BNP PARIBAS ASSET MANAGEMENT Holding S.A. Grows Position in ResMed Inc. (NYSE:RMD)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of ResMed Inc. (NYSE:RMD - Free Report) by 233.1% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 74,369 shares of the medical equipment provider's stock after acquiring an additional 52,046 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned approximately 0.05% of ResMed worth $18,155,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. UMB Bank n.a. grew its position in ResMed by 1.9% in the 3rd quarter. UMB Bank n.a. now owns 2,465 shares of the medical equipment provider's stock worth $602,000 after purchasing an additional 47 shares during the period. QRG Capital Management Inc. grew its stake in shares of ResMed by 4.5% during the 2nd quarter. QRG Capital Management Inc. now owns 1,291 shares of the medical equipment provider's stock valued at $247,000 after acquiring an additional 56 shares during the period. Inspire Advisors LLC increased its stake in ResMed by 1.9% in the 2nd quarter. Inspire Advisors LLC now owns 3,060 shares of the medical equipment provider's stock worth $586,000 after buying an additional 56 shares in the last quarter. Concurrent Investment Advisors LLC grew its position in shares of ResMed by 3.1% during the third quarter. Concurrent Investment Advisors LLC now owns 1,919 shares of the medical equipment provider's stock worth $469,000 after purchasing an additional 57 shares in the last quarter. Finally, Moss Adams Wealth Advisors LLC increased its holdings in ResMed by 2.0% in the 3rd quarter. Moss Adams Wealth Advisors LLC now owns 3,043 shares of the medical equipment provider's stock valued at $743,000 after acquiring an additional 60 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors.

ResMed Stock Up 0.1 %

NYSE:RMD opened at $243.78 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. The company's fifty day moving average price is $241.86 and its 200-day moving average price is $224.42. ResMed Inc. has a 1-year low of $151.95 and a 1-year high of $260.49. The firm has a market capitalization of $35.79 billion, a P/E ratio of 32.29, a PEG ratio of 1.77 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 for the quarter, topping the consensus estimate of $2.03 by $0.17. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The firm's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the firm earned $1.64 EPS. As a group, equities research analysts anticipate that ResMed Inc. will post 9.28 EPS for the current year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Thursday, November 7th. ResMed's payout ratio is presently 28.08%.

Insiders Place Their Bets

In other ResMed news, CFO Brett Sandercock sold 1,000 shares of the stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $233.47, for a total transaction of $233,470.00. Following the transaction, the chief financial officer now owns 95,812 shares in the company, valued at approximately $22,369,227.64. This represents a 1.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael J. Farrell sold 14,683 shares of the business's stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $248.38, for a total value of $3,646,963.54. Following the completion of the sale, the chief executive officer now owns 464,169 shares of the company's stock, valued at $115,290,296.22. This trade represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 62,174 shares of company stock worth $14,882,278. Corporate insiders own 0.71% of the company's stock.

Wall Street Analysts Forecast Growth

RMD has been the topic of several analyst reports. Needham & Company LLC reissued a "hold" rating on shares of ResMed in a research note on Friday, October 25th. Royal Bank of Canada lifted their price objective on shares of ResMed from $224.00 to $232.00 and gave the company a "sector perform" rating in a report on Friday, October 25th. Wolfe Research reiterated an "underperform" rating and set a $180.00 target price on shares of ResMed in a report on Wednesday, September 18th. Baird R W upgraded ResMed to a "strong-buy" rating in a report on Tuesday, September 24th. Finally, Bank of America increased their target price on shares of ResMed from $240.00 to $270.00 and gave the company a "buy" rating in a research report on Thursday, September 26th. One analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $225.70.

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.