Assenagon Asset Management S.A. Sells 14,445 Shares of ResMed Inc. (NYSE:RMD)

Assenagon Asset Management S.A. decreased its holdings in shares of ResMed Inc. (NYSE:RMD - Free Report) by 29.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,486 shares of the medical equipment provider's stock after selling 14,445 shares during the quarter. Assenagon Asset Management S.A.'s holdings in ResMed were worth $7,887,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. True Wealth Design LLC grew its position in shares of ResMed by 2,200.0% in the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider's stock valued at $28,000 after purchasing an additional 110 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in ResMed in the 3rd quarter valued at $34,000. Rosenberg Matthew Hamilton bought a new position in ResMed during the 4th quarter worth $54,000. Capital Performance Advisors LLP acquired a new stake in shares of ResMed during the third quarter worth $60,000. Finally, Quarry LP boosted its position in shares of ResMed by 271.9% in the second quarter. Quarry LP now owns 331 shares of the medical equipment provider's stock valued at $63,000 after acquiring an additional 242 shares during the period. 54.98% of the stock is owned by institutional investors.

ResMed Price Performance

NYSE:RMD traded up $2.76 on Monday, hitting $239.89. The company had a trading volume of 776,857 shares, compared to its average volume of 670,396. The firm has a 50 day moving average of $238.51 and a two-hundred day moving average of $233.07. The stock has a market capitalization of $35.22 billion, a price-to-earnings ratio of 31.77, a PEG ratio of 1.69 and a beta of 0.70. ResMed Inc. has a 52 week low of $170.39 and a 52 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.

ResMed (NYSE:RMD - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.17. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter last year, the business posted $1.64 EPS. ResMed's revenue for the quarter was up 11.1% on a year-over-year basis. On average, research analysts anticipate that ResMed Inc. will post 9.36 earnings per share for the current year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.88%. The ex-dividend date was Thursday, November 7th. ResMed's dividend payout ratio is currently 28.08%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on RMD. The Goldman Sachs Group assumed coverage on shares of ResMed in a research report on Thursday. They set a "buy" rating on the stock. Royal Bank of Canada lifted their price target on shares of ResMed from $224.00 to $232.00 and gave the company a "sector perform" rating in a research report on Friday, October 25th. Robert W. Baird increased their price target on ResMed from $280.00 to $283.00 and gave the stock an "outperform" rating in a research report on Friday, October 25th. Stifel Nicolaus initiated coverage on ResMed in a report on Friday, December 13th. They issued a "hold" rating and a $250.00 price objective for the company. Finally, KeyCorp increased their target price on ResMed from $251.00 to $266.00 and gave the stock an "overweight" rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $233.09.

Insider Buying and Selling

In other news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total transaction of $491,300.00. Following the completion of the sale, the director now directly owns 81,218 shares in the company, valued at $19,951,201.70. This represents a 2.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Justin Leong sold 6,160 shares of the business's stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the completion of the transaction, the insider now owns 21,718 shares in the company, valued at approximately $5,279,428.62. The trade was a 22.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,099 shares of company stock worth $2,719,385 in the last ninety days. Company insiders own 0.71% of the company's stock.

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.