Fjarde AP Fonden Fourth Swedish National Pension Fund Has $6.81 Million Stock Holdings in ResMed Inc. (NYSE:RMD)

Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its position in ResMed Inc. (NYSE:RMD) by 13.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 29,792 shares of the medical equipment provider’s stock after selling 4,500 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in ResMed were worth $6,813,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Howard Capital Management Inc. raised its position in ResMed by 5.3% in the 4th quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider’s stock valued at $206,000 after buying an additional 45 shares during the last quarter. First Horizon Advisors Inc. raised its position in ResMed by 285.1% in the 4th quarter. First Horizon Advisors Inc. now owns 593 shares of the medical equipment provider’s stock valued at $136,000 after buying an additional 439 shares during the last quarter. Olympiad Research LP acquired a new stake in ResMed in the 4th quarter valued at approximately $328,000. Transcend Capital Advisors LLC acquired a new stake in ResMed in the 4th quarter valued at approximately $335,000. Finally, Arcadia Investment Management Corp MI acquired a new stake in ResMed in the 4th quarter valued at approximately $114,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. KeyCorp lifted their target price on ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. UBS Group raised ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. The Goldman Sachs Group assumed coverage on ResMed in a research report on Thursday, January 16th. They set a “buy” rating on the stock. JPMorgan Chase & Co. boosted their price target on ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, Piper Sandler boosted their price target on ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $244.73.

ResMed Stock Performance

Shares of NYSE RMD opened at $229.47 on Tuesday. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 12 month low of $170.56 and a 12 month high of $263.05. The stock has a 50 day moving average of $237.20 and a 200-day moving average of $239.52. The company has a market capitalization of $33.70 billion, a P/E ratio of 27.09, a P/E/G ratio of 1.53 and a beta of 0.70.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. As a group, equities research analysts predict that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be paid a $0.53 dividend. The ex-dividend date is Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 0.92%. ResMed’s dividend payout ratio (DPR) is presently 25.03%.

Insider Activity at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total value of $484,220.00. Following the completion of the sale, the director now directly owns 77,218 shares in the company, valued at $18,695,249.98. The trade was a 2.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $236.77, for a total value of $1,896,290.93. Following the sale, the chief executive officer now owns 455,472 shares of the company’s stock, valued at approximately $107,842,105.44. The trade was a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,147 shares of company stock worth $2,905,745 in the last ninety days. 0.71% of the stock is owned by company insiders.

About ResMed

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.