Baader Bank Aktiengesellschaft Trims Position in ResMed Inc. $RMD

Baader Bank Aktiengesellschaft decreased its stake in shares of ResMed Inc. (NYSE:RMD) by 61.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,768 shares of the medical equipment provider’s stock after selling 7,696 shares during the quarter. Baader Bank Aktiengesellschaft’s holdings in ResMed were worth $1,045,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in RMD. Jones Financial Companies Lllp raised its stake in shares of ResMed by 52.6% during the first quarter. Jones Financial Companies Lllp now owns 2,882 shares of the medical equipment provider’s stock valued at $645,000 after acquiring an additional 994 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in ResMed in the second quarter worth approximately $389,000. Brown Advisory Inc. increased its holdings in ResMed by 17.8% during the 2nd quarter. Brown Advisory Inc. now owns 1,586 shares of the medical equipment provider’s stock worth $409,000 after purchasing an additional 240 shares during the period. Cresset Asset Management LLC purchased a new position in ResMed during the 2nd quarter worth $206,000. Finally, Alliancebernstein L.P. raised its position in ResMed by 24.2% during the 2nd quarter. Alliancebernstein L.P. now owns 286,078 shares of the medical equipment provider’s stock valued at $73,808,000 after purchasing an additional 55,790 shares in the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

ResMed Trading Down 0.2%

NYSE RMD opened at $198.55 on Tuesday. The company has a quick ratio of 2.33, a current ratio of 3.01 and a debt-to-equity ratio of 0.06. The firm has a market cap of $28.80 billion, a PE ratio of 19.15, a price-to-earnings-growth ratio of 1.19 and a beta of 0.78. The company has a 50 day moving average price of $199.39 and a 200 day moving average price of $226.21. ResMed Inc. has a 52 week low of $180.26 and a 52 week high of $293.81.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.79 by $0.07. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period last year, the firm earned $2.37 earnings per share. ResMed’s revenue was up 10.8% compared to the same quarter last year. As a group, sell-side analysts forecast that ResMed Inc. will post 11.13 EPS for the current fiscal year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Thursday, May 14th. ResMed’s dividend payout ratio is currently 23.14%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on RMD. Mizuho lowered their target price on ResMed from $235.00 to $220.00 and set an “outperform” rating for the company in a report on Wednesday, July 15th. Evercore set a $255.00 price target on ResMed and gave the company an “outperform” rating in a research note on Monday, April 13th. The Goldman Sachs Group restated a “buy” rating on shares of ResMed in a report on Wednesday, July 1st. Royal Bank Of Canada lowered shares of ResMed from an “outperform” rating to a “sector perform” rating and set a $234.00 price objective for the company. in a research note on Thursday. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $230.00 target price (down from $286.00) on shares of ResMed in a report on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $250.00.

Insider Buying and Selling at ResMed

In related news, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $218.55, for a total transaction of $1,090,783.05. Following the transaction, the chief executive officer directly owned 466,223 shares in the company, valued at $101,893,036.65. The trade was a 1.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 14,973 shares of company stock valued at $3,096,067. 0.65% of the stock is owned by company 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.