Handelsbanken Fonder AB Raises Stock Position in ResMed Inc. $RMD

Handelsbanken Fonder AB lifted its position in ResMed Inc. (NYSE:RMD) by 36.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 94,895 shares of the medical equipment provider’s stock after purchasing an additional 25,419 shares during the period. Handelsbanken Fonder AB owned 0.07% of ResMed worth $18,493,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Czech National Bank increased its holdings in ResMed by 4.1% during the 2nd quarter. Czech National Bank now owns 41,288 shares of the medical equipment provider’s stock worth $8,046,000 after purchasing an additional 1,613 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab lifted its holdings in shares of ResMed by 1.6% in the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 28,330 shares of the medical equipment provider’s stock worth $5,521,000 after buying an additional 450 shares during the period. Assenagon Asset Management S.A. grew its position in shares of ResMed by 48.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 83,852 shares of the medical equipment provider’s stock worth $16,341,000 after buying an additional 27,282 shares in the last quarter. JGP Wealth Management LLC grew its position in shares of ResMed by 9.5% during the 2nd quarter. JGP Wealth Management LLC now owns 4,767 shares of the medical equipment provider’s stock worth $929,000 after buying an additional 415 shares in the last quarter. Finally, Harbor Investment Advisory LLC increased its stake in shares of ResMed by 82.6% during the second quarter. Harbor Investment Advisory LLC now owns 409 shares of the medical equipment provider’s stock valued at $80,000 after buying an additional 185 shares during the period. Institutional investors own 54.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on RMD shares. Citigroup reaffirmed a “neutral” rating and issued a $235.00 price objective (down from $270.00) on shares of ResMed in a research note on Sunday, July 12th. UBS Group reissued a “buy” rating and set a $300.00 target price on shares of ResMed in a research report on Tuesday, July 21st. Weiss Ratings upgraded shares of ResMed from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday. Mizuho reduced their price target on shares of ResMed from $235.00 to $220.00 and set an “outperform” rating for the company in a report on Wednesday, July 15th. Finally, Royal Bank Of Canada upped their price target on shares of ResMed from $234.00 to $244.00 and gave the stock a “sector perform” rating in a research report on Friday, August 7th. Seven equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $240.17.

ResMed Trading Up 0.3%

Shares of NYSE RMD opened at $225.43 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.10 and a quick ratio of 2.42. The stock has a market capitalization of $32.70 billion, a P/E ratio of 21.61, a price-to-earnings-growth ratio of 1.41 and a beta of 0.76. ResMed Inc. has a 1-year low of $180.26 and a 1-year high of $293.81. The business has a fifty day moving average price of $202.77 and a 200 day moving average price of $221.29.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, August 6th. The medical equipment provider reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.06. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.46 billion. ResMed had a return on equity of 25.58% and a net margin of 26.94%.The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.55 earnings per share. Equities research analysts expect that ResMed Inc. will post 12.03 EPS for the current fiscal year.

ResMed Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, August 20th will be issued a $0.66 dividend. The ex-dividend date is Thursday, August 20th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.2%. This is an increase from ResMed’s previous quarterly dividend of $0.60. ResMed’s dividend payout ratio (DPR) is 25.31%.

Insider Buying and Selling

In related news, Director Peter C. Farrell sold 8,000 shares of the stock in a transaction that occurred on 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 sale, the director owned 52,773 shares of the company’s stock, valued at $11,873,925. This represents a 13.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $205.69, for a total transaction of $1,026,598.79. Following the sale, the chief executive officer directly owned 466,256 shares of the company’s stock, valued at $95,904,196.64. The trade was 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. In the last ninety days, insiders sold 22,973 shares of company stock worth $4,885,436. Insiders own 0.65% of the company’s stock.

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.