BNP PARIBAS ASSET MANAGEMENT Holding S.A. Increases Stake in ResMed Inc. $RMD

Key Points

• BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in ResMed Inc. by 2.9%, owning 203,871 shares valued at approximately $45.6 million.
• Several institutional investors, including Ballentine Partners LLC and Golden State Wealth Management LLC, have added significant stakes in ResMed, showing a general trend of growing institutional interest.
• ResMed has raised its quarterly dividend from $0.53 to $0.60 per share, indicating a commitment to returning value to shareholders.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in ResMed Inc. (NYSE:RMD - Free Report) by 2.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 203,871 shares of the medical equipment provider's stock after acquiring an additional 5,723 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned approximately 0.14% of ResMed worth $45,636,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Global X Japan Co. Ltd. raised its holdings in ResMed by 121.4% in the 1st quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider's stock valued at $28,000 after buying an additional 68 shares during the last quarter. Colonial Trust Co SC raised its holdings in ResMed by 6,250.0% in the 4th quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider's stock valued at $29,000 after buying an additional 125 shares during the last quarter. Optiver Holding B.V. bought a new position in ResMed in the 4th quarter valued at approximately $33,000. Golden State Wealth Management LLC raised its holdings in ResMed by 384.8% in the 1st quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider's stock valued at $36,000 after buying an additional 127 shares during the last quarter. Finally, Itau Unibanco Holding S.A. increased its position in ResMed by 1,000.0% during the 4th quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider's stock valued at $38,000 after purchasing an additional 150 shares during the period. Institutional investors own 54.98% of the company's stock.

Insider Buying and Selling

In related news, Director Peter C. Farrell sold 945 shares of ResMed stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $255.49, for a total value of $241,438.05. Following the completion of the sale, the director owned 68,273 shares of the company's stock, valued at approximately $17,443,068.77. This trade represents a 1.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John Hernandez sold 2,575 shares of ResMed stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $287.10, for a total value of $739,282.50. Following the completion of the sale, the director directly owned 4,045 shares of the company's stock, valued at approximately $1,161,319.50. This trade represents a 38.90% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,638 shares of company stock valued at $7,311,177. 0.71% of the stock is owned by insiders.

Wall Street Analyst Weigh In

RMD has been the subject of a number of recent analyst reports. Stifel Nicolaus increased their target price on shares of ResMed from $240.00 to $270.00 and gave the company a "hold" rating in a research report on Friday, August 1st. KeyCorp raised their price objective on shares of ResMed from $274.00 to $298.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Morgan Stanley set a $286.00 price objective on shares of ResMed and gave the stock an "overweight" rating in a research report on Tuesday, May 20th. Wall Street Zen downgraded shares of ResMed from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th. Finally, UBS Group lifted their price target on shares of ResMed from $285.00 to $325.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, ResMed has a consensus rating of "Moderate Buy" and a consensus price target of $274.83.

ResMed Stock Performance

Shares of NYSE RMD traded up $2.9890 during mid-day trading on Wednesday, reaching $289.0290. 812,492 shares of the company's stock were exchanged, compared to its average volume of 1,154,322. The firm has a market capitalization of $42.32 billion, a price-to-earnings ratio of 30.39, a price-to-earnings-growth ratio of 1.92 and a beta of 0.77. ResMed Inc. has a 52 week low of $199.92 and a 52 week high of $293.08. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.44 and a quick ratio of 2.53. The firm has a 50-day moving average price of $266.30 and a two-hundred day moving average price of $243.84.

ResMed (NYSE:RMD - Get Free Report) last released its earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 EPS for the quarter, topping analysts' consensus estimates of $2.47 by $0.08. The company had revenue of $1.35 billion for the quarter, compared to analysts' expectations of $1.33 billion. ResMed had a return on equity of 25.62% and a net margin of 27.22%.The business's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.08 EPS. Analysts predict that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, August 14th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Wednesday, August 13th. This is a positive change from ResMed's previous quarterly dividend of $0.53. ResMed's dividend payout ratio (DPR) is presently 25.24%.

ResMed 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.