Securian Asset Management Inc. Sells 139 Shares of ResMed Inc. $RMD

Securian Asset Management Inc. trimmed its holdings in shares of ResMed Inc. (NYSE:RMD) by 1.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,680 shares of the medical equipment provider’s stock after selling 139 shares during the period. Securian Asset Management Inc.’s holdings in ResMed were worth $1,981,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Ballentine Partners LLC raised its stake in shares of ResMed by 6.3% during the first quarter. Ballentine Partners LLC now owns 1,782 shares of the medical equipment provider’s stock worth $399,000 after buying an additional 105 shares during the last quarter. Inspire Investing LLC raised its stake in shares of ResMed by 29.3% during the first quarter. Inspire Investing LLC now owns 28,578 shares of the medical equipment provider’s stock worth $6,397,000 after buying an additional 6,472 shares during the last quarter. Intech Investment Management LLC raised its stake in shares of ResMed by 63.2% during the first quarter. Intech Investment Management LLC now owns 15,325 shares of the medical equipment provider’s stock worth $3,430,000 after buying an additional 5,934 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of ResMed by 8.5% during the first quarter. Goldman Sachs Group Inc. now owns 739,007 shares of the medical equipment provider’s stock worth $165,427,000 after buying an additional 58,155 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of ResMed by 2.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 977,401 shares of the medical equipment provider’s stock worth $218,791,000 after buying an additional 22,789 shares during the last quarter. 54.98% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of ResMed in a research note on Wednesday, October 8th. Royal Bank Of Canada boosted their price target on shares of ResMed from $294.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, August 1st. Piper Sandler boosted their price target on shares of ResMed from $248.00 to $270.00 and gave the stock a “neutral” rating in a research note on Friday, August 1st. Wall Street Zen downgraded shares of ResMed from a “buy” rating to a “hold” rating in a research note on Sunday, August 10th. Finally, Citigroup assumed coverage on shares of ResMed in a research note on Thursday, September 18th. They issued a “buy” rating and a $330.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $294.55.

Insider Activity

In other news, CEO Michael J. Farrell sold 8,009 shares of the company’s stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $282.85, for a total value of $2,265,345.65. Following the completion of the transaction, the chief executive officer owned 467,792 shares in the company, valued at $132,314,967.20. This represents a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Hernandez sold 2,575 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $287.10, for a total transaction of $739,282.50. Following the completion of the transaction, the director owned 4,045 shares of the company’s stock, valued at $1,161,319.50. This trade represents a 38.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,743 shares of company stock worth $5,284,514 over the last quarter. 0.65% of the stock is currently owned by company insiders.

ResMed Stock Down 0.7%

Shares of NYSE:RMD opened at $266.32 on Thursday. ResMed Inc. has a 52 week low of $199.92 and a 52 week high of $293.81. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.53 and a current ratio of 3.44. The company has a market capitalization of $38.87 billion, a PE ratio of 28.00, a PEG ratio of 1.79 and a beta of 0.83. The company has a 50 day moving average price of $276.14 and a two-hundred day moving average price of $258.27.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.08. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.33 billion. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.08 earnings per share. Analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, August 14th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.9%. This is a boost from ResMed’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, August 14th. ResMed’s dividend payout ratio is currently 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.