APG Asset Management N.V. Sells 2,024 Shares of ResMed Inc. $RMD

APG Asset Management N.V. trimmed its holdings in ResMed Inc. (NYSE:RMD) by 1.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,715 shares of the medical equipment provider’s stock after selling 2,024 shares during the quarter. APG Asset Management N.V. owned about 0.08% of ResMed worth $31,127,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Entropy Technologies LP grew its holdings in shares of ResMed by 188.7% in the second quarter. Entropy Technologies LP now owns 16,384 shares of the medical equipment provider’s stock worth $4,227,000 after acquiring an additional 10,708 shares during the period. Quantbot Technologies LP increased its holdings in ResMed by 244.8% in the 2nd quarter. Quantbot Technologies LP now owns 36,355 shares of the medical equipment provider’s stock worth $9,380,000 after acquiring an additional 25,810 shares in the last quarter. Allianz Asset Management GmbH raised its position in shares of ResMed by 44.8% during the 3rd quarter. Allianz Asset Management GmbH now owns 357,421 shares of the medical equipment provider’s stock valued at $97,837,000 after purchasing an additional 110,647 shares during the period. Nordea Investment Management AB raised its holdings in ResMed by 3.5% during the third quarter. Nordea Investment Management AB now owns 790,872 shares of the medical equipment provider’s stock valued at $217,387,000 after acquiring an additional 26,629 shares during the period. Finally, WCM Investment Management LLC bought a new stake in ResMed during the 3rd quarter valued at approximately $3,110,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Analyst Ratings Changes

RMD has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their target price on ResMed from $265.00 to $270.00 and gave the stock an “equal weight” rating in a research report on Friday, January 30th. Weiss Ratings upgraded shares of ResMed from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 9th. Stifel Nicolaus boosted their price objective on ResMed from $260.00 to $265.00 and gave the company a “hold” rating in a report on Friday, January 30th. Piper Sandler boosted their price objective on shares of ResMed from $270.00 to $275.00 and gave the company a “neutral” rating in a research report on Friday, January 30th. Finally, Wall Street Zen upgraded ResMed from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, ResMed presently has a consensus rating of “Moderate Buy” and a consensus price target of $299.27.

ResMed Price Performance

Shares of ResMed stock opened at $256.34 on Monday. The firm has a market cap of $37.34 billion, a PE ratio of 25.36, a P/E/G ratio of 1.70 and a beta of 0.88. ResMed Inc. has a twelve month low of $199.92 and a twelve month high of $293.81. The business has a 50-day moving average price of $254.05 and a 200 day moving average price of $260.86. The company has a quick ratio of 2.32, a current ratio of 3.06 and a debt-to-equity ratio of 0.06.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, January 29th. The medical equipment provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.13. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.43 EPS. Sell-side analysts predict that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Thursday, February 12th will be issued a $0.60 dividend. The ex-dividend date is Thursday, February 12th. This represents a $2.40 dividend on an annualized basis and a yield of 0.9%. ResMed’s dividend payout ratio is currently 23.74%.

Insiders Place Their Bets

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $251.31, for a total transaction of $502,620.00. Following the completion of the transaction, the director owned 64,773 shares of the company’s stock, valued at $16,278,102.63. This trade represents a 3.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $248.46, for a total value of $1,240,063.86. Following the completion of the sale, the chief executive officer directly owned 466,223 shares of the company’s stock, valued at $115,837,766.58. The trade was a 1.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 16,082 shares of company stock valued at $4,134,807. Company insiders own 0.65% of the company’s stock.

About ResMed

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.