ResMed Inc. (NYSE:RMD) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. trimmed its holdings in shares of ResMed Inc. (NYSE:RMD) by 29.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,486 shares of the medical equipment provider’s stock after selling 14,445 shares during the period. Assenagon Asset Management S.A.’s holdings in ResMed were worth $7,887,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Marshall Wace LLP purchased a new stake in shares of ResMed during the second quarter valued at approximately $77,285,000. Geode Capital Management LLC increased its stake in ResMed by 10.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock worth $939,114,000 after buying an additional 380,383 shares during the period. Greenvale Capital LLP lifted its holdings in ResMed by 61.1% in the 2nd quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock worth $138,780,000 after buying an additional 275,000 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in ResMed by 726.3% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,801 shares of the medical equipment provider’s stock valued at $69,281,000 after buying an additional 249,454 shares during the last quarter. Finally, Nordea Investment Management AB grew its stake in shares of ResMed by 92.7% during the fourth quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider’s stock valued at $103,214,000 after acquiring an additional 215,561 shares in the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on RMD shares. Bank of America lifted their price objective on ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Piper Sandler began coverage on shares of ResMed in a report on Friday, January 10th. They issued a “neutral” rating and a $252.00 price target on the stock. The Goldman Sachs Group assumed coverage on shares of ResMed in a report on Thursday. They set a “buy” rating for the company. Robert W. Baird boosted their target price on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $233.09.

ResMed Stock Up 1.2 %

RMD stock opened at $239.89 on Monday. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The firm’s 50-day simple moving average is $238.51 and its 200 day simple moving average is $233.07. The stock has a market cap of $35.22 billion, a PE ratio of 31.77, a price-to-earnings-growth ratio of 1.69 and a beta of 0.70. ResMed Inc. has a fifty-two week low of $170.39 and a fifty-two week high of $260.49.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.17. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the firm posted $1.64 earnings per share. The business’s revenue was up 11.1% on a year-over-year basis. As a group, sell-side analysts predict that ResMed Inc. will post 9.36 EPS for the current year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 7th were given a $0.53 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a yield of 0.88%. ResMed’s dividend payout ratio is presently 28.08%.

Insider Buying and Selling at ResMed

In other news, Director Witte Jan De sold 796 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total value of $198,052.76. Following the completion of the sale, the director now owns 6,723 shares in the company, valued at $1,672,749.63. This represents a 10.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Justin Leong sold 6,160 shares of ResMed stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $243.09, for a total value of $1,497,434.40. Following the transaction, the insider now directly owns 21,718 shares in the company, valued at approximately $5,279,428.62. The trade was a 22.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,099 shares of company stock valued at $2,719,385. Company insiders own 0.71% of the company’s stock.

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.