Danske Bank A S Buys Shares of 88,341 ResMed Inc. $RMD

Danske Bank A S purchased a new stake in ResMed Inc. (NYSE:RMD) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 88,341 shares of the medical equipment provider’s stock, valued at approximately $17,216,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC acquired a new stake in shares of ResMed during the fourth quarter worth $25,000. Bell Investment Advisors Inc acquired a new position in ResMed in the second quarter valued at about $26,000. Imprint Wealth LLC bought a new position in ResMed during the third quarter worth about $26,000. WFA of San Diego LLC bought a new position in ResMed during the second quarter worth about $26,000. Finally, Sunbelt Securities Inc. acquired a new position in shares of ResMed during the 3rd quarter worth about $31,000. 54.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. KeyCorp lowered their price target on ResMed from $260.00 to $255.00 and set an “overweight” rating for the company in a research note on Friday, August 7th. Jefferies Financial Group reduced their price objective on shares of ResMed from $240.00 to $225.00 and set a “hold” rating on the stock in a research note on Friday, July 10th. Weiss Ratings upgraded shares of ResMed from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Royal Bank Of Canada upped their target price on shares of ResMed from $234.00 to $244.00 and gave the company a “sector perform” rating in a research note on Friday, August 7th. Finally, Robert W. Baird set a $213.00 target price on shares of ResMed in a report on Friday, August 7th. Seven research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $239.38.

Insider Transactions at ResMed

In related news, Director Peter C. Farrell sold 8,000 shares of ResMed stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $225.00, for a total value of $1,800,000.00. Following the sale, the director owned 52,773 shares of the company’s stock, valued at approximately $11,873,925. This trade represents a 13.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $205.69, for a total value of $1,026,598.79. Following the completion of the sale, the chief executive officer owned 466,256 shares in the company, valued at $95,904,196.64. The trade was a 1.06% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 22,973 shares of company stock worth $4,885,436. Corporate insiders own 0.65% of the company’s stock.

ResMed Trading Down 0.8%

NYSE:RMD opened at $228.81 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.10 and a quick ratio of 2.42. The business’s 50-day simple moving average is $206.48 and its 200-day simple moving average is $219.98. ResMed Inc. has a fifty-two week low of $180.26 and a fifty-two week high of $293.81. The stock has a market capitalization of $33.01 billion, a PE ratio of 21.94, a price-to-earnings-growth ratio of 1.45 and a beta of 0.76.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, August 6th. The medical equipment provider reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $0.06. The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.46 billion. ResMed had a net margin of 26.94% and a return on equity of 25.58%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.55 earnings per share. Sell-side analysts expect that ResMed Inc. will post 12.03 earnings per share for the current fiscal year.

ResMed Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, August 20th will be issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.2%. This is a positive change from ResMed’s previous quarterly dividend of $0.60. The ex-dividend date is Thursday, August 20th. ResMed’s dividend payout ratio is presently 23.01%.

ResMed Profile

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.