Assenagon Asset Management S.A. cut its stake in shares of ResMed Inc. (NYSE:RMD) by 64.8% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 5,191 shares of the medical equipment provider’s stock after selling 9,541 shares during the period. Assenagon Asset Management S.A.’s holdings in ResMed were worth $404,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in the stock. Aperio Group LLC boosted its position in shares of ResMed by 11.4% in the second quarter. Aperio Group LLC now owns 57,911 shares of the medical equipment provider’s stock valued at $4,510,000 after buying an additional 5,949 shares in the last quarter. West Coast Financial LLC boosted its position in shares of ResMed by 6.0% in the second quarter. West Coast Financial LLC now owns 78,631 shares of the medical equipment provider’s stock valued at $6,123,000 after buying an additional 4,477 shares in the last quarter. Rockefeller Financial Services Inc. boosted its position in shares of ResMed by 1.9% in the second quarter. Rockefeller Financial Services Inc. now owns 179,715 shares of the medical equipment provider’s stock valued at $13,994,000 after buying an additional 3,308 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in shares of ResMed by 3.4% in the second quarter. Louisiana State Employees Retirement System now owns 37,000 shares of the medical equipment provider’s stock valued at $2,881,000 after buying an additional 1,200 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of ResMed by 0.8% in the second quarter. Nisa Investment Advisors LLC now owns 95,325 shares of the medical equipment provider’s stock valued at $7,407,000 after buying an additional 800 shares in the last quarter. 60.69% of the stock is owned by hedge funds and other institutional investors.
Shares of ResMed Inc. (NYSE:RMD) traded down 0.97% during trading on Friday, hitting $77.27. The stock had a trading volume of 223,849 shares. The company has a market cap of $10.96 billion, a PE ratio of 33.89 and a beta of 0.84. The firm’s 50 day moving average is $76.25 and its 200 day moving average is $70.99. ResMed Inc. has a 1-year low of $56.59 and a 1-year high of $79.44.
ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, April 27th. The medical equipment provider reported $0.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.01. ResMed had a return on equity of 22.53% and a net margin of 15.96%. The company had revenue of $514.20 million for the quarter, compared to the consensus estimate of $525.84 million. During the same quarter last year, the business posted $0.68 earnings per share. The firm’s revenue was up 13.3% compared to the same quarter last year. Equities research analysts anticipate that ResMed Inc. will post $2.80 EPS for the current fiscal year.
Several brokerages have weighed in on RMD. Zacks Investment Research raised ResMed from a “hold” rating to a “buy” rating and set a $87.00 price objective for the company in a report on Thursday, July 6th. BidaskClub raised ResMed from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 17th. BMO Capital Markets reiterated a “hold” rating on shares of ResMed in a research note on Friday, May 12th. Citigroup Inc. lowered ResMed from a “buy” rating to a “neutral” rating in a research note on Friday, April 28th. Finally, Jefferies Group LLC reiterated a “sell” rating and issued a $56.00 price target on shares of ResMed in a research note on Friday, April 28th. Four analysts have rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $64.50.
In related news, Director Richard Sulpizio sold 65,887 shares of the stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $77.82, for a total value of $5,127,326.34. Following the sale, the director now owns 4,429 shares in the company, valued at $344,664.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Brett Sandercock sold 1,250 shares of the stock in a transaction on Monday, May 1st. The stock was sold at an average price of $68.60, for a total value of $85,750.00. Following the completion of the sale, the chief financial officer now owns 62,783 shares in the company, valued at approximately $4,306,913.80. The disclosure for this sale can be found here. Insiders sold 180,261 shares of company stock worth $13,560,373 in the last quarter. 1.97% of the stock is currently owned by company insiders.
About ResMed
ResMed Inc is a holding company. The Company is engaged in the development, manufacturing, distribution and marketing of medical devices and cloud-based software applications that diagnose, treat and manage respiratory disorders, including sleep disordered breathing (SDB), chronic obstructive pulmonary disease (COPD), neuromuscular disease and other diseases.
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