Forsta AP Fonden Raises Stock Position in ResMed Inc. (NYSE:RMD)

Forsta AP Fonden lifted its position in ResMed Inc. (NYSE:RMD) by 111.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,700 shares of the medical equipment provider’s stock after acquiring an additional 29,900 shares during the quarter. Forsta AP Fonden’s holdings in ResMed were worth $13,842,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its holdings in shares of ResMed by 51.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider’s stock worth $1,105,022,000 after acquiring an additional 1,959,642 shares during the last quarter. Los Angeles Capital Management LLC lifted its holdings in shares of ResMed by 48.3% in the 2nd quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider’s stock worth $141,694,000 after acquiring an additional 241,195 shares during the last quarter. Greenvale Capital LLP lifted its holdings in shares of ResMed by 61.1% in the 2nd quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock worth $138,780,000 after acquiring an additional 275,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of ResMed by 19.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 661,717 shares of the medical equipment provider’s stock worth $126,670,000 after acquiring an additional 107,279 shares during the last quarter. Finally, Tandem Investment Advisors Inc. lifted its holdings in shares of ResMed by 3.0% in the 2nd quarter. Tandem Investment Advisors Inc. now owns 501,391 shares of the medical equipment provider’s stock worth $95,976,000 after acquiring an additional 14,590 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on RMD shares. Bank of America lifted their price objective on shares of ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Baird R W upgraded shares of ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. Royal Bank of Canada lifted their price objective on shares of ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a report on Friday. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a report on Friday. Finally, Robert W. Baird lifted their price objective on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a report on Friday. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, ResMed has a consensus rating of “Moderate Buy” and an average target price of $220.55.

Insider Transactions at ResMed

In other news, CEO Michael J. Farrell sold 14,683 shares of ResMed stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $214.25, for a total value of $3,145,832.75. Following the transaction, the chief executive officer now owns 440,799 shares of the company’s stock, valued at $94,441,185.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $239.90, for a total transaction of $479,800.00. Following the sale, the director now owns 87,204 shares of the company’s stock, valued at approximately $20,920,239.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $214.25, for a total transaction of $3,145,832.75. Following the sale, the chief executive officer now directly owns 440,799 shares in the company, valued at approximately $94,441,185.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 123,874 shares of company stock valued at $28,151,142 in the last 90 days. Insiders own 0.71% of the company’s stock.

ResMed Trading Up 7.1 %

NYSE:RMD opened at $256.07 on Friday. ResMed Inc. has a one year low of $132.24 and a one year high of $260.49. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.69 and a current ratio of 2.59. The firm has a market cap of $37.58 billion, a P/E ratio of 36.95, a P/E/G ratio of 1.94 and a beta of 0.69. The firm has a 50-day simple moving average of $240.79 and a 200-day simple moving average of $217.83.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, beating the consensus estimate of $2.03 by $0.17. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the business posted $1.64 EPS. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. Equities analysts anticipate that ResMed Inc. will post 9.08 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date is Thursday, November 7th. ResMed’s payout ratio is currently 30.59%.

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.