ResMed Inc. $RMD Shares Sold by BNP PARIBAS ASSET MANAGEMENT Holding S.A.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lessened its position in ResMed Inc. (NYSE:RMD) by 17.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 193,938 shares of the medical equipment provider’s stock after selling 41,123 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned approximately 0.13% of ResMed worth $52,659,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. SJS Investment Consulting Inc. grew its position in ResMed by 1,433.3% in the 3rd quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 86 shares during the last quarter. WFA of San Diego LLC acquired a new position in shares of ResMed during the second quarter worth approximately $26,000. Westside Investment Management Inc. boosted its position in shares of ResMed by 100.0% during the third quarter. Westside Investment Management Inc. now owns 132 shares of the medical equipment provider’s stock worth $36,000 after buying an additional 66 shares during the period. GoalVest Advisory LLC acquired a new position in ResMed during the 3rd quarter worth $37,000. Finally, IMA Advisory Services Inc. increased its holdings in shares of ResMed by 52.7% during the third quarter. IMA Advisory Services Inc. now owns 139 shares of the medical equipment provider’s stock valued at $38,000 after purchasing an additional 48 shares during the period. 54.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on RMD. Morgan Stanley set a $305.00 price objective on shares of ResMed in a report on Friday, October 31st. KeyCorp restated an “overweight” rating and set a $302.00 price target on shares of ResMed in a research report on Friday, January 30th. Royal Bank Of Canada increased their price objective on shares of ResMed from $311.00 to $314.00 and gave the company an “outperform” rating in a report on Friday, January 30th. Citigroup raised their price objective on shares of ResMed from $330.00 to $345.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Finally, Robert W. Baird set a $281.00 target price on ResMed in a research report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $299.27.

ResMed Stock Performance

ResMed stock opened at $256.23 on Friday. ResMed Inc. has a fifty-two week low of $199.92 and a fifty-two week high of $293.81. The firm’s 50 day simple moving average is $253.02 and its 200-day simple moving average is $262.37. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.06 and a quick ratio of 2.32. The company has a market cap of $37.33 billion, a P/E ratio of 25.34, a price-to-earnings-growth ratio of 1.72 and a beta of 0.87.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, January 29th. The medical equipment provider reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.13. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter last year, the business posted $2.43 EPS. The company’s revenue was up 11.0% on a year-over-year basis. As a group, equities research analysts predict that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

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

Insider Activity

In related news, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction dated Wednesday, January 7th. The stock was 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 approximately $115,837,766.58. This represents a 1.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Witte Jan De sold 2,055 shares of ResMed stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $255.00, for a total value of $524,025.00. Following the transaction, the director directly owned 4,261 shares in the company, valued at approximately $1,086,555. This trade represents a 32.54% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 18,137 shares of company stock worth $4,658,832. 0.65% of the stock is owned by corporate insiders.

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.