E. Ohman J or Asset Management AB Has $1.42 Million Position in ResMed Inc. (NYSE:RMD)

E. Ohman J or Asset Management AB grew its holdings in ResMed Inc. (NYSE:RMD) by 12.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 6,200 shares of the medical equipment provider’s stock after buying an additional 700 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in ResMed were worth $1,418,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. UMB Bank n.a. increased its stake in ResMed by 1.9% in the third quarter. UMB Bank n.a. now owns 2,465 shares of the medical equipment provider’s stock valued at $602,000 after purchasing an additional 47 shares in the last quarter. Ascent Group LLC grew its holdings in shares of ResMed by 1.7% in the 3rd quarter. Ascent Group LLC now owns 2,924 shares of the medical equipment provider’s stock valued at $714,000 after buying an additional 48 shares during the period. SkyView Investment Advisors LLC increased its position in shares of ResMed by 2.0% in the 3rd quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider’s stock valued at $637,000 after buying an additional 51 shares in the last quarter. Wedmont Private Capital raised its stake in ResMed by 2.6% during the 4th quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider’s stock worth $475,000 after buying an additional 52 shares during the period. Finally, Concurrent Investment Advisors LLC lifted its holdings in ResMed by 3.1% during the third quarter. Concurrent Investment Advisors LLC now owns 1,919 shares of the medical equipment provider’s stock worth $469,000 after acquiring an additional 57 shares in the last quarter. 54.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. The Goldman Sachs Group began coverage on ResMed in a report on Thursday, January 16th. They issued a “buy” rating for the company. Robert W. Baird raised their target price on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a report on Friday, January 31st. Piper Sandler raised their price objective on shares of ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Finally, KeyCorp upped their target price on shares of ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, ResMed currently has an average rating of “Moderate Buy” and an average price target of $244.73.

ResMed Price Performance

Shares of NYSE RMD opened at $240.73 on Wednesday. ResMed Inc. has a fifty-two week low of $170.56 and a fifty-two week high of $263.05. The stock has a market capitalization of $35.34 billion, a price-to-earnings ratio of 28.42, a PEG ratio of 1.69 and a beta of 0.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The business has a 50-day moving average of $240.00 and a 200-day moving average of $236.89.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates 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 predict that ResMed Inc. will post 9.41 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.88%. The ex-dividend date is Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is currently 25.03%.

Insider Buying and Selling at ResMed

In other news, insider Justin Leong sold 6,160 shares of the firm’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 value of $1,497,434.40. Following the completion of the sale, the insider now directly owns 21,718 shares of the company’s stock, valued at $5,279,428.62. This trade represents a 22.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Witte Jan De sold 796 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total value of $198,052.76. Following the transaction, the director now directly owns 6,723 shares in the company, valued at $1,672,749.63. The trade was a 10.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,094 shares of company stock worth $2,220,721 over the last quarter. 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.