ResMed Inc. $RMD Shares Sold by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management B.V. cut its stake in ResMed by 15.6% in Q4, selling 11,194 shares and leaving it with 60,661 shares valued at about $14.6 million.
• Company insiders have been selling recently—Director Peter C. Farrell sold 2,000 shares and CEO Michael J. Farrell sold 4,991 shares (part of a 90‑day total of 21,023 shares sold worth ~$5.23 million), though the CEO still holds 466,223 shares.
• ResMed posted an earnings beat (Q EPS $2.81 vs. $2.68; revenue $1.42B, +11% YoY) and analysts maintain a consensus "Moderate Buy" rating with a $295.17 average target price.

Robeco Institutional Asset Management B.V. decreased its stake in shares of ResMed Inc. (NYSE:RMD - Free Report) by 15.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 60,661 shares of the medical equipment provider's stock after selling 11,194 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in ResMed were worth $14,611,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of RMD. First Trust Advisors LP increased its position in ResMed by 285.1% during the third quarter. First Trust Advisors LP now owns 445,198 shares of the medical equipment provider's stock worth $121,864,000 after purchasing an additional 329,588 shares during the last quarter. Marshall Wace LLP increased its position in ResMed by 2,373.1% during the third quarter. Marshall Wace LLP now owns 310,987 shares of the medical equipment provider's stock worth $85,126,000 after purchasing an additional 298,412 shares during the last quarter. Nordea Investment Management AB increased its position in 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 worth $262,027,000 after purchasing an additional 294,124 shares during the last quarter. Vanguard Group Inc. increased its position in ResMed by 1.6% during the third quarter. Vanguard Group Inc. now owns 19,040,440 shares of the medical equipment provider's stock worth $5,211,940,000 after purchasing an additional 293,515 shares during the last quarter. Finally, Giverny Capital Inc. acquired a new position in ResMed during the third quarter worth approximately $64,441,000. Institutional investors and hedge funds own 54.98% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on RMD. Weiss Ratings lowered shares of ResMed from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, March 19th. Wells Fargo & Company increased their price objective on shares of ResMed from $265.00 to $270.00 and gave the stock an "equal weight" rating in a research report on Friday, January 30th. KeyCorp reissued an "overweight" rating and issued a $302.00 price objective on shares of ResMed in a research report on Friday, January 30th. Piper Sandler increased their price objective on shares of ResMed from $270.00 to $275.00 and gave the stock a "neutral" rating in a research report on Friday, January 30th. Finally, Wall Street Zen lowered shares of ResMed from a "buy" rating to a "hold" rating in a research report on Saturday, March 14th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, ResMed presently has an average rating of "Moderate Buy" and a consensus target price of $295.17.

Insiders Place Their Bets

In related news, Director Peter C. Farrell sold 2,000 shares of the firm's stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total transaction of $450,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael J. Farrell sold 4,991 shares of the firm's stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of $225.50, for a total transaction of $1,125,470.50. Following the sale, the chief executive officer directly owned 466,223 shares of the company's stock, valued at approximately $105,133,286.50. The trade was a 1.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 21,023 shares of company stock valued at $5,230,857. Company insiders own 0.65% of the company's stock.

ResMed Price Performance

ResMed stock opened at $230.69 on Wednesday. ResMed Inc. has a 52-week low of $202.00 and a 52-week high of $293.81. The firm has a fifty day moving average of $242.69 and a 200-day moving average of $250.96. The firm has a market capitalization of $33.61 billion, a P/E ratio of 22.82, a PEG ratio of 1.53 and a beta of 0.93. 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 released 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 net margin of 27.53% and a return on equity of 25.20%. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the business earned $2.43 earnings per share. The business's quarterly revenue was up 11.0% compared to the same quarter last year. As a group, analysts predict that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Thursday, February 12th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Thursday, February 12th. ResMed's dividend payout ratio (DPR) is presently 23.74%.

ResMed Company 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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