KBC Group NV Buys 2,006 Shares of ResMed Inc. $RMD

KBC Group NV grew its stake in shares of ResMed Inc. (NYSE:RMD) by 4.3% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 49,124 shares of the medical equipment provider’s stock after acquiring an additional 2,006 shares during the quarter. KBC Group NV’s holdings in ResMed were worth $12,674,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Zions Bancorporation National Association UT acquired a new stake in ResMed in the first quarter valued at approximately $45,000. Groupe la Francaise bought a new position in shares of ResMed in the 1st quarter valued at $45,000. Harbour Investments Inc. lifted its stake in shares of ResMed by 264.2% in the 2nd quarter. Harbour Investments Inc. now owns 244 shares of the medical equipment provider’s stock valued at $63,000 after acquiring an additional 177 shares during the last quarter. Larson Financial Group LLC boosted its holdings in shares of ResMed by 926.7% during the 1st quarter. Larson Financial Group LLC now owns 308 shares of the medical equipment provider’s stock valued at $69,000 after acquiring an additional 278 shares in the last quarter. Finally, Quarry LP grew its position in ResMed by 141.1% during the 1st quarter. Quarry LP now owns 311 shares of the medical equipment provider’s stock worth $70,000 after acquiring an additional 182 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Citigroup began coverage on ResMed in a research report on Thursday, September 18th. They issued a “buy” rating and a $330.00 target price for the company. Robert W. Baird cut their target price on shares of ResMed from $320.00 to $300.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. Piper Sandler boosted their target price on shares of ResMed from $248.00 to $270.00 and gave the stock a “neutral” rating in a report 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, CLSA upgraded shares of ResMed from a “hold” rating to an “outperform” rating in a report on Tuesday, September 2nd. Two 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’s stock. According to MarketBeat, ResMed currently has a consensus rating of “Moderate Buy” and an average price target of $297.45.

ResMed Trading Down 2.9%

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

ResMed (NYSE:RMD) last announced its quarterly earnings data on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.06. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the prior year, the business earned $2.20 earnings per share. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. Research analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

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

Insider Activity at ResMed

In other news, Director Witte Jan De sold 487 shares of the stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $250.25, for a total value of $121,871.75. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John Hernandez sold 2,575 shares of the firm’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 value of $739,282.50. Following the completion of the transaction, the director owned 4,045 shares in the company, valued at $1,161,319.50. This represents a 38.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 21,182 shares of company stock valued at $5,658,783 over the last quarter. 0.65% of the stock is currently owned by company insiders.

ResMed Company 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.