KBC Group NV Has $57.23 Million Position in ResMed Inc. $RMD

Key Points

• KBC Group NV boosted its stake in ResMed by 126.9% in the fourth quarter to 237,604 shares, a position worth about $57.23 million (≈0.16% ownership).
• ResMed beat quarterly EPS estimates ($2.81 vs. $2.68) and reported revenue of $1.42 billion, up 11% year-over-year; the stock trades at a PE of 22.23 with a market cap near $32.7 billion.
• Insiders have been selling (21,023 shares, ≈$5.23 million, in the last 90 days, including the CEO and a director), while analysts' consensus is a Moderate Buy with an average price target of $295.17.

KBC Group NV boosted its stake in shares of ResMed Inc. (NYSE:RMD - Free Report) by 126.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 237,604 shares of the medical equipment provider's stock after purchasing an additional 132,868 shares during the quarter. KBC Group NV owned about 0.16% of ResMed worth $57,232,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in RMD. Jones Financial Companies Lllp boosted its position in ResMed by 52.6% during the first quarter. Jones Financial Companies Lllp now owns 2,882 shares of the medical equipment provider's stock worth $645,000 after purchasing an additional 994 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in ResMed during the second quarter worth approximately $389,000. Brown Advisory Inc. boosted its position in ResMed by 17.8% during the second quarter. Brown Advisory Inc. now owns 1,586 shares of the medical equipment provider's stock worth $409,000 after purchasing an additional 240 shares during the period. Cresset Asset Management LLC bought a new stake in ResMed during the second quarter worth approximately $206,000. Finally, Alliancebernstein L.P. boosted its position in ResMed by 24.2% during the second quarter. Alliancebernstein L.P. now owns 286,078 shares of the medical equipment provider's stock worth $73,808,000 after purchasing an additional 55,790 shares during the period. Institutional investors own 54.98% of the company's stock.

ResMed Stock Down 1.8%

Shares of RMD stock opened at $224.76 on Friday. ResMed Inc. has a 12 month low of $202.00 and a 12 month high of $293.81. The firm has a market cap of $32.74 billion, a PE ratio of 22.23, a price-to-earnings-growth ratio of 1.51 and a beta of 0.93. The stock has a 50 day moving average of $241.17 and a 200-day moving average of $250.63. The company has a quick ratio of 2.32, a current ratio of 3.06 and a debt-to-equity ratio of 0.06.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings results on Friday, January 30th. The medical equipment provider reported $2.81 EPS for the quarter, topping analysts' consensus estimates of $2.68 by $0.13. ResMed had a return on equity of 25.20% and a net margin of 27.53%.The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period in the previous year, the company earned $2.43 earnings per share. The company's quarterly revenue was up 11.0% compared to the same quarter last year. On average, equities analysts predict that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Thursday, February 12th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Thursday, February 12th. ResMed's dividend payout ratio is presently 23.74%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Evercore set a $255.00 target price on ResMed and gave the stock an "outperform" rating in a research report on Monday. Citigroup decreased their target price on ResMed from $345.00 to $340.00 and set a "buy" rating for the company in a research report on Thursday, April 9th. JPMorgan Chase & Co. assumed coverage on ResMed in a research report on Wednesday. They set an "overweight" rating for the company. Robert W. Baird set a $281.00 target price on ResMed in a research report on Friday, January 30th. Finally, Stifel Nicolaus upped their target price on ResMed from $260.00 to $265.00 and gave the stock a "hold" rating in a research report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $295.17.

Insiders Place Their Bets

In related news, Director Peter C. Farrell sold 2,000 shares of the company's stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $225.00, for a total value of $450,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael J. Farrell sold 4,991 shares of the company's stock in a transaction on Monday, February 9th. The shares were sold at an average price of $273.78, for a total value of $1,366,435.98. Following the completion of the transaction, the chief executive officer owned 466,223 shares of the company's stock, valued at $127,642,532.94. The trade was a 1.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 21,023 shares of company stock valued at $5,230,857 over the last 90 days. 0.65% of the stock is currently owned by corporate insiders.

ResMed 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.

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