Achmea Investment Management B.V. Has $51.25 Million Stock Holdings in ResMed Inc. (NYSE:RMD)

Achmea Investment Management B.V. cut its position in shares of ResMed Inc. (NYSE:RMD - Free Report) by 12.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 224,094 shares of the medical equipment provider's stock after selling 32,668 shares during the quarter. ResMed accounts for 0.8% of Achmea Investment Management B.V.'s portfolio, making the stock its 15th largest position. Achmea Investment Management B.V. owned about 0.15% of ResMed worth $51,248,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of ResMed by 162.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 61,940 shares of the medical equipment provider's stock worth $14,165,000 after buying an additional 38,346 shares during the period. Jupiter Asset Management Ltd. acquired a new stake in shares of ResMed in the fourth quarter worth $12,599,000. Sequoia Financial Advisors LLC boosted its position in shares of ResMed by 20.7% in the fourth quarter. Sequoia Financial Advisors LLC now owns 2,502 shares of the medical equipment provider's stock worth $572,000 after buying an additional 429 shares during the period. Wealthfront Advisers LLC boosted its position in shares of ResMed by 447.0% in the fourth quarter. Wealthfront Advisers LLC now owns 42,768 shares of the medical equipment provider's stock worth $9,781,000 after buying an additional 34,950 shares during the period. Finally, Morton Community Bank boosted its position in ResMed by 1.1% during the fourth quarter. Morton Community Bank now owns 17,304 shares of the medical equipment provider's stock valued at $3,957,000 after purchasing an additional 180 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Citigroup raised ResMed from a "neutral" rating to a "buy" rating in a research report on Wednesday, March 5th. StockNews.com raised ResMed from a "hold" rating to a "buy" rating in a research report on Saturday. JPMorgan Chase & Co. lifted their price objective on ResMed from $270.00 to $286.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Piper Sandler lifted their price objective on ResMed from $252.00 to $260.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Finally, KeyCorp lifted their price objective on ResMed from $266.00 to $280.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $243.82.

ResMed Stock Performance

RMD traded up $4.76 on Friday, hitting $224.48. 746,942 shares of the stock traded hands, compared to its average volume of 965,367. ResMed Inc. has a 52 week low of $172.19 and a 52 week high of $263.05. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $32.97 billion, a PE ratio of 26.50, a P/E/G ratio of 1.53 and a beta of 0.74. The business has a fifty day moving average price of $236.30 and a two-hundred day moving average price of $239.82.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. On average, research analysts predict that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be paid a dividend of $0.53 per share. The ex-dividend date is Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 0.94%. ResMed's dividend payout ratio is 25.03%.

Insider Activity at ResMed

In other news, CEO Michael J. Farrell sold 8,009 shares of the business's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $236.77, for a total value of $1,896,290.93. Following the transaction, the chief executive officer now directly owns 455,472 shares of the company's stock, valued at $107,842,105.44. The trade was a 1.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total value of $484,220.00. Following the completion of the transaction, the director now directly owns 77,218 shares in the company, valued at $18,695,249.98. The trade was a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,940 shares of company stock worth $9,164,385 over the last three months. Company insiders own 0.71% of the company's stock.

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.