Lbp Am Sa Buys 18,142 Shares of ResMed Inc. $RMD

Key Points

• Lbp Am Sa boosted its stake in ResMed by 364.1% in Q4, acquiring 18,142 shares to own 23,125 shares worth about $5.57 million.
• Insiders have sold 21,023 shares (~$5.23 million) in the past three months, including CEO Michael J. Farrell's sale of 4,991 shares, leaving insiders with about 0.65% ownership.
• ResMed topped Q results with EPS of $2.81 vs. $2.68 and revenue of $1.42B (up 11% YoY), and the sell‑side consensus is a Moderate Buy with a $295.17 target price.

Lbp Am Sa boosted its stake in shares of ResMed Inc. (NYSE:RMD - Free Report) by 364.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,125 shares of the medical equipment provider's stock after acquiring an additional 18,142 shares during the quarter. Lbp Am Sa's holdings in ResMed were worth $5,570,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Landscape Capital Management L.L.C. increased its stake in ResMed by 123.2% during the third quarter. Landscape Capital Management L.L.C. now owns 49,017 shares of the medical equipment provider's stock worth $13,417,000 after acquiring an additional 27,060 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of ResMed by 37.2% during the fourth quarter. Nordea Investment Management AB now owns 1,084,996 shares of the medical equipment provider's stock valued at $262,027,000 after buying an additional 294,124 shares during the period. Allianz Asset Management GmbH boosted its position in shares of ResMed by 44.8% during the third quarter. Allianz Asset Management GmbH now owns 357,421 shares of the medical equipment provider's stock valued at $97,837,000 after buying an additional 110,647 shares during the period. Russell Investments Group Ltd. boosted its position in shares of ResMed by 20.2% during the third quarter. Russell Investments Group Ltd. now owns 112,755 shares of the medical equipment provider's stock valued at $30,847,000 after buying an additional 18,966 shares during the period. Finally, WCM Investment Management LLC purchased a new position in shares of ResMed during the third quarter valued at approximately $3,110,000. 54.98% of the stock is owned by institutional investors.

Insider Activity at ResMed

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

Analysts Set New Price Targets

Several research analysts have issued reports on RMD shares. Wells Fargo & Company boosted their target price on ResMed from $265.00 to $270.00 and gave the company an "equal weight" rating in a research report on Friday, January 30th. Royal Bank Of Canada boosted their target price on ResMed from $311.00 to $314.00 and gave the company an "outperform" rating in a research report on Friday, January 30th. Weiss Ratings lowered ResMed from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, March 19th. Stifel Nicolaus boosted their target price on ResMed from $260.00 to $265.00 and gave the company a "hold" rating in a research report on Friday, January 30th. Finally, Piper Sandler boosted their target price on ResMed from $270.00 to $275.00 and gave the company a "neutral" rating in a research report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, ResMed currently has a consensus rating of "Moderate Buy" and a consensus target price of $295.17.

ResMed Stock Up 1.4%

Shares of NYSE:RMD opened at $227.89 on Friday. ResMed Inc. has a 52-week low of $209.31 and a 52-week high of $293.81. The stock has a market cap of $33.20 billion, a P/E ratio of 22.54, a price-to-earnings-growth ratio of 1.48 and a beta of 0.93. The business's 50 day moving average is $240.29 and its 200 day moving average is $250.33. 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 announced its quarterly earnings data on Friday, January 30th. The medical equipment provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $1.40 billion. During the same quarter in the prior year, the firm earned $2.43 earnings per share. ResMed's revenue was up 11.0% compared to the same quarter last year. Sell-side analysts predict that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

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

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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