BNP Paribas Financial Markets Has $62.76 Million Holdings in ResMed Inc. (NYSE:RMD)

BNP Paribas Financial Markets grew its position in ResMed Inc. (NYSE:RMD - Free Report) by 61.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 274,417 shares of the medical equipment provider's stock after buying an additional 104,377 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.19% of ResMed worth $62,756,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in RMD. World Investment Advisors LLC acquired a new stake in ResMed during the 3rd quarter valued at $541,000. Wilmington Savings Fund Society FSB purchased a new stake in ResMed in the 3rd quarter worth about $193,000. Franklin Resources Inc. boosted its position in ResMed by 56.5% during the 3rd quarter. Franklin Resources Inc. now owns 174,113 shares of the medical equipment provider's stock worth $41,909,000 after acquiring an additional 62,882 shares during the period. Principal Financial Group Inc. grew its stake in ResMed by 2.9% during the 3rd quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider's stock valued at $45,596,000 after acquiring an additional 5,284 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in shares of ResMed by 92.7% in the 4th quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider's stock valued at $103,214,000 after purchasing an additional 215,561 shares during the period. 54.98% of the stock is owned by hedge funds and other institutional investors.

ResMed Stock Performance

Shares of NYSE RMD opened at $242.18 on Wednesday. The firm has a market capitalization of $35.51 billion, a price-to-earnings ratio of 28.59, a PEG ratio of 1.53 and a beta of 0.78. ResMed Inc. has a one year low of $179.42 and a one year high of $263.05. The business has a fifty day simple moving average of $222.67 and a 200 day simple moving average of $233.97. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, topping analysts' consensus estimates of $2.36 by $0.01. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. ResMed had a net margin of 25.34% and a return on equity of 26.17%. The firm's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the firm earned $2.13 EPS. Sell-side analysts expect that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th will be paid a $0.53 dividend. The ex-dividend date is Thursday, May 8th. This represents a $2.12 annualized dividend and a dividend yield of 0.88%. ResMed's dividend payout ratio is currently 23.79%.

Analysts Set New Price Targets

RMD has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of ResMed from $286.00 to $290.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Citigroup raised shares of ResMed from a "neutral" rating to a "buy" rating in a research note on Wednesday, March 5th. Morgan Stanley began coverage on ResMed in a research note on Wednesday, March 19th. They issued an "overweight" rating and a $280.00 target price on the stock. KeyCorp set a $274.00 price target on ResMed in a research note on Thursday, April 24th. Finally, Mizuho set a $265.00 price objective on ResMed in a report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $258.83.

Insider Buying and Selling

In other ResMed news, insider Kaushik Ghoshal sold 9,745 shares of ResMed stock in a transaction on Monday, March 10th. The stock was sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the completion of the transaction, the insider now directly owns 9,725 shares of the company's stock, valued at approximately $2,327,289.75. This trade represents a 50.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael J. Farrell sold 8,009 shares of the company's stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the completion of the sale, the chief executive officer now directly owns 455,472 shares in the company, valued at approximately $107,842,105.44. The trade was a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,949 shares of company stock worth $10,799,082 in the last 90 days. 0.71% of the stock is owned by company insiders.

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.

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