Handelsbanken Fonder AB Purchases 12,899 Shares of ResMed Inc. (NYSE:RMD)

Handelsbanken Fonder AB boosted its position in ResMed Inc. (NYSE:RMD) by 22.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 70,272 shares of the medical equipment provider’s stock after acquiring an additional 12,899 shares during the quarter. Handelsbanken Fonder AB’s holdings in ResMed were worth $12,088,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in RMD. CWM LLC increased its stake in ResMed by 44.8% in the third quarter. CWM LLC now owns 3,881 shares of the medical equipment provider’s stock valued at $574,000 after acquiring an additional 1,200 shares during the last quarter. AE Wealth Management LLC boosted its position in ResMed by 35.9% in the third quarter. AE Wealth Management LLC now owns 6,573 shares of the medical equipment provider’s stock valued at $972,000 after buying an additional 1,738 shares in the last quarter. Global Retirement Partners LLC boosted its position in ResMed by 12.9% in the third quarter. Global Retirement Partners LLC now owns 840 shares of the medical equipment provider’s stock valued at $124,000 after buying an additional 96 shares in the last quarter. HB Wealth Management LLC acquired a new stake in ResMed in the third quarter valued at approximately $223,000. Finally, Riverview Trust Co boosted its position in ResMed by 255.9% in the third quarter. Riverview Trust Co now owns 210 shares of the medical equipment provider’s stock valued at $31,000 after buying an additional 151 shares in the last quarter. 54.98% of the stock is owned by institutional investors.

ResMed Trading Up 2.1 %

Shares of RMD stock opened at $184.14 on Wednesday. The company has a market cap of $27.09 billion, a P/E ratio of 30.44, a PEG ratio of 2.21 and a beta of 0.67. The stock has a 50 day simple moving average of $186.24 and a two-hundred day simple moving average of $171.30. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.89 and a current ratio of 3.11. ResMed Inc. has a fifty-two week low of $132.24 and a fifty-two week high of $243.52.

ResMed (NYSE:RMD) last issued its earnings results on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.81 by $0.07. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. ResMed had a return on equity of 23.86% and a net margin of 19.77%. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.66 earnings per share. Research analysts forecast that ResMed Inc. will post 7.47 earnings per share for the current year.

Insider Activity

In other ResMed news, Director Peter C. Farrell sold 10,935 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total value of $1,997,387.10. Following the transaction, the director now owns 157,404 shares in the company, valued at $28,751,414.64. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, General Counsel Michael J. Rider sold 200 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $173.25, for a total transaction of $34,650.00. Following the transaction, the general counsel now directly owns 6,688 shares of the company’s stock, valued at $1,158,696. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter C. Farrell sold 10,935 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total value of $1,997,387.10. Following the transaction, the director now directly owns 157,404 shares in the company, valued at $28,751,414.64. The disclosure for this sale can be found here. Insiders sold a total of 11,216 shares of company stock worth $2,046,617 in the last three months. Company insiders own 1.21% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on RMD shares. Needham & Company LLC raised their target price on shares of ResMed from $215.00 to $224.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Oppenheimer raised their target price on shares of ResMed from $185.00 to $205.00 and gave the company an “outperform” rating in a research report on Tuesday, January 30th. KeyCorp initiated coverage on shares of ResMed in a research report on Tuesday, February 6th. They issued an “overweight” rating and a $227.00 target price on the stock. Royal Bank of Canada lifted their price target on shares of ResMed from $181.00 to $182.00 and gave the stock a “sector perform” rating in a report on Thursday, January 25th. Finally, JPMorgan Chase & Co. lifted their price target on shares of ResMed from $160.00 to $195.00 and gave the stock an “overweight” rating in a report on Tuesday, January 9th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $199.20.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.