ResMed Inc. $RMD Shares Purchased by Forsta AP Fonden

Forsta AP Fonden boosted its holdings in ResMed Inc. (NYSE:RMD) by 4.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 83,920 shares of the medical equipment provider’s stock after buying an additional 3,720 shares during the quarter. Forsta AP Fonden’s holdings in ResMed were worth $20,214,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RMD. Jones Financial Companies Lllp boosted its holdings in ResMed by 52.6% in the first quarter. Jones Financial Companies Lllp now owns 2,882 shares of the medical equipment provider’s stock valued at $645,000 after purchasing an additional 994 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in ResMed in the second quarter valued at approximately $389,000. Brown Advisory Inc. lifted its stake in ResMed by 17.8% in the second quarter. Brown Advisory Inc. now owns 1,586 shares of the medical equipment provider’s stock valued at $409,000 after buying an additional 240 shares during the last quarter. Cresset Asset Management LLC purchased a new stake in ResMed in the second quarter valued at approximately $206,000. Finally, Alliancebernstein L.P. lifted its stake in ResMed by 24.2% in the second quarter. Alliancebernstein L.P. now owns 286,078 shares of the medical equipment provider’s stock valued at $73,808,000 after buying an additional 55,790 shares during the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RMD has been the subject of a number of research reports. JPMorgan Chase & Co. initiated coverage on ResMed in a research note on Wednesday, April 15th. They issued an “overweight” rating for the company. Wells Fargo & Company reduced their price objective on ResMed from $270.00 to $227.00 and set an “equal weight” rating for the company in a research note on Friday, May 1st. Wall Street Zen cut ResMed from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Weiss Ratings cut ResMed from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 22nd. Finally, KeyCorp reduced their price objective on ResMed from $302.00 to $290.00 and set an “overweight” rating for the company in a research note on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, ResMed has an average rating of “Moderate Buy” and an average target price of $286.18.

ResMed Price Performance

ResMed stock opened at $190.58 on Friday. ResMed Inc. has a 12 month low of $190.38 and a 12 month high of $293.81. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.01 and a quick ratio of 2.33. The business has a 50 day simple moving average of $216.93 and a 200-day simple moving average of $239.34. The stock has a market capitalization of $27.64 billion, a PE ratio of 18.38, a price-to-earnings-growth ratio of 1.21 and a beta of 0.84.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 EPS for the quarter, topping the consensus estimate of $2.79 by $0.07. ResMed had a return on equity of 25.35% and a net margin of 27.44%.The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the prior year, the business earned $2.37 earnings per share. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. Equities analysts predict that ResMed Inc. will post 11.13 earnings per share for the current year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Thursday, May 14th. ResMed’s dividend payout ratio is 23.14%.

Insider Activity at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $225.00, for a total transaction of $450,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $207.82, for a total value of $1,037,229.62. Following the sale, the chief executive officer owned 466,223 shares of the company’s stock, valued at $96,890,463.86. This trade represents a 1.06% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 18,973 shares of company stock valued at $4,386,031 in the last 90 days. Company insiders own 0.65% of the company’s stock.

About ResMed

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.