Swedbank AB Raises Stock Position in ResMed Inc. $RMD

Swedbank AB increased its position in shares of ResMed Inc. (NYSE:RMD) by 22.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,350,234 shares of the medical equipment provider’s stock after acquiring an additional 247,758 shares during the period. Swedbank AB owned approximately 0.93% of ResMed worth $303,101,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Terra Nova Asset Management LLC grew its position in ResMed by 0.6% during the third quarter. Terra Nova Asset Management LLC now owns 7,805 shares of the medical equipment provider’s stock worth $2,136,000 after buying an additional 46 shares in the last quarter. Occidental Asset Management LLC lifted its holdings in shares of ResMed by 3.0% during the 4th quarter. Occidental Asset Management LLC now owns 1,699 shares of the medical equipment provider’s stock worth $409,000 after acquiring an additional 49 shares during the last quarter. Kera Capital Partners Inc. boosted its holdings in shares of ResMed by 6.6% in the 4th quarter. Kera Capital Partners Inc. now owns 841 shares of the medical equipment provider’s stock worth $217,000 after purchasing an additional 52 shares in the last quarter. Andina Capital Management LLC boosted its stake in ResMed by 2.9% in the fourth quarter. Andina Capital Management LLC now owns 1,988 shares of the medical equipment provider’s stock worth $479,000 after buying an additional 56 shares in the last quarter. Finally, Wedmont Private Capital grew its position in ResMed by 2.7% during the fourth quarter. Wedmont Private Capital now owns 2,183 shares of the medical equipment provider’s stock valued at $542,000 after acquiring an additional 57 shares during the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at ResMed

In other news, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $193.96, for a total transaction of $968,054.36. Following the completion of the transaction, the chief executive officer directly owned 466,256 shares of the company’s stock, valued at approximately $90,435,013.76. This represents a 1.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.65% of the company’s stock.

ResMed Trading Down 0.0%

Shares of NYSE:RMD traded down $0.05 during trading on Tuesday, reaching $218.35. 258,039 shares of the company traded hands, compared to its average volume of 1,269,952. The company has a current ratio of 3.01, a quick ratio of 2.33 and a debt-to-equity ratio of 0.06. ResMed Inc. has a 52-week low of $180.26 and a 52-week high of $293.81. The firm has a market capitalization of $31.67 billion, a price-to-earnings ratio of 21.05, a P/E/G ratio of 1.23 and a beta of 0.78. The business’s fifty day moving average is $201.13 and its 200-day moving average is $229.14.

ResMed (NYSE:RMD) last issued its 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. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.42 billion. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.37 earnings per share. As a group, analysts forecast that ResMed Inc. will post 11.13 EPS for the current year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Thursday, May 14th were given a $0.60 dividend. The ex-dividend date was Thursday, May 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.1%. ResMed’s payout ratio is presently 23.14%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on RMD. Robert W. Baird set a $225.00 price objective on shares of ResMed in a report on Friday, May 1st. The Goldman Sachs Group reiterated a “buy” rating on shares of ResMed in a research report on Wednesday, July 1st. Morgan Stanley reissued an “equal weight” rating and issued a $230.00 price target (down from $286.00) on shares of ResMed in a research note on Wednesday, June 17th. Weiss Ratings lowered shares of ResMed from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 22nd. Finally, Citigroup reduced their price objective on ResMed from $340.00 to $270.00 and set a “buy” rating on the stock in a research note on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $270.82.

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.