Allianz Asset Management GmbH Sells 5,534 Shares of ResMed Inc. (NYSE:RMD)

Allianz Asset Management GmbH cut its stake in ResMed Inc. (NYSE:RMD) by 5.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 104,879 shares of the medical equipment provider’s stock after selling 5,534 shares during the period. Allianz Asset Management GmbH’s holdings in ResMed were worth $23,985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. State Street Corp grew its stake in ResMed by 1.9% in the 3rd quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider’s stock valued at $1,528,590,000 after buying an additional 116,918 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of ResMed by 10.9% during the third quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock worth $939,114,000 after acquiring an additional 380,383 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of ResMed by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 924,047 shares of the medical equipment provider’s stock valued at $225,578,000 after purchasing an additional 13,985 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of ResMed by 0.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 742,411 shares of the medical equipment provider’s stock worth $181,237,000 after purchasing an additional 2,406 shares during the period. Finally, Tandem Investment Advisors Inc. lifted its holdings in ResMed by 1.0% during the 4th quarter. Tandem Investment Advisors Inc. now owns 501,747 shares of the medical equipment provider’s stock worth $114,745,000 after purchasing an additional 5,087 shares during the last quarter. 54.98% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RMD. JPMorgan Chase & Co. upped their price objective on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a report on Friday, January 31st. KeyCorp upped their price target on shares of ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Stifel Nicolaus began coverage on shares of ResMed in a research report on Friday, December 13th. They set a “hold” rating and a $250.00 price target on the stock. The Goldman Sachs Group began coverage on shares of ResMed in a report on Thursday, January 16th. They issued a “buy” rating for the company. Finally, UBS Group raised shares of ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $244.73.

ResMed Stock Down 1.0 %

NYSE RMD opened at $229.47 on Tuesday. The business has a fifty day moving average price of $237.20 and a two-hundred day moving average price of $239.52. The stock has a market capitalization of $33.70 billion, a PE ratio of 27.09, a PEG ratio of 1.53 and a beta of 0.70. ResMed Inc. has a fifty-two week low of $170.56 and a fifty-two week high of $263.05. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29.

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

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.92%. The ex-dividend date is Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is presently 25.03%.

Insider Buying and Selling

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total transaction of $484,220.00. Following the sale, the director now owns 77,218 shares of the company’s stock, valued at approximately $18,695,249.98. The trade was a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the transaction, the chief executive officer now owns 455,472 shares of the company’s stock, valued at $107,842,105.44. This trade represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,147 shares of company stock worth $2,905,745 in the last three months. 0.71% of the stock is owned by corporate insiders.

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.