Andra AP fonden Cuts Stock Holdings in ResMed Inc. $RMD

Andra AP fonden reduced its stake in ResMed Inc. (NYSE:RMD) by 95.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,681 shares of the medical equipment provider’s stock after selling 90,519 shares during the period. Andra AP fonden’s holdings in ResMed were worth $1,281,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of RMD. Jones Financial Companies Lllp grew its holdings in ResMed by 52.6% during the 1st quarter. Jones Financial Companies Lllp now owns 2,882 shares of the medical equipment provider’s stock worth $645,000 after acquiring an additional 994 shares in the last quarter. World Investment Advisors lifted its position in shares of ResMed by 3.7% during the 2nd quarter. World Investment Advisors now owns 3,631 shares of the medical equipment provider’s stock worth $937,000 after purchasing an additional 131 shares during the last quarter. Assetmark Inc. lifted its position in shares of ResMed by 42.8% during the 2nd quarter. Assetmark Inc. now owns 2,056 shares of the medical equipment provider’s stock worth $531,000 after purchasing an additional 616 shares during the last quarter. Hills Bank & Trust Co purchased a new position in ResMed in the second quarter valued at $102,000. Finally, Regal Partners Ltd acquired a new stake in ResMed in the second quarter valued at $593,000. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Stock Down 0.3%

Shares of ResMed stock opened at $256.34 on Monday. ResMed Inc. has a one year low of $199.92 and a one year high of $293.81. The company has a market cap of $37.34 billion, a P/E ratio of 25.36, a PEG ratio of 1.70 and a beta of 0.88. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.32 and a current ratio of 3.06. The firm has a fifty day moving average of $254.05 and a two-hundred day moving average of $260.86.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, January 29th. The medical equipment provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $0.13. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The business’s revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.43 earnings per share. On average, analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Thursday, February 12th 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 0.9%. The ex-dividend date of this dividend is Thursday, February 12th. ResMed’s dividend payout ratio is 23.74%.

Insider Buying and Selling

In other news, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $248.46, for a total value of $1,240,063.86. Following the completion of the sale, the chief executive officer directly owned 466,223 shares of the company’s stock, valued at $115,837,766.58. This trade represents a 1.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $251.31, for a total value of $502,620.00. Following the completion of the sale, the director owned 64,773 shares in the company, valued at approximately $16,278,102.63. This trade represents a 3.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 16,082 shares of company stock valued at $4,134,807. Company insiders own 0.65% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on RMD. Weiss Ratings upgraded ResMed from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. UBS Group reissued a “buy” rating and set a $345.00 price objective on shares of ResMed in a report on Friday, December 12th. Wells Fargo & Company upped their target price on shares of ResMed from $265.00 to $270.00 and gave the company an “equal weight” rating in a report on Friday, January 30th. Citigroup increased their target price on shares of ResMed from $330.00 to $345.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Finally, KeyCorp reissued an “overweight” rating and issued a $302.00 price target on shares of ResMed in a research report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $299.27.

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.