ResMed Inc. (RMD) Shares Sold by DNB Asset Management AS

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DNB Asset Management AS lowered its position in ResMed Inc. (NYSE:RMD) by 25.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,773 shares of the medical equipment provider’s stock after selling 5,154 shares during the period. DNB Asset Management AS’s holdings in ResMed were worth $1,536,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of RMD. We Are One Seven LLC lifted its position in ResMed by 81.2% during the first quarter. We Are One Seven LLC now owns 5,756 shares of the medical equipment provider’s stock valued at $598,000 after purchasing an additional 2,579 shares in the last quarter. Capital Investment Services of America Inc. lifted its position in ResMed by 1.3% during the first quarter. Capital Investment Services of America Inc. now owns 154,524 shares of the medical equipment provider’s stock valued at $16,066,000 after purchasing an additional 1,932 shares in the last quarter. New England Research & Management Inc. purchased a new position in ResMed during the first quarter valued at $244,000. Pinnacle Bank purchased a new position in ResMed during the fourth quarter valued at $42,000. Finally, Norges Bank purchased a new position in ResMed during the fourth quarter valued at $140,077,000. 68.12% of the stock is owned by institutional investors.

RMD has been the topic of several analyst reports. JPMorgan Chase & Co. downgraded ResMed from a “neutral” rating to an “underweight” rating and set a $99.60 target price on the stock. in a research report on Friday, January 25th. Deutsche Bank downgraded ResMed from a “buy” rating to a “hold” rating in a research report on Wednesday, January 23rd. BMO Capital Markets lowered their target price on ResMed to $120.00 and set a “positive” rating on the stock in a research report on Monday, January 28th. Goldman Sachs Group downgraded ResMed from a “buy” rating to a “neutral” rating in a research report on Friday, January 25th. Finally, ValuEngine downgraded ResMed from a “buy” rating to a “hold” rating in a research report on Thursday, April 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $111.87.

In other news, insider David Pendarvis sold 4,457 shares of the company’s stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $93.50, for a total transaction of $416,729.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brett Sandercock sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 30th. The shares were sold at an average price of $92.30, for a total value of $276,900.00. Following the transaction, the chief financial officer now directly owns 91,390 shares in the company, valued at approximately $8,435,297. The disclosure for this sale can be found here. Insiders sold 76,759 shares of company stock worth $7,723,835 over the last ninety days. Insiders own 1.24% of the company’s stock.

NYSE RMD opened at $97.37 on Thursday. The firm has a market cap of $14.51 billion, a P/E ratio of 27.58, a P/E/G ratio of 2.74 and a beta of 0.58. The company has a current ratio of 2.44, a quick ratio of 1.76 and a debt-to-equity ratio of 0.61. ResMed Inc. has a fifty-two week low of $90.64 and a fifty-two week high of $118.50.

ResMed (NYSE:RMD) last released its earnings results on Thursday, January 24th. The medical equipment provider reported $1.00 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.05. ResMed had a return on equity of 26.53% and a net margin of 18.34%. The company had revenue of $651.10 million for the quarter, compared to the consensus estimate of $676.77 million. During the same period in the previous year, the business earned $1.00 earnings per share. ResMed’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, equities research analysts anticipate that ResMed Inc. will post 3.55 EPS for the current year.

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ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. It offers various products and solutions for a range of respiratory disorders, including technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, portable oxygen concentrators, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.

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Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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