Swedbank AB Has $17.65 Million Stake in ResMed Inc. (NYSE:RMD)

Swedbank AB reduced its position in shares of ResMed Inc. (NYSE:RMD) by 0.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 72,290 shares of the medical equipment provider’s stock after selling 94 shares during the period. Swedbank AB’s holdings in ResMed were worth $17,647,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. OFI Invest Asset Management bought a new stake in shares of ResMed in the second quarter valued at about $32,000. Ashton Thomas Securities LLC acquired a new stake in ResMed in the 3rd quarter worth about $34,000. Versant Capital Management Inc boosted its holdings in ResMed by 196.7% in the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 120 shares during the period. Financial Connections Group Inc. acquired a new position in shares of ResMed during the 2nd quarter worth approximately $37,000. Finally, Blue Trust Inc. increased its holdings in shares of ResMed by 182.7% during the second quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock worth $42,000 after purchasing an additional 137 shares during the period. 54.98% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on RMD shares. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Baird R W raised ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. Wolfe Research reaffirmed an “underperform” rating and issued a $180.00 price target on shares of ResMed in a research note on Wednesday, September 18th. KeyCorp increased their price objective on shares of ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Finally, Robert W. Baird boosted their target price on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $225.70.

ResMed Price Performance

Shares of NYSE:RMD opened at $249.99 on Wednesday. The firm has a 50 day simple moving average of $241.80 and a 200 day simple moving average of $225.04. The company has a market cap of $36.70 billion, a price-to-earnings ratio of 33.11, a PEG ratio of 1.77 and a beta of 0.69. ResMed Inc. has a one year low of $151.95 and a one year high of $260.49. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. ResMed’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.64 EPS. Research analysts predict that ResMed Inc. will post 9.28 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 annualized dividend and a yield of 0.85%. ResMed’s dividend payout ratio is presently 28.08%.

Insiders Place Their Bets

In other ResMed news, insider Kaushik Ghoshal sold 5,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $252.56, for a total transaction of $1,262,800.00. Following the completion of the sale, the insider now owns 21,788 shares of the company’s stock, valued at approximately $5,502,777.28. This represents a 18.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Justin Leong sold 6,160 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the completion of the transaction, the insider now owns 21,718 shares in the company, valued at $5,279,428.62. This trade represents a 22.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,334 shares of company stock valued at $16,379,713 in the last ninety days. 0.71% of the stock is currently owned by insiders.

ResMed Company Profile

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.