Allianz SE Takes Position in ResMed Inc. (NYSE:RMD)

Allianz SE purchased a new position in ResMed Inc. (NYSE:RMD - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,630 shares of the medical equipment provider's stock, valued at approximately $373,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. True Wealth Design LLC lifted its holdings in ResMed by 2,200.0% in the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider's stock worth $28,000 after purchasing an additional 110 shares during the period. OFI Invest Asset Management bought a new position in shares of ResMed in the fourth quarter valued at approximately $39,000. BankPlus Trust Department bought a new position in shares of ResMed in the fourth quarter valued at approximately $44,000. Rosenberg Matthew Hamilton acquired a new position in shares of ResMed during the fourth quarter valued at approximately $54,000. Finally, SBI Securities Co. Ltd. bought a new stake in ResMed during the fourth quarter worth approximately $67,000. Institutional investors own 54.98% of the company's stock.

Insider Buying and Selling at ResMed

In other news, insider Kaushik Ghoshal sold 9,113 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the transaction, the insider now directly owns 9,725 shares in the company, valued at $2,289,265. The trade was a 48.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction 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 sale, the chief executive officer now owns 455,472 shares of the company's stock, valued at approximately $107,842,105.44. This represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 39,004 shares of company stock worth $9,178,648. 0.71% of the stock is currently owned by company insiders.

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Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RMD. Morgan Stanley started coverage on ResMed in a research report on Wednesday, March 19th. They set an "overweight" rating and a $280.00 price target on the stock. The Goldman Sachs Group assumed coverage on ResMed in a report on Thursday, January 16th. They set a "buy" rating on the stock. Needham & Company LLC restated a "hold" rating on shares of ResMed in a research report on Friday, January 31st. UBS Group upgraded shares of ResMed from a "hold" rating to a "strong-buy" rating in a report on Friday, January 31st. Finally, KeyCorp raised their target price on shares of ResMed from $266.00 to $280.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $249.73.

ResMed Stock Down 3.8 %

Shares of RMD traded down $8.55 during mid-day trading on Thursday, reaching $214.45. The company's stock had a trading volume of 823,658 shares, compared to its average volume of 998,450. ResMed Inc. has a 1 year low of $172.19 and a 1 year high of $263.05. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The company has a market cap of $31.50 billion, a price-to-earnings ratio of 25.24, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. The business has a fifty day moving average of $232.37 and a 200 day moving average of $237.54.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, topping analysts' consensus estimates of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. As a group, analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 13th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date was Thursday, February 13th. ResMed's payout ratio is presently 25.03%.

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.