Andra AP fonden Raises Stake in ResMed Inc. $RMD

Andra AP fonden boosted its position in shares of ResMed Inc. (NYSE:RMD) by 437.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 84,343 shares of the medical equipment provider’s stock after acquiring an additional 68,661 shares during the period. Andra AP fonden owned about 0.06% of ResMed worth $18,933,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. International Assets Investment Management LLC acquired a new stake in ResMed in the fourth quarter valued at $25,000. ORG Partners LLC boosted its position in shares of ResMed by 181.6% during the 4th quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock worth $26,000 after acquiring an additional 69 shares in the last quarter. Imprint Wealth LLC acquired a new stake in shares of ResMed during the 3rd quarter worth about $26,000. WFA of San Diego LLC acquired a new stake in shares of ResMed during the 2nd quarter worth about $26,000. Finally, Sunbelt Securities Inc. purchased a new stake in ResMed during the third quarter worth approximately $31,000. 54.98% of the stock is owned by hedge funds and other institutional investors.

ResMed Stock Down 0.2%

RMD stock opened at $198.55 on Tuesday. The company has a market cap of $28.80 billion, a price-to-earnings ratio of 19.15, a price-to-earnings-growth ratio of 1.19 and a beta of 0.78. The company has a fifty day moving average price of $199.39 and a 200 day moving average price of $226.21. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.01 and a quick ratio of 2.33. ResMed Inc. has a 12 month low of $180.26 and a 12 month high of $293.81.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.79 by $0.07. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period last year, the firm posted $2.37 EPS. ResMed’s revenue for the quarter was up 10.8% on a year-over-year basis. Sell-side analysts expect that ResMed Inc. will post 11.13 earnings per share for the current year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, May 14th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.2%. The ex-dividend date was Thursday, May 14th. ResMed’s payout ratio is 23.14%.

Insider Buying and Selling

In other ResMed news, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $218.55, for a total transaction of $1,090,783.05. Following the completion of the sale, the chief executive officer directly owned 466,223 shares of the company’s stock, valued at $101,893,036.65. This represents a 1.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 14,973 shares of company stock worth $3,096,067. 0.65% of the stock is owned by corporate insiders.

Analyst Ratings Changes

RMD has been the subject of several research analyst reports. Jefferies Financial Group lowered their target price on shares of ResMed from $240.00 to $225.00 and set a “hold” rating for the company in a report on Friday, July 10th. Weiss Ratings cut shares of ResMed from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 22nd. Evercore set a $255.00 price objective on shares of ResMed and gave the company an “outperform” rating in a research note on Monday, April 13th. Wells Fargo & Company dropped their price objective on ResMed from $227.00 to $225.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 8th. Finally, Citigroup reiterated a “neutral” rating and set a $235.00 target price (down from $270.00) on shares of ResMed in a research report on Sunday, July 12th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $250.00.

ResMed 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.