Lansforsakringar Fondforvaltning AB publ Boosts Position in ResMed Inc. $RMD

Lansforsakringar Fondforvaltning AB publ lifted its position in ResMed Inc. (NYSE:RMD) by 119.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,733 shares of the medical equipment provider’s stock after purchasing an additional 2,031 shares during the quarter. Lansforsakringar Fondforvaltning AB publ’s holdings in ResMed were worth $836,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Global X Japan Co. Ltd. boosted its holdings in ResMed by 121.4% in the 1st quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 68 shares during the last quarter. Colonial Trust Co SC increased its holdings in shares of ResMed by 6,250.0% during the 4th quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider’s stock worth $29,000 after buying an additional 125 shares during the last quarter. Golden State Wealth Management LLC raised its position in shares of ResMed by 384.8% during the 1st quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider’s stock valued at $36,000 after buying an additional 127 shares during the period. Zions Bancorporation National Association UT acquired a new position in ResMed in the first quarter valued at approximately $45,000. Finally, Groupe la Francaise acquired a new position in ResMed in the first quarter valued at approximately $45,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $279.48, for a total value of $2,238,355.32. Following the completion of the transaction, the chief executive officer directly owned 455,503 shares in the company, valued at approximately $127,303,978.44. This trade represents a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John Hernandez sold 2,575 shares of the business’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $287.10, for a total value of $739,282.50. Following the transaction, the director directly owned 4,045 shares of the company’s stock, valued at $1,161,319.50. The trade was a 38.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,597 shares of company stock worth $7,301,182. Corporate insiders own 0.71% of the company’s stock.

ResMed Stock Down 0.2%

Shares of NYSE:RMD opened at $274.78 on Monday. The firm has a market capitalization of $40.23 billion, a PE ratio of 28.89, a price-to-earnings-growth ratio of 1.83 and a beta of 0.85. ResMed Inc. has a 1 year low of $199.92 and a 1 year high of $293.81. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.44 and a quick ratio of 2.53. The firm’s 50-day moving average is $270.83 and its two-hundred day moving average is $246.09.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, July 31st. The medical equipment provider reported $2.55 EPS for the quarter, beating the consensus estimate of $2.47 by $0.08. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter last year, the firm posted $2.08 earnings per share. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. Analysts predict that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, August 14th will be given a dividend of $0.60 per share. This is an increase from ResMed’s previous quarterly dividend of $0.53. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, August 14th. ResMed’s dividend payout ratio is currently 25.24%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on RMD shares. Royal Bank Of Canada lifted their target price on ResMed from $294.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. KeyCorp boosted their price objective on shares of ResMed from $274.00 to $298.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Stifel Nicolaus upped their target price on shares of ResMed from $240.00 to $270.00 and gave the company a “hold” rating in a research report on Friday, August 1st. Mizuho lifted their price target on shares of ResMed from $270.00 to $290.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Finally, Morgan Stanley set a $286.00 price objective on shares of ResMed and gave the stock an “overweight” rating in a report on Tuesday, May 20th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, ResMed currently has an average rating of “Moderate Buy” and a consensus price target of $274.83.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company 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 ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.