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

Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of ResMed Inc. (NYSE:RMD) by 72.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund 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 quarter.

Other institutional investors have also modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC purchased a new position in shares of ResMed during the 3rd quarter valued at about $26,000. Compass Wealth Management LLC purchased a new position in shares of ResMed in the 4th quarter valued at about $26,000. International Assets Investment Management LLC purchased a new position in shares of ResMed in the 3rd quarter valued at about $27,000. EverSource Wealth Advisors LLC increased its stake in shares of ResMed by 224.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 128 shares in the last quarter. Finally, Riverview Trust Co increased its stake in shares of ResMed by 255.9% in the 3rd quarter. Riverview Trust Co now owns 210 shares of the medical equipment provider’s stock valued at $31,000 after purchasing an additional 151 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Insider Transactions at ResMed

In other news, General Counsel Michael J. Rider sold 200 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $173.25, for a total transaction of $34,650.00. Following the transaction, the general counsel now directly owns 6,688 shares in the company, valued at approximately $1,158,696. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Peter C. Farrell sold 10,935 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total value of $1,997,387.10. Following the transaction, the director now directly owns 157,404 shares in the company, valued at $28,751,414.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Michael J. Rider sold 200 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $173.25, for a total value of $34,650.00. Following the completion of the transaction, the general counsel now owns 6,688 shares in the company, valued at $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 ninety days. Insiders own 1.21% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on RMD shares. Mizuho restated a “buy” rating and issued a $215.00 price target on shares of ResMed in a research note on Wednesday, March 27th. Royal Bank of Canada lifted their price target on ResMed from $181.00 to $182.00 and gave the company a “sector perform” rating in a research note on Thursday, January 25th. Needham & Company LLC lifted their price target on ResMed from $215.00 to $224.00 and gave the company a “buy” rating in a research note on Monday, April 1st. JPMorgan Chase & Co. lifted their price target on ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a research note on Tuesday, January 9th. Finally, KeyCorp initiated coverage on ResMed in a report on Tuesday, February 6th. They issued an “overweight” rating and a $227.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $199.20.

ResMed Trading Up 0.7 %

RMD stock opened at $178.85 on Friday. The stock has a market cap of $26.31 billion, a price-to-earnings ratio of 29.56, a PEG ratio of 2.18 and a beta of 0.67. The business’s 50-day moving average is $186.18 and its 200 day moving average is $170.45. ResMed Inc. has a 12-month low of $132.24 and a 12-month high of $243.52. The company has a current ratio of 3.11, a quick ratio of 1.89 and a debt-to-equity ratio of 0.27.

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

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Thursday, February 8th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.07%. The ex-dividend date was Wednesday, February 7th. ResMed’s dividend payout ratio 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.