Candriam S.C.A. Has $2.46 Million Holdings in ResMed Inc. (NYSE:RMD)

Candriam S.C.A. raised its position in shares of ResMed Inc. (NYSE:RMD) by 6.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 10,733 shares of the medical equipment provider’s stock after purchasing an additional 630 shares during the quarter. Candriam S.C.A.’s holdings in ResMed were worth $2,455,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in RMD. Concurrent Investment Advisors LLC boosted its holdings in shares of ResMed by 3.1% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 1,919 shares of the medical equipment provider’s stock worth $469,000 after buying an additional 57 shares in the last quarter. Graypoint LLC bought a new position in shares of ResMed during the 3rd quarter worth approximately $233,000. Principal Financial Group Inc. boosted its holdings in shares of ResMed by 2.9% during the 3rd quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider’s stock worth $45,596,000 after buying an additional 5,284 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of ResMed during the 3rd quarter worth approximately $60,000. Finally, State of New Jersey Common Pension Fund D boosted its holdings in shares of ResMed by 1.0% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 53,893 shares of the medical equipment provider’s stock worth $13,156,000 after buying an additional 524 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Activity

In other news, insider Kaushik Ghoshal sold 9,113 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the completion of the sale, the insider now directly owns 9,725 shares of the company’s stock, valued at $2,289,265. This trade represents a 48.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total value of $484,220.00. Following the sale, the director now directly owns 77,218 shares of the company’s stock, valued at approximately $18,695,249.98. This represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,186 shares of company stock valued at $4,996,646 in the last ninety days. 0.71% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on RMD shares. Stifel Nicolaus cut their price target on ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a report on Wednesday, March 5th. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a report on Friday, January 31st. The Goldman Sachs Group assumed coverage on ResMed in a report on Thursday, January 16th. They issued a “buy” rating on the stock. StockNews.com cut ResMed from a “buy” rating to a “hold” rating in a report on Friday. Finally, Citigroup upgraded ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $243.82.

ResMed Price Performance

Shares of NYSE:RMD opened at $232.40 on Monday. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The stock’s fifty day simple moving average is $236.70 and its two-hundred day simple moving average is $240.04. ResMed Inc. has a 1-year low of $172.19 and a 1-year high of $263.05. The stock has a market cap of $34.13 billion, a PE ratio of 27.44, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, beating 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%. As a group, analysts forecast that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s dividend payout ratio is presently 25.03%.

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.