ResMed Inc. $RMD Shares Acquired by Andra AP fonden

Andra AP fonden increased its position in shares of ResMed Inc. (NYSE:RMD) by 437.8% in the 1st quarter, HoldingsChannel reports. The firm owned 84,343 shares of the medical equipment provider’s stock after purchasing an additional 68,661 shares during the period. Andra AP fonden’s holdings in ResMed were worth $18,933,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Terra Nova Asset Management LLC boosted its holdings in ResMed by 0.6% in the 3rd quarter. Terra Nova Asset Management LLC now owns 7,805 shares of the medical equipment provider’s stock valued at $2,136,000 after purchasing an additional 46 shares in the last quarter. Occidental Asset Management LLC raised its stake in shares of ResMed by 3.0% during the 4th quarter. Occidental Asset Management LLC now owns 1,699 shares of the medical equipment provider’s stock worth $409,000 after buying an additional 49 shares in the last quarter. Kera Capital Partners Inc. raised its stake in shares of ResMed by 6.6% during the 4th quarter. Kera Capital Partners Inc. now owns 841 shares of the medical equipment provider’s stock worth $217,000 after buying an additional 52 shares in the last quarter. Andina Capital Management LLC lifted its holdings in shares of ResMed by 2.9% in the 4th quarter. Andina Capital Management LLC now owns 1,988 shares of the medical equipment provider’s stock valued at $479,000 after buying an additional 56 shares during the period. Finally, Wedmont Private Capital lifted its holdings in shares of ResMed by 2.7% in the 4th quarter. Wedmont Private Capital now owns 2,183 shares of the medical equipment provider’s stock valued at $542,000 after buying an additional 57 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Price Performance

Shares of NYSE:RMD opened at $198.55 on Tuesday. The business’s 50 day simple moving average is $199.39 and its 200-day simple moving average is $226.21. The firm has a market capitalization of $28.80 billion, a price-to-earnings ratio of 19.15, a price-to-earnings-growth ratio of 1.19 and a beta of 0.78. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.01 and a quick ratio of 2.33. ResMed Inc. has a 12 month low of $180.26 and a 12 month high of $293.81.

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

ResMed Announces Dividend

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

Insider Buying and Selling at ResMed

In other news, CEO Michael J. Farrell sold 4,991 shares of ResMed 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 transaction, the chief executive officer owned 466,223 shares of the company’s stock, valued at $101,893,036.65. The trade was a 1.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 14,973 shares of company stock valued at $3,096,067 in the last three months. Company insiders own 0.65% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on RMD. Mizuho decreased their price target on ResMed from $235.00 to $220.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 15th. Robert W. Baird set a $225.00 price objective on ResMed in a research report on Friday, May 1st. Jefferies Financial Group reduced their target price on ResMed from $240.00 to $225.00 and set a “hold” rating for the company in a report on Friday, July 10th. JPMorgan Chase & Co. started coverage on shares of ResMed in a research report on Wednesday, April 15th. They set an “overweight” rating on the stock. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of ResMed in a research note on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine 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 target price of $250.00.

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.