ResMed Inc. (NYSE:RMD) Shares Acquired by BNP PARIBAS ASSET MANAGEMENT Holding S.A.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of ResMed Inc. (NYSE:RMD) by 233.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 74,369 shares of the medical equipment provider’s stock after purchasing an additional 52,046 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned about 0.05% of ResMed worth $18,155,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. iA Global Asset Management Inc. purchased a new position in ResMed in the 1st quarter valued at approximately $3,055,000. Versor Investments LP increased its position in shares of ResMed by 327.3% in the second quarter. Versor Investments LP now owns 4,700 shares of the medical equipment provider’s stock valued at $900,000 after buying an additional 3,600 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of ResMed by 245.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 33,507 shares of the medical equipment provider’s stock worth $6,414,000 after buying an additional 23,801 shares during the last quarter. Addenda Capital Inc. boosted its position in shares of ResMed by 17.4% in the 2nd quarter. Addenda Capital Inc. now owns 58,986 shares of the medical equipment provider’s stock worth $11,291,000 after buying an additional 8,747 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its position in shares of ResMed by 5.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 58,860 shares of the medical equipment provider’s stock worth $14,369,000 after buying an additional 2,878 shares in the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

ResMed Stock Up 0.1 %

Shares of NYSE:RMD opened at $243.78 on Friday. The company has a 50 day moving average of $241.86 and a two-hundred day moving average of $224.42. ResMed Inc. has a 52-week low of $151.95 and a 52-week high of $260.49. 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 company has a market capitalization of $35.79 billion, a price-to-earnings ratio of 32.29, a price-to-earnings-growth ratio of 1.73 and a beta of 0.69.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 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 business 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 earnings per share. The company’s revenue was up 11.1% compared to the same quarter last year. As a group, analysts forecast that ResMed Inc. will post 9.28 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Thursday, November 7th. ResMed’s dividend payout ratio is presently 28.08%.

Insiders Place Their Bets

In other ResMed news, Director Witte Jan De sold 796 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total transaction of $198,052.76. Following the transaction, the director now owns 6,723 shares of the company’s stock, valued at approximately $1,672,749.63. This trade represents a 10.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kaushik Ghoshal sold 5,000 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $252.56, for a total value of $1,262,800.00. Following the completion of the sale, the insider now directly owns 21,788 shares in the company, valued at $5,502,777.28. This represents a 18.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 62,174 shares of company stock valued at $14,882,278 in the last quarter. Insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Robert W. Baird lifted their target price on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. KeyCorp lifted their price objective on ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a report on Friday, October 25th. Wolfe Research reissued an “underperform” rating and issued a $180.00 price target on shares of ResMed in a report on Wednesday, September 18th. Finally, Baird R W raised ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $225.70.

ResMed Company Profile

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.