ING Groep NV Sells 5,309 Shares of ResMed Inc. (NYSE:RMD)

ING Groep NV reduced its stake in ResMed Inc. (NYSE:RMDFree Report) by 28.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,137 shares of the medical equipment provider’s stock after selling 5,309 shares during the period. ING Groep NV’s holdings in ResMed were worth $2,260,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in RMD. Handelsbanken Fonder AB grew its stake in ResMed by 22.5% in the fourth quarter. Handelsbanken Fonder AB now owns 70,272 shares of the medical equipment provider’s stock worth $12,088,000 after purchasing an additional 12,899 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of ResMed by 13.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,231 shares of the medical equipment provider’s stock valued at $7,781,000 after buying an additional 5,517 shares during the period. Vaughan David Investments LLC IL bought a new stake in shares of ResMed in the fourth quarter valued at about $29,322,000. ICW Investment Advisors LLC lifted its stake in ResMed by 2.3% in the fourth quarter. ICW Investment Advisors LLC now owns 11,303 shares of the medical equipment provider’s stock worth $1,944,000 after acquiring an additional 249 shares during the period. Finally, Los Angeles Capital Management LLC grew its holdings in ResMed by 647.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 13,491 shares of the medical equipment provider’s stock worth $2,321,000 after acquiring an additional 11,685 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors.

Insider Activity at ResMed

In other ResMed news, Director Witte Jan De sold 360 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $218.29, for a total transaction of $78,584.40. Following the transaction, the director now directly owns 7,519 shares of the company’s stock, valued at $1,641,322.51. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other ResMed news, Director Witte Jan De sold 360 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $218.29, for a total transaction of $78,584.40. Following the completion of the transaction, the director now owns 7,519 shares of the company’s stock, valued at $1,641,322.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $216.50, for a total value of $3,178,869.50. Following the sale, the chief executive officer now owns 440,752 shares of the company’s stock, valued at $95,422,808. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,684 shares of company stock valued at $5,395,412. 1.21% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada upped their price target on shares of ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a research report on Friday, April 26th. Mizuho reissued a “buy” rating and issued a $215.00 price target on shares of ResMed in a research report on Wednesday, March 27th. Needham & Company LLC upped their price objective on ResMed from $224.00 to $236.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. KeyCorp lifted their target price on ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Finally, UBS Group increased their price target on shares of ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $202.80.

Read Our Latest Stock Analysis on ResMed

ResMed Stock Performance

Shares of NYSE RMD opened at $218.85 on Tuesday. The company has a market capitalization of $32.15 billion, a PE ratio of 33.62, a price-to-earnings-growth ratio of 2.69 and a beta of 0.64. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.97 and a current ratio of 3.04. The company’s fifty day moving average price is $198.29 and its 200 day moving average price is $180.78. ResMed Inc. has a 1 year low of $132.24 and a 1 year high of $229.97.

ResMed (NYSE:RMDGet Free Report) last posted its earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.22. ResMed had a net margin of 20.91% and a return on equity of 24.43%. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the company posted $1.68 EPS. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, research analysts predict that ResMed Inc. will post 7.64 earnings per share for the current year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 9th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.88%. ResMed’s dividend payout ratio (DPR) is 29.49%.

About ResMed

(Free Report)

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.

Further Reading

Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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