Assenagon Asset Management S.A. Has $7.89 Million Position in ResMed Inc. (NYSE:RMD)

Assenagon Asset Management S.A. trimmed its position in shares of ResMed Inc. (NYSE:RMD) by 29.5% in the 4th quarter, Holdings Channel.com reports. 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 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. True Wealth Design LLC lifted its holdings in shares of ResMed by 2,200.0% during the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 110 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in ResMed during the third quarter valued at approximately $34,000. Rosenberg Matthew Hamilton acquired a new stake in ResMed in the fourth quarter valued at approximately $54,000. Capital Performance Advisors LLP bought a new stake in ResMed in the third quarter worth approximately $60,000. Finally, Quarry LP increased its stake in shares of ResMed by 271.9% during the 2nd quarter. Quarry LP now owns 331 shares of the medical equipment provider’s stock worth $63,000 after purchasing an additional 242 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Activity at ResMed

In related news, Director Witte Jan De sold 796 shares of ResMed stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total value of $198,052.76. Following the completion of the transaction, the director now directly owns 6,723 shares of the company’s stock, valued at $1,672,749.63. The trade was a 10.59 % 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, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $248.74, for a total transaction of $497,480.00. Following the transaction, the director now owns 83,204 shares in the company, valued at approximately $20,696,162.96. This trade represents a 2.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,099 shares of company stock valued at $2,719,385 in the last ninety days. Insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Stifel Nicolaus initiated coverage on shares of ResMed in a research note on Friday, December 13th. They issued a “hold” rating and a $250.00 price objective for the company. Piper Sandler initiated coverage on ResMed in a research note on Friday, January 10th. They set a “neutral” rating and a $252.00 price target for the company. Royal Bank of Canada raised their price objective on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research report on Friday, October 25th. Finally, KeyCorp increased their price target on ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $233.09.

ResMed Stock Up 1.2 %

NYSE RMD opened at $239.89 on Monday. ResMed Inc. has a 1-year low of $170.39 and a 1-year high of $260.49. The company 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. The stock’s 50 day moving average is $238.51 and its two-hundred day moving average is $233.07. 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) last announced its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS 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 business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the firm earned $1.64 EPS. ResMed’s quarterly revenue was up 11.1% on a year-over-year basis. Equities analysts forecast that ResMed Inc. will post 9.36 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 7th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date was Thursday, November 7th. ResMed’s dividend payout ratio (DPR) is currently 28.08%.

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.