Handelsbanken Fonder AB Has $18.06 Million Position in ResMed Inc. $RMD

Handelsbanken Fonder AB increased its stake in ResMed Inc. (NYSE:RMD) by 6.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 74,976 shares of the medical equipment provider’s stock after purchasing an additional 4,237 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.05% of ResMed worth $18,059,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Terra Nova Asset Management LLC increased its position in ResMed by 0.6% in the 3rd 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 during the period. IMA Advisory Services Inc. increased its position in ResMed by 52.7% in the 3rd quarter. IMA Advisory Services Inc. now owns 139 shares of the medical equipment provider’s stock worth $38,000 after buying an additional 48 shares during the period. Occidental Asset Management LLC increased its position in ResMed by 3.0% in the 4th quarter. Occidental Asset Management LLC now owns 1,699 shares of the medical equipment provider’s stock worth $409,000 after buying an additional 49 shares during the period. New Wave Wealth Advisors LLC increased its position in ResMed by 2.8% in the 3rd quarter. New Wave Wealth Advisors LLC now owns 1,899 shares of the medical equipment provider’s stock worth $520,000 after buying an additional 52 shares during the period. Finally, Wedmont Private Capital increased its position in ResMed by 2.7% in the 4th quarter. Wedmont Private Capital now owns 2,183 shares of the medical equipment provider’s stock worth $542,000 after buying an additional 57 shares during the period. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $207.82, for a total transaction of $1,037,229.62. Following the sale, the chief executive officer directly owned 466,223 shares in the company, valued at approximately $96,890,463.86. The trade was a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total value of $450,000.00. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 18,973 shares of company stock worth $4,386,031. 0.65% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have commented on RMD shares. Wall Street Zen downgraded ResMed from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. KeyCorp dropped their price target on ResMed from $302.00 to $290.00 and set an “overweight” rating on the stock in a research report on Monday, April 27th. Royal Bank Of Canada lifted their price target on ResMed from $314.00 to $321.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Wells Fargo & Company dropped their price target on ResMed from $270.00 to $227.00 and set an “equal weight” rating on the stock in a research report on Friday, May 1st. Finally, Stifel Nicolaus lifted their price target on ResMed from $260.00 to $265.00 and gave the stock a “hold” rating in a research report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $286.18.

ResMed Stock Performance

RMD opened at $209.99 on Thursday. The stock has a market cap of $30.59 billion, a PE ratio of 20.25, a P/E/G ratio of 1.32 and a beta of 0.84. 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 1 year low of $198.61 and a 1 year high of $293.81. The stock’s 50 day simple moving average is $221.14 and its 200-day simple moving average is $241.42.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.07. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.42 billion. ResMed had a return on equity of 25.35% and a net margin of 27.44%.ResMed’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.37 earnings per share. Sell-side 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 will be paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th will be given a dividend of $0.60 per share. The ex-dividend date is 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 currently 23.14%.

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.