Andra AP fonden Acquires New Shares in ResMed Inc. (NYSE:RMD)

Andra AP fonden bought a new position in ResMed Inc. (NYSE:RMD) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 38,700 shares of the medical equipment provider’s stock, valued at approximately $8,850,000.

Several other large investors have also recently bought and sold shares of the company. State Street Corp grew its holdings in shares of ResMed by 1.9% during the third quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider’s stock worth $1,528,590,000 after purchasing an additional 116,918 shares during the last quarter. Geode Capital Management LLC grew its holdings in ResMed by 10.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock worth $939,114,000 after acquiring an additional 380,383 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in ResMed by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 957,020 shares of the medical equipment provider’s stock worth $218,861,000 after acquiring an additional 32,973 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in ResMed by 0.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 742,411 shares of the medical equipment provider’s stock valued at $181,237,000 after acquiring an additional 2,406 shares during the period. Finally, Los Angeles Capital Management LLC raised its stake in shares of ResMed by 60.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 668,908 shares of the medical equipment provider’s stock valued at $152,973,000 after acquiring an additional 250,746 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors.

Insider Transactions at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $227.71, for a total transaction of $455,420.00. Following the transaction, the director now owns 75,218 shares in the company, valued at approximately $17,127,890.78. This represents a 2.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Kaushik Ghoshal sold 9,113 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the completion of the transaction, the insider now directly owns 9,725 shares in the company, valued at $2,289,265. This trade represents a 48.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,186 shares of company stock valued at $4,996,646 over the last ninety days. 0.71% of the stock is owned by company insiders.

ResMed Stock Up 3.3 %

Shares of NYSE RMD opened at $232.40 on Friday. ResMed Inc. has a 12-month low of $172.19 and a 12-month high of $263.05. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The firm has a market cap of $34.13 billion, a PE ratio of 27.44, a P/E/G ratio of 1.53 and a beta of 0.74. The company’s fifty day simple moving average is $236.70 and its 200 day simple moving average is $239.93.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. As a group, sell-side analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 0.91%. ResMed’s dividend payout ratio is 25.03%.

Analysts Set New Price Targets

Several analysts recently weighed in on RMD shares. Piper Sandler boosted their price objective on shares of ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. increased their price target on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. The Goldman Sachs Group initiated coverage on ResMed in a research note on Thursday, January 16th. They issued a “buy” rating on the stock. Citigroup upgraded ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday. Finally, KeyCorp raised their price target on shares of ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, ResMed currently has an average rating of “Moderate Buy” and a consensus price target of $243.82.

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.