Danske Bank A S Buys New Stake in ResMed Inc. $RMD

Danske Bank A S acquired a new stake in shares of ResMed Inc. (NYSE:RMD) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 161,546 shares of the medical equipment provider’s stock, valued at approximately $44,220,000. Danske Bank A S owned about 0.11% of ResMed as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. SJS Investment Consulting Inc. boosted its stake in ResMed by 1,433.3% during the third quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 86 shares during the last quarter. Imprint Wealth LLC purchased a new position in ResMed during the 3rd quarter valued at approximately $26,000. WFA of San Diego LLC bought a new stake in ResMed in the 2nd quarter worth approximately $26,000. Westside Investment Management Inc. raised its holdings in shares of ResMed by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 132 shares of the medical equipment provider’s stock worth $36,000 after acquiring an additional 66 shares in the last quarter. Finally, GoalVest Advisory LLC purchased a new stake in shares of ResMed during the 3rd quarter worth approximately $37,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Insider Buying and Selling at ResMed

In other news, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $251.03, for a total transaction of $1,252,890.73. Following the transaction, the chief executive officer owned 466,223 shares in the company, valued at approximately $117,035,959.69. This trade represents a 1.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $260.22, for a total value of $520,440.00. Following the completion of the sale, the director owned 62,773 shares of the company’s stock, valued at $16,334,790.06. The trade was a 3.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 21,073 shares of company stock valued at $5,405,198 over the last quarter. Company insiders own 0.65% of the company’s stock.

ResMed Price Performance

Shares of RMD stock opened at $228.15 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.06 and a quick ratio of 2.32. The company has a market capitalization of $33.24 billion, a P/E ratio of 22.57, a P/E/G ratio of 1.55 and a beta of 0.88. The company’s 50-day simple moving average is $254.04 and its two-hundred day simple moving average is $257.39. ResMed Inc. has a one year low of $199.92 and a one year high of $293.81.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, January 29th. The medical equipment provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.13. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The company’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.43 earnings per share. As a group, equities analysts anticipate that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Thursday, February 12th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Thursday, February 12th. ResMed’s dividend payout ratio is currently 23.74%.

Analyst Ratings Changes

A number of research firms recently weighed in on RMD. Citigroup raised their target price on shares of ResMed from $330.00 to $345.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Wall Street Zen cut shares of ResMed from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Robert W. Baird set a $281.00 price target on ResMed in a report on Friday, January 30th. Stifel Nicolaus raised their price target on ResMed from $260.00 to $265.00 and gave the stock a “hold” rating in a research note on Friday, January 30th. Finally, Weiss Ratings raised ResMed from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $299.27.

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.