KBC Group NV Increases Holdings in ResMed Inc. (NYSE:RMD)

KBC Group NV increased its stake in shares of ResMed Inc. (NYSE:RMD) by 255.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 72,731 shares of the medical equipment provider’s stock after purchasing an additional 52,259 shares during the quarter. KBC Group NV’s holdings in ResMed were worth $17,756,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Empowered Funds LLC increased its position in ResMed by 88.8% during the 1st quarter. Empowered Funds LLC now owns 2,764 shares of the medical equipment provider’s stock valued at $547,000 after purchasing an additional 1,300 shares during the period. Sei Investments Co. raised its position in ResMed by 12.9% during the 1st quarter. Sei Investments Co. now owns 21,708 shares of the medical equipment provider’s stock worth $4,299,000 after buying an additional 2,484 shares during the last quarter. QRG Capital Management Inc. purchased a new position in shares of ResMed during the first quarter worth $245,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of ResMed by 9.1% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 17,262 shares of the medical equipment provider’s stock valued at $3,418,000 after buying an additional 1,447 shares during the period. Finally, Dorsey & Whitney Trust CO LLC lifted its holdings in ResMed by 3.7% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 1,473 shares of the medical equipment provider’s stock valued at $292,000 after acquiring an additional 52 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Baird R W raised ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research report on Friday, October 25th. Robert W. Baird upped their target price on ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Royal Bank of Canada raised their price target on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Finally, StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ResMed has an average rating of “Moderate Buy” and a consensus target price of $225.70.

Insider Buying and Selling at ResMed

In other ResMed news, insider Kaushik Ghoshal sold 5,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $252.56, for a total value of $1,262,800.00. Following the transaction, the insider now directly owns 21,788 shares in the company, valued at approximately $5,502,777.28. This represents a 18.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael J. Farrell sold 14,683 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $248.38, for a total transaction of $3,646,963.54. Following the sale, the chief executive officer now directly owns 464,169 shares in the company, valued at $115,290,296.22. This represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 63,056 shares of company stock worth $15,086,020. 0.71% of the stock is owned by corporate insiders.

ResMed Stock Performance

NYSE RMD opened at $234.77 on Friday. ResMed Inc. has a 52-week low of $147.39 and a 52-week high of $260.49. The business’s 50-day moving average price is $243.03 and its 200 day moving average price is $223.42. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The firm has a market cap of $34.46 billion, a P/E ratio of 30.99, a P/E/G ratio of 1.71 and a beta of 0.69.

ResMed (NYSE:RMD) last released its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.17. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the previous year, the firm posted $1.64 EPS. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. On average, equities research analysts expect that ResMed Inc. will post 9.28 earnings per share for the current year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date is Thursday, November 7th. ResMed’s dividend payout ratio is currently 28.08%.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.