BLI Banque de Luxembourg Investments Cuts Stake in ResMed Inc. $RMD

BLI Banque de Luxembourg Investments lowered its stake in shares of ResMed Inc. (NYSE:RMD - Free Report) by 13.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 215,489 shares of the medical equipment provider's stock after selling 34,798 shares during the period. ResMed comprises 1.5% of BLI Banque de Luxembourg Investments' investment portfolio, making the stock its 16th biggest position. BLI Banque de Luxembourg Investments owned about 0.15% of ResMed worth $52,390,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in shares of ResMed during the fourth quarter worth about $25,000. ORG Partners LLC grew its stake 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 acquiring an additional 69 shares in the last quarter. Imprint Wealth LLC purchased a new stake in ResMed during the 3rd quarter valued at about $26,000. WFA of San Diego LLC purchased a new stake in ResMed during the 2nd quarter valued at about $26,000. Finally, Sunbelt Securities Inc. purchased a new stake in ResMed during the 3rd quarter valued at about $31,000. Hedge funds and other institutional investors own 54.98% of the company's stock.

ResMed Stock Performance

NYSE:RMD opened at $193.35 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.01 and a quick ratio of 2.33. The firm has a market capitalization of $28.05 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 1.25 and a beta of 0.80. The company's 50-day moving average is $212.53 and its two-hundred day moving average is $236.78. ResMed Inc. has a 1-year low of $180.26 and a 1-year high of $293.81.

ResMed (NYSE:RMD - Get Free Report) last posted 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. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.42 billion. ResMed had a net margin of 27.44% and a return on equity of 25.35%. ResMed's revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.37 EPS. Analysts forecast that ResMed Inc. will post 11.13 EPS for the current year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, May 14th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.2%. The ex-dividend date is Thursday, May 14th. ResMed's payout ratio is presently 23.14%.

Insider Activity

In other news, CEO Michael J. Farrell sold 4,991 shares of the company's stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 466,223 shares in the company, valued at approximately $96,890,463.86. This represents a 1.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 company's stock in a transaction that occurred 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 a total of 11,982 shares of company stock worth $2,612,700 over the last quarter. 0.65% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Evercore set a $255.00 price objective on shares of ResMed and gave the company an "outperform" rating in a research note on Monday, April 13th. Royal Bank Of Canada upped their price objective on shares of ResMed from $314.00 to $321.00 and gave the company an "outperform" rating in a research note on Friday, May 1st. Wall Street Zen cut shares of ResMed from a "buy" rating to a "hold" rating in a research note on Saturday, March 14th. JPMorgan Chase & Co. assumed coverage on shares of ResMed in a research note on Wednesday, April 15th. They set an "overweight" rating for the company. Finally, Weiss Ratings cut shares of ResMed from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $286.18.

About ResMed

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.

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