Generali Asset Management SPA SGR Makes New Investment in ResMed Inc. (NYSE:RMD)

Generali Asset Management SPA SGR bought a new position in ResMed Inc. (NYSE:RMD) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 18,348 shares of the medical equipment provider’s stock, valued at approximately $4,196,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Axxcess Wealth Management LLC lifted its position in ResMed by 63.0% in the fourth quarter. Axxcess Wealth Management LLC now owns 9,969 shares of the medical equipment provider’s stock worth $2,280,000 after purchasing an additional 3,853 shares during the period. Parallel Advisors LLC lifted its position in ResMed by 6.4% in the fourth quarter. Parallel Advisors LLC now owns 1,697 shares of the medical equipment provider’s stock worth $388,000 after purchasing an additional 102 shares during the period. Cibc World Markets Corp lifted its position in ResMed by 15.8% in the fourth quarter. Cibc World Markets Corp now owns 23,141 shares of the medical equipment provider’s stock worth $5,292,000 after purchasing an additional 3,164 shares during the period. SlateStone Wealth LLC lifted its position in ResMed by 6.0% in the fourth quarter. SlateStone Wealth LLC now owns 12,246 shares of the medical equipment provider’s stock worth $2,800,000 after purchasing an additional 696 shares during the period. Finally, Envestnet Portfolio Solutions Inc. lifted its position in ResMed by 157.2% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 6,017 shares of the medical equipment provider’s stock worth $1,376,000 after purchasing an additional 3,678 shares during the period. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RMD. KeyCorp increased their price objective on ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Citigroup upgraded ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 5th. The Goldman Sachs Group began coverage on ResMed in a research report on Thursday, January 16th. They set a “buy” rating for the company. JPMorgan Chase & Co. increased their price objective on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, UBS Group upgraded ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $243.82.

Insider Buying and Selling

In related news, insider Kaushik Ghoshal sold 9,745 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $239.31, for a total value of $2,332,075.95. Following the completion of the sale, the insider now directly owns 9,725 shares in the company, valued at approximately $2,327,289.75. This represents a 50.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total transaction of $484,220.00. Following the completion of the sale, the director now owns 77,218 shares of the company’s stock, valued at $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. Over the last three months, insiders sold 38,940 shares of company stock worth $9,164,385. Corporate insiders own 0.71% of the company’s stock.

ResMed Trading Down 2.1 %

NYSE RMD opened at $220.07 on Wednesday. ResMed Inc. has a 1-year low of $172.19 and a 1-year high of $263.05. 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 company has a market capitalization of $32.32 billion, a PE ratio of 25.98, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. The firm’s fifty day simple moving average is $235.76 and its 200-day simple moving average is $239.49.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. As a group, sell-side analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is presently 25.03%.

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.