ResMed Inc. (NYSE:RMD) Shares Bought by KBC Group NV

KBC Group NV lifted its position in shares of ResMed Inc. (NYSE:RMD) by 2.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 74,253 shares of the medical equipment provider’s stock after purchasing an additional 1,522 shares during the quarter. KBC Group NV’s holdings in ResMed were worth $16,981,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Blue Trust Inc. lifted its position in ResMed by 43.1% during the fourth quarter. Blue Trust Inc. now owns 1,394 shares of the medical equipment provider’s stock valued at $340,000 after buying an additional 420 shares in the last quarter. Kingswood Wealth Advisors LLC acquired a new position in shares of ResMed during the 4th quarter valued at $236,000. Linden Thomas Advisory Services LLC boosted its position in ResMed by 3.1% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 15,377 shares of the medical equipment provider’s stock worth $3,517,000 after purchasing an additional 462 shares during the period. Impact Partnership Wealth LLC acquired a new stake in ResMed in the 4th quarter valued at $505,000. Finally, Mutual Advisors LLC acquired a new position in shares of ResMed during the fourth quarter worth about $208,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Insiders Place Their Bets

In related news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $248.74, for a total transaction of $497,480.00. Following the sale, the director now owns 83,204 shares in the company, valued at $20,696,162.96. This represents a 2.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Justin Leong sold 6,160 shares of ResMed stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $243.09, for a total value of $1,497,434.40. Following the completion of the transaction, the insider now owns 21,718 shares of the company’s stock, valued at approximately $5,279,428.62. The trade was a 22.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,099 shares of company stock valued at $2,719,385. Company insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on RMD shares. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Stifel Nicolaus initiated coverage on shares of ResMed in a research report on Friday, December 13th. They set a “hold” rating and a $250.00 target price on the stock. Piper Sandler assumed coverage on shares of ResMed in a report on Friday, January 10th. They set a “neutral” rating and a $252.00 price target for the company. KeyCorp lifted their price target on shares of ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Finally, Robert W. Baird lifted their target price on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $238.40.

ResMed Price Performance

Shares of NYSE RMD opened at $250.03 on Wednesday. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $36.70 billion, a price-to-earnings ratio of 33.12, a price-to-earnings-growth ratio of 1.78 and a beta of 0.70. ResMed Inc. has a twelve month low of $170.56 and a twelve month high of $260.49. The business has a 50 day simple moving average of $239.56 and a 200-day simple moving average of $235.40.

ResMed Company 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.