Groupama Asset Managment Has $728,000 Position in ResMed Inc. $RMD

Groupama Asset Managment lessened its stake in ResMed Inc. (NYSE:RMD) by 51.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,658 shares of the medical equipment provider’s stock after selling 2,834 shares during the quarter. Groupama Asset Managment’s holdings in ResMed were worth $728,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SJS Investment Consulting Inc. grew its holdings in shares of ResMed by 1,433.3% during the 3rd quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 86 shares in the last quarter. Imprint Wealth LLC purchased a new stake in shares of ResMed during the third quarter worth $26,000. WFA of San Diego LLC acquired a new stake in ResMed during the second quarter valued at $26,000. Sunbelt Securities Inc. purchased a new position in ResMed in the third quarter valued at about $31,000. Finally, Westside Investment Management Inc. grew its stake in ResMed by 100.0% in the third quarter. Westside Investment Management Inc. now owns 132 shares of the medical equipment provider’s stock valued at $36,000 after purchasing an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on RMD shares. Citigroup raised their price target on ResMed from $330.00 to $345.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Wells Fargo & Company increased their price objective on ResMed from $265.00 to $270.00 and gave the stock an “equal weight” rating in a report on Friday, January 30th. Weiss Ratings lowered shares of ResMed from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. Robert W. Baird set a $281.00 target price on shares of ResMed in a research report on Friday, January 30th. Finally, KeyCorp restated an “overweight” rating and set a $302.00 price target on shares of ResMed in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $299.27.

ResMed Stock Performance

RMD opened at $226.46 on Friday. The stock has a market cap of $32.99 billion, a PE ratio of 22.40, a P/E/G ratio of 1.51 and a beta of 0.88. The company has a current ratio of 3.06, a quick ratio of 2.32 and a debt-to-equity ratio of 0.06. ResMed Inc. has a 1 year low of $199.92 and a 1 year high of $293.81. The stock’s 50 day simple moving average is $253.06 and its 200-day simple moving average is $256.85.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, January 29th. The medical equipment provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.13. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the business posted $2.43 earnings per share. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. Sell-side analysts forecast that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Thursday, February 12th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Thursday, February 12th. ResMed’s dividend payout ratio (DPR) is currently 23.74%.

Insider Buying and Selling at ResMed

In other ResMed news, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $248.46, for a total transaction of $1,240,063.86. Following the sale, the chief executive officer owned 466,223 shares of the company’s stock, valued at $115,837,766.58. This represents a 1.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $260.22, for a total transaction of $520,440.00. Following the completion of the transaction, the director directly owned 62,773 shares of the company’s stock, valued at approximately $16,334,790.06. This represents a 3.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 21,073 shares of company stock valued at $5,405,198. Corporate insiders own 0.65% of the company’s stock.

ResMed Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.