Livforsakringsbolaget Skandia Omsesidigt Raises Stock Position in ResMed Inc. (NYSE:RMD)

Livforsakringsbolaget Skandia Omsesidigt raised its stake in ResMed Inc. (NYSE:RMD) by 72.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 350 shares of the medical equipment provider’s stock after buying an additional 147 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in ResMed were worth $60,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC purchased a new position in ResMed in the third quarter valued at about $26,000. Compass Wealth Management LLC purchased a new position in ResMed in the fourth quarter valued at about $26,000. International Assets Investment Management LLC purchased a new position in ResMed in the third quarter valued at about $27,000. EverSource Wealth Advisors LLC increased its holdings in ResMed by 224.6% in the third quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider’s stock valued at $27,000 after buying an additional 128 shares in the last quarter. Finally, Riverview Trust Co increased its holdings in ResMed by 255.9% in the third quarter. Riverview Trust Co now owns 210 shares of the medical equipment provider’s stock valued at $31,000 after buying an additional 151 shares in the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ResMed

In other ResMed news, Director Peter C. Farrell sold 10,935 shares of ResMed stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value of $1,997,387.10. Following the transaction, the director now owns 157,404 shares in the company, valued at approximately $28,751,414.64. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other ResMed news, Director Peter C. Farrell sold 10,935 shares of ResMed stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value of $1,997,387.10. Following the transaction, the director now owns 157,404 shares in the company, valued at approximately $28,751,414.64. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Michael J. Rider sold 200 shares of ResMed stock in a transaction on Friday, March 1st. The shares were sold at an average price of $173.25, for a total transaction of $34,650.00. Following the transaction, the general counsel now owns 6,688 shares in the company, valued at approximately $1,158,696. The disclosure for this sale can be found here. Insiders have sold a total of 11,216 shares of company stock worth $2,046,617 in the last quarter. 1.21% of the stock is owned by insiders.

Wall Street Analyst Weigh In

RMD has been the subject of a number of research analyst reports. Needham & Company LLC increased their target price on shares of ResMed from $215.00 to $224.00 and gave the company a “buy” rating in a report on Monday, April 1st. UBS Group raised their price objective on shares of ResMed from $175.00 to $180.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. Mizuho reissued a “buy” rating and set a $215.00 price objective on shares of ResMed in a research note on Wednesday, March 27th. Royal Bank of Canada raised their price objective on shares of ResMed from $181.00 to $182.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 25th. Finally, KeyCorp began coverage on shares of ResMed in a research note on Tuesday, February 6th. They set an “overweight” rating and a $227.00 price objective for the company. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, ResMed has an average rating of “Moderate Buy” and an average price target of $199.20.

ResMed Stock Up 0.7 %

Shares of NYSE RMD opened at $178.85 on Friday. ResMed Inc. has a 1 year low of $132.24 and a 1 year high of $243.52. The firm’s 50 day moving average price is $186.18 and its 200 day moving average price is $170.45. The firm has a market cap of $26.31 billion, a P/E ratio of 29.56, a price-to-earnings-growth ratio of 2.18 and a beta of 0.67. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.89 and a current ratio of 3.11.

ResMed (NYSE:RMD) last announced its earnings results on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.81 by $0.07. ResMed had a net margin of 19.77% and a return on equity of 23.86%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the business earned $1.66 earnings per share. ResMed’s revenue was up 12.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that ResMed Inc. will post 7.47 earnings per share for the current year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Thursday, February 8th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $1.92 dividend on an annualized basis and a yield of 1.07%. ResMed’s dividend payout ratio (DPR) is currently 31.74%.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.