Nykredit A S Takes Position in ResMed Inc. $RMD

Nykredit A S acquired a new stake in shares of ResMed Inc. (NYSE:RMD) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 338,702 shares of the medical equipment provider’s stock, valued at approximately $66,006,000.

A number of other institutional investors have also added to or reduced their stakes in RMD. Bell Investment Advisors Inc bought a new stake in ResMed in the second quarter valued at approximately $26,000. Reflection Asset Management bought a new position in ResMed in the 4th quarter worth about $34,000. Trust Co. of Vermont bought a new position in shares of ResMed during the second quarter valued at $39,000. Kelleher Financial Advisors bought a new position in ResMed during the second quarter valued at approximately $47,000. Finally, MV Capital Management Inc. purchased a new position in ResMed in the fourth quarter worth about $52,000. 54.98% of the stock is currently owned by institutional investors.

ResMed Stock Down 1.3%

ResMed stock opened at $225.35 on Friday. The company has a quick ratio of 2.42, a current ratio of 3.10 and a debt-to-equity ratio of 0.06. The firm has a market cap of $32.51 billion, a price-to-earnings ratio of 21.61, a price-to-earnings-growth ratio of 1.44 and a beta of 0.77. The business’s 50-day moving average price is $218.95 and its 200 day moving average price is $216.00. ResMed Inc. has a 52 week low of $180.26 and a 52 week high of $284.87.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, August 6th. The medical equipment provider reported $2.95 EPS for the quarter, beating analysts’ consensus estimates of $2.89 by $0.06. ResMed had a return on equity of 25.58% and a net margin of 26.94%.The business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the previous year, the business earned $2.55 earnings per share. The business’s revenue was up 8.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that ResMed Inc. will post 12.02 earnings per share for the current year.

ResMed Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, August 20th will be given a dividend of $0.66 per share. This is a boost from ResMed’s previous quarterly dividend of $0.60. This represents a $2.64 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Thursday, August 20th. ResMed’s dividend payout ratio (DPR) is currently 25.31%.

Insiders Place Their Bets

In related news, Director Peter C. Farrell sold 8,000 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $225.00, for a total transaction of $1,800,000.00. Following the completion of the transaction, the director owned 52,773 shares in the company, valued at $11,873,925. This represents a 13.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael J. Farrell sold 4,991 shares of the firm’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 transaction, the chief executive officer owned 466,256 shares in the company, valued at approximately $95,904,196.64. This trade represents a 1.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 23,943 shares of company stock valued at $5,255,268 over the last 90 days. 0.65% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on RMD shares. Weiss Ratings raised shares of ResMed from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Piper Sandler decreased their target price on shares of ResMed from $233.00 to $225.00 and set a “neutral” rating on the stock in a research report on Friday, August 7th. Wells Fargo & Company lowered their price target on ResMed from $225.00 to $215.00 and set an “equal weight” rating for the company in a research report on Friday, August 7th. KeyCorp raised their price objective on shares of ResMed from $255.00 to $267.00 and gave the stock an “overweight” rating in a research note on Monday, August 31st. Finally, Royal Bank Of Canada raised shares of ResMed from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $244.00 to $262.00 in a research note on Tuesday. Seven investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $241.69.

ResMed Profile

ResMed Inc is a medical equipment and software company that develops products and services for the diagnosis and treatment of sleep-disordered breathing and other respiratory conditions. Its offerings include continuous positive airway pressure (CPAP) and other positive airway pressure devices, masks, ventilation systems, oxygen-related solutions, and connected health technologies.

The company also provides cloud-based software and digital health platforms that help clinicians, home medical equipment providers, and patients monitor therapy, manage equipment, and support adherence to treatment.