMed’s payout ratio is 29.49%.

ResMed Company Profile

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.