Arbejdsmarkedets Tillaegspension Grows Stock Holdings in ResMed Inc. $RMD

Arbejdsmarkedets Tillaegspension boosted its stake in shares of ResMed Inc. (NYSE:RMD) by 17.7% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 111,091 shares of the medical equipment provider’s stock after purchasing an additional 16,742 shares during the quarter. Arbejdsmarkedets Tillaegspension’s holdings in ResMed were worth $24,938,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Hsbc Holdings PLC grew its holdings in ResMed by 17.6% in the fourth quarter. Hsbc Holdings PLC now owns 328,785 shares of the medical equipment provider’s stock valued at $79,321,000 after purchasing an additional 49,253 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of ResMed by 37.2% during the 4th quarter. Nordea Investment Management AB now owns 1,084,996 shares of the medical equipment provider’s stock worth $262,027,000 after buying an additional 294,124 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of ResMed by 13.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 979,087 shares of the medical equipment provider’s stock worth $235,833,000 after buying an additional 118,296 shares during the last quarter. Fideuram Asset Management Ireland dac purchased a new stake in shares of ResMed in the 4th quarter worth about $4,712,000. Finally, Regatta Capital Group LLC purchased a new stake in shares of ResMed in the 4th quarter worth about $2,508,000. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction 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 in the company, valued at $101,893,036.65. This represents a 1.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 14,973 shares of company stock worth $3,096,067. 0.65% of the stock is owned by insiders.

ResMed Price Performance

RMD stock opened at $198.38 on Tuesday. The stock has a market capitalization of $28.78 billion, a price-to-earnings ratio of 19.13, a price-to-earnings-growth ratio of 1.22 and a beta of 0.78. The company has a quick ratio of 2.33, a current ratio of 3.01 and a debt-to-equity ratio of 0.06. ResMed Inc. has a 52-week low of $180.26 and a 52-week high of $293.81. The stock’s fifty day simple moving average is $200.16 and its 200-day simple moving average is $227.81.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported $2.86 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the prior year, the company posted $2.37 EPS. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. Equities research analysts expect that ResMed Inc. will post 11.13 EPS for the current year.

ResMed Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Royal Bank Of Canada dropped their target price on shares of ResMed from $321.00 to $276.00 and set an “outperform” rating for the company in a report on Wednesday, July 8th. Robert W. Baird set a $225.00 target price on shares of ResMed in a research report on Friday, May 1st. Evercore set a $255.00 price target on shares of ResMed and gave the company an “outperform” rating in a report on Monday, April 13th. The Goldman Sachs Group reiterated a “buy” rating on shares of ResMed in a research report on Wednesday, July 1st. Finally, Weiss Ratings cut shares of ResMed from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $260.17.

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.