Handelsbanken Fonder AB Increases Holdings in ResMed Inc. (NYSE:RMD)

Handelsbanken Fonder AB raised its stake in shares of ResMed Inc. (NYSE:RMD) by 22.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 70,272 shares of the medical equipment provider’s stock after buying an additional 12,899 shares during the quarter. Handelsbanken Fonder AB’s holdings in ResMed were worth $12,088,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in RMD. EverSource Wealth Advisors LLC raised its stake in ResMed by 224.6% during 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 during the last quarter. Riverview Trust Co raised its stake in shares of ResMed by 255.9% in the third quarter. Riverview Trust Co now owns 210 shares of the medical equipment provider’s stock worth $31,000 after purchasing an additional 151 shares during the last quarter. Operose Advisors LLC purchased a new position in shares of ResMed in the third quarter worth $32,000. Planned Solutions Inc. purchased a new position in shares of ResMed in the fourth quarter worth $34,000. Finally, MV Capital Management Inc. raised its stake in shares of ResMed by 39.0% in the fourth quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock worth $37,000 after purchasing an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Insider Buying and Selling

In other ResMed news, General Counsel Michael J. Rider sold 200 shares of the company’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 sale, the general counsel now directly owns 6,688 shares in the company, valued at $1,158,696. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other ResMed news, General Counsel Michael J. Rider sold 200 shares of the company’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 sale, the general counsel now directly owns 6,688 shares in the company, valued at $1,158,696. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Peter C. Farrell sold 10,935 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 157,404 shares in the company, valued at $28,751,414.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,216 shares of company stock worth $2,046,617. Corporate insiders own 1.21% of the company’s stock.

ResMed Price Performance

NYSE:RMD opened at $184.14 on Wednesday. The company has a current ratio of 3.11, a quick ratio of 1.89 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $27.09 billion, a P/E ratio of 30.44, a P/E/G ratio of 2.21 and a beta of 0.67. ResMed Inc. has a 12 month low of $132.24 and a 12 month high of $243.52. The business’s 50-day moving average is $186.24 and its 200 day moving average is $171.30.

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

Analysts Set New Price Targets

Several research firms have recently weighed in on RMD. KeyCorp began coverage on ResMed in a research note on Tuesday, February 6th. They issued an “overweight” rating and a $227.00 price target for the company. Oppenheimer lifted their price objective on ResMed from $185.00 to $205.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. Needham & Company LLC boosted their price target on ResMed from $215.00 to $224.00 and gave the company a “buy” rating in a report on Monday, April 1st. UBS Group upped their price objective on ResMed from $175.00 to $180.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. Finally, Mizuho reaffirmed a “buy” rating and issued a $215.00 price objective on shares of ResMed in a research note on Wednesday, March 27th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $199.20.

ResMed Profile

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.