Handelsbanken Fonder AB Buys 4,237 Shares of ResMed Inc. $RMD

Handelsbanken Fonder AB raised its stake in ResMed Inc. (NYSE:RMD) by 6.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 74,976 shares of the medical equipment provider’s stock after acquiring an additional 4,237 shares during the period. Handelsbanken Fonder AB’s holdings in ResMed were worth $18,059,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of RMD. Jones Financial Companies Lllp grew its position in ResMed by 52.6% in the first quarter. Jones Financial Companies Lllp now owns 2,882 shares of the medical equipment provider’s stock valued at $645,000 after acquiring an additional 994 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in ResMed in the second quarter valued at $389,000. Brown Advisory Inc. grew its position in ResMed by 17.8% in the second quarter. Brown Advisory Inc. now owns 1,586 shares of the medical equipment provider’s stock valued at $409,000 after acquiring an additional 240 shares during the period. Cresset Asset Management LLC bought a new stake in ResMed in the second quarter valued at $206,000. Finally, Alliancebernstein L.P. grew its position in ResMed by 24.2% in the second quarter. Alliancebernstein L.P. now owns 286,078 shares of the medical equipment provider’s stock valued at $73,808,000 after acquiring an additional 55,790 shares during the period. 54.98% of the stock is currently owned by institutional investors.

ResMed Price Performance

ResMed stock opened at $209.99 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.33 and a current ratio of 3.01. ResMed Inc. has a 52 week low of $198.61 and a 52 week high of $293.81. The firm has a market cap of $30.59 billion, a P/E ratio of 20.25, a P/E/G ratio of 1.32 and a beta of 0.84. The business’s fifty day moving average is $221.14 and its two-hundred day moving average is $241.42.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.07. ResMed had a return on equity of 25.35% and a net margin of 27.44%.The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the prior year, the firm posted $2.37 earnings per share. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. Equities research analysts forecast that ResMed Inc. will post 11.13 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, May 14th. ResMed’s dividend payout ratio is 23.14%.

Insider Buying and Selling at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $225.00, for a total transaction of $450,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $251.03, for a total value of $1,252,890.73. Following the transaction, the chief executive officer directly owned 466,223 shares in the company, valued at $117,035,959.69. This trade represents a 1.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 18,973 shares of company stock worth $4,386,031 in the last ninety days. 0.65% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RMD. Citigroup lowered their price target on ResMed from $345.00 to $340.00 and set a “buy” rating on the stock in a research report on Thursday, April 9th. Robert W. Baird set a $225.00 price objective on ResMed in a research note on Friday, May 1st. Evercore set a $255.00 price objective on ResMed and gave the stock an “outperform” rating in a research note on Monday, April 13th. JPMorgan Chase & Co. started coverage on ResMed in a research note on Wednesday, April 15th. They issued an “overweight” rating on the stock. Finally, Piper Sandler boosted their price objective on ResMed from $270.00 to $275.00 and gave the stock a “neutral” rating in a research note on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $286.18.

ResMed Company Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.