BI Asset Management Fondsmaeglerselskab A S Reduces Stock Position in ResMed Inc. $RMD

Key Points

• BI Asset Management Fondsmaeglerselskab A S cut its ResMed stake by 14.6% in the fourth quarter, selling 10,686 shares and ending with 62,362 shares valued at about $15.0 million.
• ResMed beat quarterly expectations, reporting EPS of $2.86 versus $2.79 expected and revenue of $1.43 billion, up 10.8% year over year.
• The company also announced a quarterly dividend of $0.60 per share, equivalent to $2.40 annually and a 1.2% yield, while analysts maintain a consensus Moderate Buy rating.

BI Asset Management Fondsmaeglerselskab A S lowered its position in shares of ResMed Inc. (NYSE:RMD - Free Report) by 14.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 62,362 shares of the medical equipment provider's stock after selling 10,686 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in ResMed were worth $15,021,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Imprint Wealth LLC purchased a new stake in ResMed during the 3rd quarter valued at $26,000. WFA of San Diego LLC purchased a new stake in ResMed during the 2nd quarter valued at $26,000. International Assets Investment Management LLC purchased a new stake in ResMed during the 4th quarter valued at $25,000. ORG Partners LLC boosted its position in ResMed by 181.6% during the 4th quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider's stock valued at $26,000 after buying an additional 69 shares during the period. Finally, Sunbelt Securities Inc. purchased a new stake in shares of ResMed in the 3rd quarter worth about $31,000. Hedge funds and other institutional investors own 54.98% of the company's stock.

ResMed Price Performance

Shares of NYSE:RMD opened at $195.95 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.01 and a quick ratio of 2.33. ResMed Inc. has a 1-year low of $180.26 and a 1-year high of $293.81. The company has a market capitalization of $28.42 billion, a P/E ratio of 18.90, a P/E/G ratio of 1.25 and a beta of 0.80. The firm's 50 day simple moving average is $213.11 and its two-hundred day simple moving average is $237.21.

ResMed (NYSE:RMD - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.07. The firm had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.42 billion. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The company's revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.37 earnings per share. Research analysts expect that ResMed Inc. will post 11.13 EPS for the current fiscal year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th will be given a dividend of $0.60 per share. The ex-dividend date is Thursday, May 14th. This represents a $2.40 annualized dividend and a dividend yield of 1.2%. ResMed's dividend payout ratio (DPR) is presently 23.14%.

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 Thursday, May 7th. The shares were sold at an average price of $207.82, for a total value of $1,037,229.62. Following the sale, the chief executive officer owned 466,223 shares in the company, valued at approximately $96,890,463.86. The trade was a 1.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 2,000 shares of the business's stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $225.00, for a total transaction of $450,000.00. The disclosure for this sale is available in the SEC filing. Insiders sold 16,973 shares of company stock worth $3,865,591 in the last 90 days. 0.65% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on RMD shares. Evercore set a $255.00 target price on shares of ResMed and gave the stock an "outperform" rating in a research report on Monday, April 13th. Royal Bank Of Canada increased their price target on shares of ResMed from $314.00 to $321.00 and gave the stock an "outperform" rating in a research note on Friday, May 1st. Robert W. Baird set a $225.00 price target on shares of ResMed in a research note on Friday, May 1st. Wall Street Zen lowered shares of ResMed from a "buy" rating to a "hold" rating in a research note on Saturday, March 14th. Finally, Citigroup decreased their price target on shares of ResMed from $345.00 to $340.00 and set a "buy" rating for the company in a research note on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $286.18.

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.

Want to see what other hedge funds are holding RMD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ResMed Inc. (NYSE:RMD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.