Swedbank AB Increases Stock Position in ResMed Inc. $RMD

Swedbank AB increased its holdings in shares of ResMed Inc. (NYSE:RMD) by 25.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 542,711 shares of the medical equipment provider’s stock after purchasing an additional 109,760 shares during the period. Swedbank AB owned 0.37% of ResMed worth $148,556,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of RMD. ICW Investment Advisors LLC increased its holdings in shares of ResMed by 0.4% in the 1st quarter. ICW Investment Advisors LLC now owns 11,394 shares of the medical equipment provider’s stock valued at $2,551,000 after acquiring an additional 41 shares during the period. Johnson Investment Counsel Inc. lifted its stake in shares of ResMed by 2.8% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 1,665 shares of the medical equipment provider’s stock worth $430,000 after purchasing an additional 45 shares during the last quarter. Quadcap Wealth Management LLC boosted its position in ResMed by 2.5% during the second quarter. Quadcap Wealth Management LLC now owns 1,880 shares of the medical equipment provider’s stock valued at $485,000 after purchasing an additional 45 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in ResMed by 3.9% in the first quarter. Smartleaf Asset Management LLC now owns 1,222 shares of the medical equipment provider’s stock valued at $269,000 after purchasing an additional 46 shares during the last quarter. Finally, OFI Invest Asset Management grew its stake in ResMed by 10.4% in the third quarter. OFI Invest Asset Management now owns 509 shares of the medical equipment provider’s stock valued at $139,000 after purchasing an additional 48 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

ResMed Price Performance

Shares of RMD opened at $244.40 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.89 and a quick ratio of 2.13. The company’s fifty day moving average price is $252.76 and its 200-day moving average price is $263.87. ResMed Inc. has a 1-year low of $199.92 and a 1-year high of $293.81. The firm has a market capitalization of $35.67 billion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 1.66 and a beta of 0.87.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Friday, October 31st. The medical equipment provider reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.06. The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.33 billion. ResMed had a return on equity of 25.45% and a net margin of 27.35%.The firm’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.20 EPS. On average, equities research analysts predict that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, November 13th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.0%. ResMed’s payout ratio is 24.56%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Citigroup started coverage on shares of ResMed in a research report on Thursday, September 18th. They set a “buy” rating and a $330.00 price target for the company. Morgan Stanley set a $305.00 price objective on shares of ResMed in a research note on Friday, October 31st. Baird R W downgraded shares of ResMed from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. CLSA raised shares of ResMed from a “hold” rating to an “outperform” rating in a report on Tuesday, September 2nd. Finally, Mizuho decreased their price objective on ResMed from $310.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, ResMed currently has an average rating of “Moderate Buy” and an average price target of $296.09.

Insider Transactions at ResMed

In other news, General Counsel Michael J. Rider sold 100 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $274.36, for a total value of $27,436.00. Following the sale, the general counsel directly owned 11,327 shares of the company’s stock, valued at $3,107,675.72. This represents a 0.88% decrease in their position. 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 8,011 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $249.75, for a total transaction of $2,000,747.25. Following the transaction, the chief executive officer directly owned 467,866 shares of the company’s stock, valued at approximately $116,849,533.50. This trade represents a 1.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 22,662 shares of company stock worth $5,946,466 in the last ninety days. Corporate insiders own 0.65% of the company’s stock.

ResMed Company 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.