Achmea Investment Management B.V. Decreases Stake in ResMed Inc. $RMD

Achmea Investment Management B.V. lowered its holdings in ResMed Inc. (NYSE:RMD) by 41.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 138,375 shares of the medical equipment provider’s stock after selling 99,277 shares during the quarter. Achmea Investment Management B.V. owned 0.09% of ResMed worth $37,877,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. SJS Investment Consulting Inc. increased its position in shares of ResMed by 1,433.3% in the third quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 86 shares in the last quarter. Imprint Wealth LLC acquired a new stake in ResMed during the 3rd quarter valued at $26,000. WFA of San Diego LLC acquired a new position in shares of ResMed in the second quarter worth $26,000. Sunbelt Securities Inc. acquired a new stake in shares of ResMed during the third quarter valued at $31,000. Finally, Westside Investment Management Inc. lifted its holdings in ResMed by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 132 shares of the medical equipment provider’s stock valued at $36,000 after purchasing an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Stock Performance

NYSE:RMD opened at $233.60 on Wednesday. The firm has a market capitalization of $34.03 billion, a PE ratio of 23.11, a price-to-earnings-growth ratio of 1.53 and a beta of 0.88. 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 Inc. has a 12-month low of $199.92 and a 12-month high of $293.81. The firm has a 50-day moving average price of $254.45 and a 200 day moving average price of $257.60.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, January 29th. The medical equipment provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.13. ResMed had a return on equity of 25.20% and a net margin of 27.53%.The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period in the prior year, the company posted $2.43 EPS. The company’s revenue was up 11.0% compared to the same quarter last year. Research analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Thursday, February 12th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Thursday, February 12th. ResMed’s dividend payout ratio is currently 23.74%.

Wall Street Analysts Forecast Growth

RMD has been the topic of several recent analyst reports. Weiss Ratings raised shares of ResMed from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. Wall Street Zen lowered ResMed from a “buy” rating to a “hold” rating in a research note on Saturday. KeyCorp reaffirmed an “overweight” rating and issued a $302.00 price objective on shares of ResMed in a research report on Friday, January 30th. Piper Sandler increased their target price on ResMed from $270.00 to $275.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. Finally, UBS Group reissued a “buy” rating and issued a $345.00 price target on shares of ResMed in a research note on Friday, December 12th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $299.27.

Insider Activity at ResMed

In other news, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $251.03, for a total value of $1,252,890.73. Following the transaction, the chief executive officer directly owned 466,223 shares of the company’s stock, valued at $117,035,959.69. The trade was a 1.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $260.22, for a total value of $520,440.00. Following the sale, the director owned 62,773 shares in the company, valued at approximately $16,334,790.06. This trade represents a 3.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 21,073 shares of company stock valued at $5,405,198. Company insiders own 0.65% of the company’s stock.

ResMed Company Profile

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.