KBC Group NV Boosts Stock Position in ResMed Inc. (NYSE:RMD)

KBC Group NV raised its holdings in ResMed Inc. (NYSE:RMD - Free Report) by 255.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 72,731 shares of the medical equipment provider's stock after buying an additional 52,259 shares during the quarter. KBC Group NV's holdings in ResMed were worth $17,756,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. UMB Bank n.a. grew its stake in shares of ResMed by 1.9% in the 3rd quarter. UMB Bank n.a. now owns 2,465 shares of the medical equipment provider's stock valued at $602,000 after purchasing an additional 47 shares during the period. Dorsey & Whitney Trust CO LLC grew its position in ResMed by 3.7% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 1,473 shares of the medical equipment provider's stock valued at $292,000 after acquiring an additional 52 shares during the period. QRG Capital Management Inc. raised its stake in ResMed by 4.5% during the second quarter. QRG Capital Management Inc. now owns 1,291 shares of the medical equipment provider's stock worth $247,000 after acquiring an additional 56 shares in the last quarter. Inspire Advisors LLC lifted its holdings in shares of ResMed by 1.9% during the second quarter. Inspire Advisors LLC now owns 3,060 shares of the medical equipment provider's stock valued at $586,000 after acquiring an additional 56 shares during the period. Finally, Concurrent Investment Advisors LLC boosted its stake in shares of ResMed by 3.1% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 1,919 shares of the medical equipment provider's stock valued at $469,000 after purchasing an additional 57 shares in the last quarter. 54.98% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Witte Jan De sold 796 shares of the firm's stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total value of $198,052.76. Following the completion of the sale, the director now directly owns 6,723 shares in the company, valued at $1,672,749.63. This trade represents a 10.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $248.38, for a total value of $3,646,963.54. Following the completion of the transaction, the chief executive officer now owns 464,169 shares in the company, valued at approximately $115,290,296.22. This represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 63,056 shares of company stock valued at $15,086,020. 0.71% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Robert W. Baird raised their price objective on shares of ResMed from $280.00 to $283.00 and gave the stock an "outperform" rating in a report on Friday, October 25th. Baird R W raised ResMed to a "strong-buy" rating in a report on Tuesday, September 24th. StockNews.com raised ResMed from a "hold" rating to a "buy" rating in a research note on Tuesday, October 15th. Royal Bank of Canada increased their target price on ResMed from $224.00 to $232.00 and gave the stock a "sector perform" rating in a report on Friday, October 25th. Finally, KeyCorp lifted their price target on ResMed from $251.00 to $266.00 and gave the company an "overweight" rating in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $225.70.

ResMed Price Performance

NYSE RMD traded up $3.31 during trading on Friday, hitting $234.74. 1,116,942 shares of the company's stock were exchanged, compared to its average volume of 1,049,160. The stock's 50 day moving average price is $242.83 and its two-hundred day moving average price is $223.55. ResMed Inc. has a fifty-two week low of $147.39 and a fifty-two week high of $260.49. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. The company has a market cap of $34.46 billion, a PE ratio of 31.10, a P/E/G ratio of 1.71 and a beta of 0.69.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.17. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The company's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.64 earnings per share. Research analysts expect that ResMed Inc. will post 9.28 EPS for the current year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be given a $0.53 dividend. The ex-dividend date is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.90%. ResMed's dividend payout ratio (DPR) is currently 28.08%.

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.