Generali Asset Management SPA SGR Sells 2,680 Shares of ResMed Inc. $RMD

Key Points

• Generali Asset Management SPA SGR reduced its holdings in ResMed Inc. by 21.1%, selling 2,680 shares in the second quarter, leaving it with 10,015 shares valued at approximately $2.58 million.
• Recent institutional activity includes OVERSEA CHINESE BANKING Corp Ltd increasing its stake by 1,168.5% and Allianz Asset Management boosting its position by 334.0%, reflecting strong interest in ResMed.
• ResMed's quarterly earnings report exceeded expectations, with $1.35 billion in revenue, marking a 10.2% year-over-year growth, and the company recently announced a dividend increase from $0.53 to $0.60 per share.

Generali Asset Management SPA SGR decreased its holdings in shares of ResMed Inc. (NYSE:RMD - Free Report) by 21.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,015 shares of the medical equipment provider's stock after selling 2,680 shares during the period. Generali Asset Management SPA SGR's holdings in ResMed were worth $2,584,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in RMD. OVERSEA CHINESE BANKING Corp Ltd boosted its stake in ResMed by 1,168.5% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 590,895 shares of the medical equipment provider's stock valued at $132,272,000 after buying an additional 544,311 shares during the period. Allianz Asset Management GmbH boosted its stake in ResMed by 334.0% during the first quarter. Allianz Asset Management GmbH now owns 455,124 shares of the medical equipment provider's stock valued at $101,880,000 after buying an additional 350,245 shares during the period. Swedbank AB boosted its stake in ResMed by 445.1% during the first quarter. Swedbank AB now owns 397,319 shares of the medical equipment provider's stock valued at $88,940,000 after buying an additional 324,428 shares during the period. Vanguard Group Inc. raised its position in ResMed by 1.8% during the first quarter. Vanguard Group Inc. now owns 18,493,702 shares of the medical equipment provider's stock valued at $4,139,815,000 after purchasing an additional 320,240 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in ResMed during the first quarter valued at about $69,492,000. Institutional investors own 54.98% of the company's stock.

Insider Activity at ResMed

In related news, CEO Michael J. Farrell sold 8,009 shares of the business's stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $282.85, for a total transaction of $2,265,345.65. Following the transaction, the chief executive officer owned 467,792 shares in the company, valued at $132,314,967.20. The trade was a 1.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John Hernandez sold 2,575 shares of the business's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $287.10, for a total value of $739,282.50. Following the transaction, the director owned 4,045 shares in the company, valued at approximately $1,161,319.50. This represents a 38.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,743 shares of company stock worth $5,284,514 in the last 90 days. Company insiders own 0.65% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on RMD shares. Mizuho raised their price target on ResMed from $270.00 to $290.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Weiss Ratings restated a "buy (b-)" rating on shares of ResMed in a research report on Wednesday, October 8th. Royal Bank Of Canada raised their price target on ResMed from $294.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. UBS Group upgraded ResMed to a "strong-buy" rating in a research report on Tuesday, September 16th. Finally, Citigroup started coverage on ResMed in a research report on Thursday, September 18th. They set a "buy" rating and a $330.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $292.91.

ResMed Stock Up 0.1%

RMD opened at $270.05 on Friday. The company has a market cap of $39.41 billion, a P/E ratio of 28.40, a P/E/G ratio of 1.80 and a beta of 0.83. The business's 50-day moving average price is $277.46 and its 200-day moving average price is $256.81. The company has a current ratio of 3.44, a quick ratio of 2.53 and a debt-to-equity ratio of 0.11. ResMed Inc. has a 12 month low of $199.92 and a 12 month high of $293.81.

ResMed (NYSE:RMD - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The medical equipment provider reported $2.55 EPS for the quarter, topping the consensus estimate of $2.47 by $0.08. ResMed had a return on equity of 25.62% and a net margin of 27.22%.The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the previous year, the business earned $2.08 earnings per share. The company's quarterly revenue was up 10.2% on a year-over-year basis. On average, equities analysts expect that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, August 14th were issued a dividend of $0.60 per share. The ex-dividend date was Thursday, August 14th. This represents a $2.40 dividend on an annualized basis and a yield of 0.9%. This is a boost 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.

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