Securian Asset Management Inc. Decreases Stock Position in ResMed Inc. $RMD

Securian Asset Management Inc. decreased its position in ResMed Inc. (NYSE:RMD) by 43.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,967 shares of the medical equipment provider’s stock after selling 3,101 shares during the quarter. Securian Asset Management Inc.’s holdings in ResMed were worth $956,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Swedbank AB boosted its stake in shares of ResMed by 103.1% in the fourth quarter. Swedbank AB now owns 1,102,476 shares of the medical equipment provider’s stock valued at $265,553,000 after purchasing an additional 559,765 shares during the period. First Trust Advisors LP increased its stake in ResMed by 285.1% during the 3rd quarter. First Trust Advisors LP now owns 445,198 shares of the medical equipment provider’s stock worth $121,864,000 after buying an additional 329,588 shares during the period. Marshall Wace LLP lifted its holdings in ResMed by 2,373.1% in the 3rd quarter. Marshall Wace LLP now owns 310,987 shares of the medical equipment provider’s stock worth $85,126,000 after buying an additional 298,412 shares in the last quarter. Nordea Investment Management AB boosted its position in ResMed by 37.2% in the 4th quarter. Nordea Investment Management AB now owns 1,084,996 shares of the medical equipment provider’s stock valued at $262,027,000 after buying an additional 294,124 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in ResMed by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 19,040,440 shares of the medical equipment provider’s stock valued at $5,211,940,000 after buying an additional 293,515 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RMD. Wall Street Zen lowered ResMed from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Stifel Nicolaus increased their price target on ResMed from $260.00 to $265.00 and gave the company a “hold” rating in a report on Friday, January 30th. JPMorgan Chase & Co. assumed coverage on ResMed in a report on Wednesday, April 15th. They set an “overweight” rating on the stock. KeyCorp cut their target price on ResMed from $302.00 to $290.00 and set an “overweight” rating on the stock in a research report on Monday, April 27th. Finally, Citigroup reduced their target price on ResMed from $345.00 to $340.00 and set a “buy” rating for the company in a research note on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $286.18.

ResMed Stock Performance

RMD stock opened at $202.42 on Thursday. The stock’s 50 day simple moving average is $226.19 and its 200 day simple moving average is $243.21. ResMed Inc. has a 12-month low of $198.61 and a 12-month high of $293.81. The firm has a market cap of $29.49 billion, a P/E ratio of 19.52, a P/E/G ratio of 1.30 and a beta of 0.84. The company has a current ratio of 3.01, a quick ratio of 2.33 and a debt-to-equity ratio of 0.06.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.07. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the previous year, the company posted $2.37 earnings per share. The firm’s revenue was up 10.8% on a year-over-year basis. As a group, equities research analysts predict that ResMed Inc. will post 11.13 EPS for the current year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $2.40 annualized dividend and a dividend yield of 1.2%. ResMed’s payout ratio is 23.14%.

Insider Transactions at ResMed

In other ResMed news, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $207.82, for a total value of $1,037,229.62. Following the completion of the transaction, the chief executive officer directly owned 466,223 shares in the company, valued at $96,890,463.86. The trade was a 1.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total value of $450,000.00. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 18,973 shares of company stock valued at $4,386,031. Insiders own 0.65% of the company’s stock.

ResMed Company Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.