Assenagon Asset Management S.A. Has $19.43 Million Stock Holdings in ResMed Inc. $RMD

Assenagon Asset Management S.A. lifted its holdings in ResMed Inc. (NYSE:RMD) by 136.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 80,669 shares of the medical equipment provider’s stock after buying an additional 46,596 shares during the quarter. Assenagon Asset Management S.A. owned about 0.06% of ResMed worth $19,431,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. SJS Investment Consulting Inc. grew its holdings in ResMed by 1,433.3% during the 3rd quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 86 shares during the last quarter. Imprint Wealth LLC bought a new position in shares of ResMed in the third quarter worth about $26,000. WFA of San Diego LLC bought a new position in shares of ResMed in the second quarter worth about $26,000. Sunbelt Securities Inc. acquired a new position in shares of ResMed during the third quarter worth approximately $31,000. Finally, Westside Investment Management Inc. lifted 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 purchasing an additional 66 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Analysts Set New Price Targets

RMD has been the subject of a number of research reports. Weiss Ratings lowered shares of ResMed from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, March 19th. Stifel Nicolaus upped their price objective on ResMed from $260.00 to $265.00 and gave the stock a “hold” rating in a report on Friday, January 30th. UBS Group reiterated a “buy” rating and issued a $345.00 price objective on shares of ResMed in a research report on Friday, December 12th. Wall Street Zen cut ResMed from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Finally, Citigroup boosted their target price on ResMed from $330.00 to $345.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $299.27.

ResMed Trading Down 1.8%

RMD opened at $222.22 on Friday. The firm has a 50 day simple moving average of $250.50 and a 200 day simple moving average of $255.56. ResMed Inc. has a fifty-two week low of $199.92 and a fifty-two week high of $293.81. The company has a market cap of $32.37 billion, a price-to-earnings ratio of 21.98, a price-to-earnings-growth ratio of 1.50 and a beta of 0.88. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.06 and a quick ratio of 2.32.

ResMed (NYSE:RMD) last released its earnings results on Friday, January 30th. The medical equipment provider reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.13. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.43 EPS. On average, sell-side analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Thursday, February 12th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, February 12th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.1%. ResMed’s payout ratio is 23.74%.

Insider Transactions at ResMed

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

ResMed 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.