Swedbank AB Grows Position in ResMed Inc. $RMD

Swedbank AB lifted its position in shares of ResMed Inc. (NYSE:RMD) by 25.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 542,711 shares of the medical equipment provider’s stock after purchasing an additional 109,760 shares during the quarter. Swedbank AB’s holdings in ResMed were worth $148,556,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Entropy Technologies LP increased its stake in shares of ResMed by 188.7% in the 2nd quarter. Entropy Technologies LP now owns 16,384 shares of the medical equipment provider’s stock valued at $4,227,000 after purchasing an additional 10,708 shares in the last quarter. Quantbot Technologies LP boosted its position in ResMed by 244.8% during the second quarter. Quantbot Technologies LP now owns 36,355 shares of the medical equipment provider’s stock worth $9,380,000 after purchasing an additional 25,810 shares in the last quarter. Inspire Investing LLC grew its holdings in ResMed by 29.3% in the first quarter. Inspire Investing LLC now owns 28,578 shares of the medical equipment provider’s stock valued at $6,397,000 after purchasing an additional 6,472 shares during the period. Neuberger Berman Group LLC increased its position in shares of ResMed by 71.2% in the second quarter. Neuberger Berman Group LLC now owns 53,916 shares of the medical equipment provider’s stock valued at $13,910,000 after buying an additional 22,431 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of ResMed by 0.7% during the 2nd quarter. American Century Companies Inc. now owns 175,901 shares of the medical equipment provider’s stock worth $45,382,000 after buying an additional 1,183 shares during the period. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Trading Down 0.9%

Shares of RMD opened at $244.40 on Wednesday. ResMed Inc. has a 52-week low of $199.92 and a 52-week high of $293.81. The stock has a market cap 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. The firm’s fifty day moving average is $252.76 and its two-hundred day moving average is $263.87. The company has a quick ratio of 2.13, a current ratio of 2.89 and a debt-to-equity ratio of 0.07.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.06. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.33 billion. ResMed had a net margin of 27.35% and a return on equity of 25.45%. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period last year, the firm posted $2.20 earnings per share. Research analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, November 13th were given a $0.60 dividend. The ex-dividend date was Thursday, November 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.0%. ResMed’s dividend payout ratio is 24.56%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on RMD shares. KeyCorp lifted their price target on shares of ResMed from $298.00 to $299.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. UBS Group reaffirmed a “buy” rating and set a $345.00 price objective on shares of ResMed in a report on Friday, December 12th. Stifel Nicolaus dropped their target price on shares of ResMed from $270.00 to $260.00 and set a “hold” rating on the stock in a research report on Thursday, December 18th. Mizuho reduced their price target on shares of ResMed from $310.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, October 31st. Finally, Baird R W lowered shares of ResMed from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $296.09.

Insider Buying and Selling

In related news, Director Witte Jan De sold 2,055 shares of ResMed stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $255.00, for a total transaction of $524,025.00. Following the transaction, the director owned 4,261 shares in the company, valued at approximately $1,086,555. This trade represents a 32.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael J. Farrell sold 8,011 shares of the company’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $249.75, for a total value of $2,000,747.25. Following the completion of the sale, the chief executive officer owned 467,866 shares of the company’s stock, valued at approximately $116,849,533.50. The trade was a 1.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 22,662 shares of company stock valued at $5,946,466 over the last ninety days. 0.65% of the stock is currently owned by company insiders.

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.