KBC Group NV Raises Holdings in ResMed Inc. (NYSE:RMD)

KBC Group NV grew its holdings in ResMed Inc. (NYSE:RMD) by 2.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,253 shares of the medical equipment provider’s stock after buying an additional 1,522 shares during the quarter. KBC Group NV owned about 0.05% of ResMed worth $16,981,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of RMD. True Wealth Design LLC lifted its holdings in ResMed by 2,200.0% in the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 110 shares during the period. Ashton Thomas Securities LLC acquired a new stake in shares of ResMed in the third quarter valued at about $34,000. Rosenberg Matthew Hamilton acquired a new stake in shares of ResMed in the fourth quarter valued at about $54,000. Capital Performance Advisors LLP acquired a new position in ResMed during the third quarter worth about $60,000. Finally, Quarry LP increased its holdings in ResMed by 271.9% in the second quarter. Quarry LP now owns 331 shares of the medical equipment provider’s stock valued at $63,000 after buying an additional 242 shares in the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RMD has been the topic of several research analyst reports. The Goldman Sachs Group started coverage on ResMed in a research note on Thursday, January 16th. They set a “buy” rating on the stock. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research note on Friday, October 25th. KeyCorp boosted their price objective on shares of ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Finally, Piper Sandler initiated coverage on shares of ResMed in a report on Friday, January 10th. They set a “neutral” rating and a $252.00 target price for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, ResMed has a consensus rating of “Moderate Buy” and a consensus target price of $238.40.

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 stock was sold at an average price of $248.74, for a total transaction of $497,480.00. Following the transaction, the director now directly owns 83,204 shares in the company, valued at approximately $20,696,162.96. This represents a 2.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Justin Leong sold 6,160 shares of ResMed stock in a transaction dated 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 sale, the insider now owns 21,718 shares of the company’s stock, valued at $5,279,428.62. This trade represents a 22.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,099 shares of company stock valued at $2,719,385 in the last quarter. 0.71% of the stock is currently owned by company insiders.

ResMed Stock Performance

Shares of RMD opened at $250.03 on Wednesday. ResMed Inc. has a 1 year low of $170.56 and a 1 year high of $260.49. The company’s 50 day simple moving average is $239.56 and its 200 day simple moving average is $235.40. The company has a market capitalization of $36.70 billion, a price-to-earnings ratio of 33.12, a PEG ratio of 1.78 and a beta of 0.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92.

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.