Allianz SE Acquires Shares of 1,630 ResMed Inc. (NYSE:RMD)

Allianz SE bought a new stake in shares of ResMed Inc. (NYSE:RMD) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,630 shares of the medical equipment provider’s stock, valued at approximately $373,000.

A number of other institutional investors also recently bought and sold shares of RMD. True Wealth Design LLC grew its stake 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 worth $28,000 after acquiring an additional 110 shares during the last quarter. OFI Invest Asset Management bought a new position in shares of ResMed during the fourth quarter valued at $39,000. BankPlus Trust Department purchased a new stake in shares of ResMed during the fourth quarter valued at $44,000. Rosenberg Matthew Hamilton bought a new stake in ResMed in the 4th quarter worth about $54,000. Finally, SBI Securities Co. Ltd. purchased a new position in ResMed in the 4th quarter worth about $67,000. 54.98% of the stock is owned by institutional investors.

ResMed Stock Down 1.2 %

NYSE RMD opened at $219.85 on Monday. The company has a fifty day moving average of $233.70 and a two-hundred day moving average of $238.02. The firm has a market capitalization of $32.29 billion, a price-to-earnings ratio of 25.96, a PEG ratio of 1.53 and a beta of 0.74. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 52 week low of $172.19 and a 52 week high of $263.05.

ResMed (NYSE:RMD) last posted its quarterly earnings results 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 net margin of 25.34% and a return on equity of 26.17%. On average, analysts predict that ResMed Inc. will post 9.47 earnings per share for the current 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 paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date was Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is currently 25.03%.

Insider Buying and Selling at ResMed

In other news, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total transaction of $484,220.00. Following the sale, the director now directly owns 77,218 shares in the company, valued at $18,695,249.98. This trade represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,940 shares of company stock valued at $9,164,385. 0.71% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research report on Friday, January 31st. The Goldman Sachs Group assumed coverage on ResMed in a research note on Thursday, January 16th. They issued a “buy” rating for the company. KeyCorp raised their price objective on ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, UBS Group upgraded ResMed from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $249.73.

About ResMed

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.