Swedbank AB Has $17.65 Million Stock Position in ResMed Inc. (NYSE:RMD)

Swedbank AB cut its holdings in ResMed Inc. (NYSE:RMD) by 0.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 72,290 shares of the medical equipment provider’s stock after selling 94 shares during the quarter. Swedbank AB’s holdings in ResMed were worth $17,647,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of RMD. Bank of New York Mellon Corp grew its stake in shares of ResMed by 51.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider’s stock valued at $1,105,022,000 after buying an additional 1,959,642 shares during the period. Marshall Wace LLP acquired a new stake in ResMed in the second quarter valued at approximately $77,285,000. Greenvale Capital LLP grew its stake in ResMed by 61.1% in the second quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock valued at $138,780,000 after acquiring an additional 275,000 shares during the period. Los Angeles Capital Management LLC increased its holdings in shares of ResMed by 48.3% during the second quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider’s stock valued at $141,694,000 after acquiring an additional 241,195 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of ResMed during the second quarter worth approximately $42,036,000. 54.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on RMD shares. Robert W. Baird lifted their price target on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. KeyCorp lifted their price objective on shares of ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Bank of America upped their target price on shares of ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Baird R W upgraded ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, ResMed presently has a consensus rating of “Moderate Buy” and an average price target of $225.70.

Insider Activity at ResMed

In related news, insider Kaushik Ghoshal sold 5,000 shares of ResMed stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $252.56, for a total value of $1,262,800.00. Following the completion of the sale, the insider now owns 21,788 shares of the company’s stock, valued at approximately $5,502,777.28. This trade represents a 18.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael J. Farrell sold 14,683 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $231.91, for a total transaction of $3,405,134.53. Following the sale, the chief executive officer now directly owns 464,169 shares in the company, valued at approximately $107,645,432.79. This trade represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,334 shares of company stock worth $16,379,713. Insiders own 0.71% of the company’s stock.

ResMed Trading Up 0.2 %

Shares of ResMed stock opened at $249.99 on Wednesday. The firm has a market cap of $36.70 billion, a PE ratio of 33.11, a P/E/G ratio of 1.77 and a beta of 0.69. ResMed Inc. has a 1 year low of $151.95 and a 1 year high of $260.49. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. The stock has a fifty day moving average price of $241.80 and a 200-day moving average price of $225.04.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.17. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.64 earnings per share. Equities research analysts anticipate that ResMed Inc. will post 9.28 EPS for the current year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.85%. ResMed’s dividend payout ratio (DPR) is presently 28.08%.

ResMed 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.