Amundi Sells 211,218 Shares of ResMed Inc. $RMD

Amundi reduced its holdings in ResMed Inc. (NYSE:RMD) by 33.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 419,931 shares of the medical equipment provider’s stock after selling 211,218 shares during the period. Amundi owned approximately 0.29% of ResMed worth $107,431,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. ICW Investment Advisors LLC raised its position in ResMed by 0.4% in the 1st quarter. ICW Investment Advisors LLC now owns 11,394 shares of the medical equipment provider’s stock worth $2,551,000 after purchasing an additional 41 shares during the period. Johnson Investment Counsel Inc. boosted its position in ResMed by 2.8% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 1,665 shares of the medical equipment provider’s stock valued at $430,000 after acquiring an additional 45 shares in the last quarter. Quadcap Wealth Management LLC lifted its position in shares of ResMed by 2.5% during the second quarter. Quadcap Wealth Management LLC now owns 1,880 shares of the medical equipment provider’s stock valued at $485,000 after buying an additional 45 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in ResMed by 3.9% during the first quarter. Smartleaf Asset Management LLC now owns 1,222 shares of the medical equipment provider’s stock valued at $269,000 after acquiring an additional 46 shares during the last quarter. Finally, E Fund Management Co. Ltd. boosted its position in shares of ResMed by 2.8% in the 1st quarter. E Fund Management Co. Ltd. now owns 1,719 shares of the medical equipment provider’s stock worth $385,000 after purchasing an additional 47 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

ResMed Stock Up 2.0%

Shares of NYSE RMD opened at $256.61 on Monday. The business’s 50 day moving average is $259.47 and its two-hundred day moving average is $263.72. ResMed Inc. has a 52-week low of $199.92 and a 52-week high of $293.81. The company has a quick ratio of 2.13, a current ratio of 2.89 and a debt-to-equity ratio of 0.07. The firm has a market cap of $37.45 billion, a price-to-earnings ratio of 26.27, a PEG ratio of 1.73 and a beta of 0.87.

ResMed (NYSE:RMD) last released its earnings results on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.06. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.33 billion. ResMed had a return on equity of 25.45% and a net margin of 27.35%.ResMed’s revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.20 EPS. Research analysts predict that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, November 13th will be issued a dividend of $0.60 per share. The ex-dividend date is Thursday, November 13th. This represents a $2.40 annualized dividend and a yield of 0.9%. ResMed’s dividend payout ratio is 24.56%.

Insider Activity

In other news, General Counsel Michael J. Rider sold 100 shares of the company’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $274.36, for a total transaction of $27,436.00. Following the completion of the transaction, the general counsel directly owned 11,327 shares of the company’s stock, valued at approximately $3,107,675.72. This represents a 0.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael J. Farrell sold 8,011 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $249.75, for a total value of $2,000,747.25. Following the completion of the transaction, the chief executive officer directly owned 467,866 shares of the company’s stock, valued at $116,849,533.50. This trade represents a 1.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 22,662 shares of company stock worth $5,946,466 in the last ninety days. 0.65% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Robert W. Baird dropped their target price on shares of ResMed from $320.00 to $300.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. UBS Group upgraded shares of ResMed to a “strong-buy” rating in a research report on Tuesday, September 16th. Wells Fargo & Company started coverage on ResMed in a research report on Monday, October 13th. They issued an “equal weight” rating and a $280.00 price objective for the company. CLSA upgraded shares of ResMed from a “hold” rating to an “outperform” rating in a research report on Tuesday, September 2nd. Finally, Wall Street Zen cut shares of ResMed from a “buy” rating to a “hold” rating in a research note on Sunday, August 10th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $297.45.

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.