ResMed Inc. $RMD Shares Bought by Handelsbanken Fonder AB

Handelsbanken Fonder AB raised its holdings in ResMed Inc. (NYSE:RMD) by 36.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 94,895 shares of the medical equipment provider’s stock after buying an additional 25,419 shares during the quarter. Handelsbanken Fonder AB’s holdings in ResMed were worth $18,493,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Czech National Bank grew its stake in shares of ResMed by 4.1% during the second quarter. Czech National Bank now owns 41,288 shares of the medical equipment provider’s stock worth $8,046,000 after acquiring an additional 1,613 shares during the last quarter. PensionDanmark Pensionsforsikringsaktieselskab raised its position in shares of ResMed by 1.6% in the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 28,330 shares of the medical equipment provider’s stock valued at $5,521,000 after purchasing an additional 450 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of ResMed by 48.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 83,852 shares of the medical equipment provider’s stock valued at $16,341,000 after purchasing an additional 27,282 shares during the last quarter. JGP Wealth Management LLC boosted its stake in ResMed by 9.5% in the 2nd quarter. JGP Wealth Management LLC now owns 4,767 shares of the medical equipment provider’s stock worth $929,000 after purchasing an additional 415 shares in the last quarter. Finally, Harbor Investment Advisory LLC boosted its stake in ResMed by 82.6% in the 2nd quarter. Harbor Investment Advisory LLC now owns 409 shares of the medical equipment provider’s stock worth $80,000 after purchasing an additional 185 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Activity

In other news, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $205.69, for a total value of $1,026,598.79. Following the completion of the transaction, the chief executive officer owned 466,256 shares of the company’s stock, valued at $95,904,196.64. The trade was a 1.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 8,000 shares of the company’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $225.00, for a total value of $1,800,000.00. Following the completion of the sale, the director owned 52,773 shares in the company, valued at $11,873,925. The trade was a 13.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 22,973 shares of company stock worth $4,885,436 over the last ninety days. 0.65% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Weiss Ratings upgraded shares of ResMed from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday. Royal Bank Of Canada lifted their price objective on shares of ResMed from $234.00 to $244.00 and gave the stock a “sector perform” rating in a research note on Friday, August 7th. Morgan Stanley reissued an “equal weight” rating and set a $230.00 price objective (down from $286.00) on shares of ResMed in a report on Wednesday, June 17th. KeyCorp dropped their price objective on shares of ResMed from $260.00 to $255.00 and set an “overweight” rating on the stock in a report on Friday, August 7th. Finally, Jefferies Financial Group cut their target price on ResMed from $240.00 to $225.00 and set a “hold” rating on the stock in a research report on Friday, July 10th. Seven analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, ResMed presently has a consensus rating of “Hold” and a consensus price target of $240.17.

ResMed Stock Performance

Shares of NYSE RMD opened at $225.43 on Thursday. The company has a current ratio of 3.10, a quick ratio of 2.42 and a debt-to-equity ratio of 0.06. ResMed Inc. has a 12 month low of $180.26 and a 12 month high of $293.81. The company has a 50 day simple moving average of $202.77 and a two-hundred day simple moving average of $221.29. The stock has a market cap of $32.70 billion, a price-to-earnings ratio of 21.61, a PEG ratio of 1.41 and a beta of 0.76.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, August 6th. The medical equipment provider reported $2.95 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.06. ResMed had a net margin of 26.94% and a return on equity of 25.58%. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the prior year, the business earned $2.55 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, analysts predict that ResMed Inc. will post 12.03 earnings per share for the current year.

ResMed Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, August 20th will be given a dividend of $0.66 per share. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $2.64 annualized dividend and a yield of 1.2%. This is an increase from ResMed’s previous quarterly dividend of $0.60. ResMed’s payout ratio is 25.31%.

About ResMed

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.