Forsta AP Fonden Sells 4,800 Shares of ResMed Inc. $RMD

Forsta AP Fonden lowered its position in ResMed Inc. (NYSE:RMD) by 8.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,200 shares of the medical equipment provider’s stock after selling 4,800 shares during the period. Forsta AP Fonden’s holdings in ResMed were worth $12,952,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. ICW Investment Advisors LLC raised its holdings in shares of ResMed by 0.4% in the first quarter. ICW Investment Advisors LLC now owns 11,394 shares of the medical equipment provider’s stock worth $2,551,000 after buying an additional 41 shares during the period. Johnson Investment Counsel Inc. increased its stake in ResMed by 2.8% in the second quarter. Johnson Investment Counsel Inc. now owns 1,665 shares of the medical equipment provider’s stock worth $430,000 after purchasing an additional 45 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of ResMed by 3.9% during the first quarter. Smartleaf Asset Management LLC now owns 1,222 shares of the medical equipment provider’s stock worth $269,000 after purchasing an additional 46 shares during the last quarter. E Fund Management Co. Ltd. lifted its position in shares of ResMed by 2.8% during the first quarter. E Fund Management Co. Ltd. now owns 1,719 shares of the medical equipment provider’s stock worth $385,000 after purchasing an additional 47 shares during the last quarter. Finally, V Square Quantitative Management LLC boosted its stake in shares of ResMed by 3.0% during the second quarter. V Square Quantitative Management LLC now owns 1,747 shares of the medical equipment provider’s stock valued at $451,000 after purchasing an additional 51 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Trading Up 0.1%

NYSE:RMD opened at $252.58 on Thursday. The firm has a 50-day simple moving average of $267.36 and a 200-day simple moving average of $262.80. ResMed Inc. has a one year low of $199.92 and a one year high of $293.81. The firm has a market cap of $36.86 billion, a P/E ratio of 26.56, a P/E/G ratio of 1.75 and a beta of 0.87. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.53 and a current ratio of 3.44.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, October 30th. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.06. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.33 billion. ResMed had a net margin of 27.22% and a return on equity of 25.62%. ResMed’s revenue was up 9.1% compared to the same quarter last year. During the same period last year, the company posted $2.20 earnings per share. Equities analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, November 13th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Thursday, November 13th. ResMed’s dividend payout ratio is 24.56%.

Insider Activity at ResMed

In other ResMed news, CEO Michael J. Farrell sold 8,011 shares of ResMed stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $249.75, for a total value of $2,000,747.25. Following the transaction, the chief executive officer owned 467,866 shares in the company, valued at $116,849,533.50. The trade was a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Hernandez sold 2,575 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $287.10, for a total transaction of $739,282.50. Following the sale, the director directly owned 4,045 shares of the company’s stock, valued at approximately $1,161,319.50. The trade was a 38.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 18,695 shares of company stock valued at $5,032,811 over the last quarter. 0.65% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

RMD has been the subject of a number of research analyst reports. Piper Sandler lifted their price objective on shares of ResMed from $248.00 to $270.00 and gave the company a “neutral” rating in a report on Friday, August 1st. Wells Fargo & Company started coverage on shares of ResMed in a research report on Monday, October 13th. They set an “equal weight” rating and a $280.00 target price on the stock. William Blair upgraded ResMed to a “strong-buy” rating in a report on Friday, August 1st. CLSA raised ResMed from a “hold” rating to an “outperform” rating in a research note on Tuesday, September 2nd. Finally, Robert W. Baird reduced their price objective on ResMed from $320.00 to $300.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, ResMed presently has a consensus rating of “Moderate Buy” and a consensus price target of $297.45.

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.