Banco Bilbao Vizcaya Argentaria S.A. Sells 1,381 Shares of ResMed Inc. $RMD

Banco Bilbao Vizcaya Argentaria S.A. lowered its stake in shares of ResMed Inc. (NYSE:RMD) by 2.9% during the second quarter, Holdings Channel.com reports. The firm owned 46,785 shares of the medical equipment provider’s stock after selling 1,381 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in ResMed were worth $12,070,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealthfront Advisers LLC raised its holdings in ResMed by 16.6% in the first quarter. Wealthfront Advisers LLC now owns 9,380 shares of the medical equipment provider’s stock worth $2,100,000 after purchasing an additional 1,338 shares in the last quarter. Larson Financial Group LLC grew its position in shares of ResMed by 926.7% in the 1st quarter. Larson Financial Group LLC now owns 308 shares of the medical equipment provider’s stock worth $69,000 after buying an additional 278 shares during the last quarter. Forum Financial Management LP raised its stake in shares of ResMed by 28.1% during the 1st quarter. Forum Financial Management LP now owns 1,528 shares of the medical equipment provider’s stock worth $342,000 after acquiring an additional 335 shares in the last quarter. Creekmur Asset Management LLC lifted its position in ResMed by 4,109.1% during the first quarter. Creekmur Asset Management LLC now owns 926 shares of the medical equipment provider’s stock valued at $207,000 after acquiring an additional 904 shares during the last quarter. Finally, Private Advisor Group LLC boosted its stake in ResMed by 18.3% in the first quarter. Private Advisor Group LLC now owns 3,244 shares of the medical equipment provider’s stock valued at $726,000 after acquiring an additional 501 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Mizuho cut their price target on shares of ResMed from $310.00 to $300.00 and set an “outperform” rating on the stock in a report on Friday, October 31st. Piper Sandler boosted their target price on ResMed from $248.00 to $270.00 and gave the stock a “neutral” rating in a research note on Friday, August 1st. Morgan Stanley set a $305.00 price target on ResMed in a research note on Friday, October 31st. CLSA raised ResMed from a “hold” rating to an “outperform” rating in a report on Tuesday, September 2nd. Finally, Citigroup began coverage on shares of ResMed in a report on Thursday, September 18th. They set a “buy” rating and a $330.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $297.45.

ResMed Stock Performance

Shares of RMD opened at $244.74 on Friday. 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 stock has a 50-day moving average of $266.27 and a two-hundred day moving average of $262.80. The stock has a market cap of $35.72 billion, a P/E ratio of 25.73, a P/E/G ratio of 1.75 and a beta of 0.87. ResMed Inc. has a one year low of $199.92 and a one year high of $293.81.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.06. ResMed had a return on equity of 25.62% and a net margin of 27.22%.The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same period last year, the business posted $2.20 earnings per share. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, research analysts predict that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, November 13th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.0%. The ex-dividend date is Thursday, November 13th. ResMed’s payout ratio is presently 24.56%.

Insider Buying and Selling at ResMed

In other news, Director Witte Jan De sold 487 shares of the company’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $250.25, for a total value of $121,871.75. Following the sale, the director directly owned 5,319 shares of the company’s stock, valued at $1,331,079.75. This represents a 8.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $252.05, for a total transaction of $504,100.00. Following the transaction, the director directly owned 66,110 shares of the company’s stock, valued at approximately $16,663,025.50. This trade represents a 2.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 21,182 shares of company stock worth $5,658,783. Corporate insiders own 0.65% 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.