Forsta AP Fonden Raises Stock Holdings in ResMed Inc. $RMD

Forsta AP Fonden grew its holdings in shares of ResMed Inc. (NYSE:RMD) by 4.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 83,920 shares of the medical equipment provider’s stock after purchasing an additional 3,720 shares during the period. Forsta AP Fonden owned about 0.06% of ResMed worth $20,214,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Norges Bank purchased a new stake in ResMed during the fourth quarter worth about $249,068,000. Eurizon Capital SGR S.p.A. purchased a new stake in ResMed during the fourth quarter worth about $52,077,000. Fideuram Asset Management Ireland dac purchased a new stake in ResMed during the fourth quarter worth about $4,712,000. National Pension Service increased its stake in ResMed by 1.1% during the fourth quarter. National Pension Service now owns 243,543 shares of the medical equipment provider’s stock worth $58,662,000 after purchasing an additional 2,709 shares during the period. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund increased its stake in ResMed by 206.5% during the fourth quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 10,420 shares of the medical equipment provider’s stock worth $2,510,000 after purchasing an additional 7,020 shares during the period. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

ResMed Stock Performance

Shares of ResMed stock opened at $190.58 on Friday. ResMed Inc. has a one year low of $190.38 and a one year high of $293.81. The company has a market cap of $27.64 billion, a PE ratio of 18.38, a P/E/G ratio of 1.21 and a beta of 0.84. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.33 and a current ratio of 3.01. The business has a 50-day simple moving average of $216.93 and a 200-day simple moving average of $239.34.

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

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.3%. ResMed’s payout ratio is currently 23.14%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RMD. KeyCorp cut their price target on shares of ResMed from $302.00 to $290.00 and set an “overweight” rating on the stock in a research note on Monday, April 27th. Evercore set a $255.00 price target on shares of ResMed and gave the stock an “outperform” rating in a research note on Monday, April 13th. JPMorgan Chase & Co. began coverage on shares of ResMed in a research note on Wednesday, April 15th. They set an “overweight” rating on the stock. Wells Fargo & Company cut their price target on shares of ResMed from $270.00 to $227.00 and set an “equal weight” rating on the stock in a research note on Friday, May 1st. Finally, Royal Bank Of Canada boosted their price target on shares of ResMed from $314.00 to $321.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, ResMed has a consensus rating of “Moderate Buy” and a consensus target price of $286.18.

Insider Transactions at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $225.00, for a total value of $450,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $251.03, for a total value of $1,252,890.73. Following the completion of the transaction, the chief executive officer directly owned 466,223 shares of the company’s stock, valued at $117,035,959.69. This trade represents a 1.06% 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 18,973 shares of company stock valued at $4,386,031. Corporate insiders own 0.65% of the company’s stock.

About ResMed

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.