Andra AP fonden Raises Stock Position in ResMed Inc. $RMD

Andra AP fonden lifted its stake in shares of ResMed Inc. (NYSE:RMD) by 13.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 95,200 shares of the medical equipment provider’s stock after buying an additional 11,289 shares during the quarter. Andra AP fonden owned about 0.06% of ResMed worth $24,562,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. D.A. Davidson & CO. purchased a new stake in ResMed in the first quarter valued at $688,000. OneDigital Investment Advisors LLC lifted its stake in ResMed by 34.7% in the first quarter. OneDigital Investment Advisors LLC now owns 1,239 shares of the medical equipment provider’s stock valued at $277,000 after buying an additional 319 shares during the last quarter. World Investment Advisors raised its position in ResMed by 5.1% in the 1st quarter. World Investment Advisors now owns 3,500 shares of the medical equipment provider’s stock valued at $783,000 after purchasing an additional 169 shares during the last quarter. Concurrent Investment Advisors LLC raised its position in ResMed by 19.7% in the 1st quarter. Concurrent Investment Advisors LLC now owns 2,167 shares of the medical equipment provider’s stock valued at $485,000 after purchasing an additional 356 shares during the last quarter. Finally, Crossmark Global Holdings Inc. raised its position in ResMed by 60.1% in the 1st quarter. Crossmark Global Holdings Inc. now owns 10,959 shares of the medical equipment provider’s stock valued at $2,453,000 after purchasing an additional 4,116 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Insiders Place Their Bets

In other news, Director John Hernandez sold 2,575 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $287.10, for a total value of $739,282.50. Following the completion of the transaction, the director owned 4,045 shares in the company, valued at $1,161,319.50. This trade represents a 38.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Michael J. Rider sold 100 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $274.36, for a total transaction of $27,436.00. Following the completion of the transaction, the general counsel directly owned 11,327 shares of the company’s stock, valued at approximately $3,107,675.72. This trade represents a 0.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 10,684 shares of company stock worth $3,032,064. 0.65% of the stock is owned by corporate insiders.

ResMed Trading Down 0.5%

NYSE RMD opened at $245.20 on Thursday. The stock has a market capitalization of $35.78 billion, a P/E ratio of 25.78, a P/E/G ratio of 1.75 and a beta of 0.87. The firm has a 50-day moving average price of $269.52 and a 200 day moving average price of $261.80. ResMed Inc. has a 52-week low of $199.92 and a 52-week high of $293.81. The company has a quick ratio of 2.53, a current ratio of 3.44 and a debt-to-equity ratio of 0.11.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, October 30th. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.06. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.33 billion. ResMed had a return on equity of 25.62% and a net margin of 27.22%.The company’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.20 EPS. Equities research analysts expect that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, November 13th will be given a $0.60 dividend. The ex-dividend date is Thursday, November 13th. This represents a $2.40 annualized dividend and a yield of 1.0%. ResMed’s dividend payout ratio is presently 24.56%.

Wall Street Analyst Weigh In

RMD has been the subject of a number of research reports. Piper Sandler upped their target price on shares of ResMed from $248.00 to $270.00 and gave the company a “neutral” rating in a report on Friday, August 1st. Wells Fargo & Company assumed coverage on shares of ResMed in a report on Monday, October 13th. They issued an “equal weight” rating and a $280.00 target price for the company. Stifel Nicolaus upped their price objective on ResMed from $240.00 to $270.00 and gave the company a “hold” rating in a research note on Friday, August 1st. Royal Bank Of Canada upped their price objective on ResMed from $300.00 to $303.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. Finally, UBS Group raised ResMed to a “strong-buy” rating in a research note on Tuesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $297.45.

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.