Livforsakringsbolaget Skandia Omsesidigt Acquires 874 Shares of ResMed Inc. (NYSE:RMD)

Livforsakringsbolaget Skandia Omsesidigt grew its stake in ResMed Inc. (NYSE:RMD) by 249.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,224 shares of the medical equipment provider’s stock after purchasing an additional 874 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in ResMed were worth $299,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of RMD. JGP Wealth Management LLC boosted its stake in ResMed by 4.6% in the third quarter. JGP Wealth Management LLC now owns 4,109 shares of the medical equipment provider’s stock worth $1,003,000 after purchasing an additional 182 shares in the last quarter. LVW Advisors LLC grew its stake in shares of ResMed by 84.5% during the third quarter. LVW Advisors LLC now owns 2,511 shares of the medical equipment provider’s stock valued at $613,000 after purchasing an additional 1,150 shares during the last quarter. Tobam lifted its holdings in ResMed by 37.2% during the 3rd quarter. Tobam now owns 6,379 shares of the medical equipment provider’s stock worth $1,557,000 after buying an additional 1,728 shares in the last quarter. UMB Bank n.a. boosted its position in ResMed by 1.9% in the 3rd quarter. UMB Bank n.a. now owns 2,465 shares of the medical equipment provider’s stock valued at $602,000 after buying an additional 47 shares during the last quarter. Finally, Wedmont Private Capital increased its stake in shares of ResMed by 9.3% in the 3rd quarter. Wedmont Private Capital now owns 1,980 shares of the medical equipment provider’s stock valued at $460,000 after buying an additional 169 shares during the period. 54.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RMD has been the topic of a number of recent research reports. KeyCorp raised their price objective on shares of ResMed from $238.00 to $251.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Bank of America lifted their price objective on ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Wolfe Research reissued an “underperform” rating and issued a $180.00 target price on shares of ResMed in a research note on Wednesday, September 18th. Citigroup downgraded shares of ResMed from a “buy” rating to a “neutral” rating in a research report on Monday, June 24th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $218.18.

ResMed Price Performance

NYSE:RMD opened at $240.71 on Tuesday. The stock has a market capitalization of $35.36 billion, a PE ratio of 36.98, a P/E/G ratio of 2.14 and a beta of 0.69. The company has a current ratio of 2.59, a quick ratio of 1.69 and a debt-to-equity ratio of 0.14. The firm has a fifty day simple moving average of $236.85 and a 200 day simple moving average of $214.91. ResMed Inc. has a 1-year low of $132.24 and a 1-year high of $255.18.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.05. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.22 billion. ResMed had a return on equity of 25.00% and a net margin of 21.79%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.60 EPS. On average, research analysts expect that ResMed Inc. will post 9.02 EPS for the current fiscal year.

ResMed Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, August 15th were paid a $0.53 dividend. This is a boost from ResMed’s previous quarterly dividend of $0.48. This represents a $2.12 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend was Thursday, August 15th. ResMed’s payout ratio is 32.57%.

Insiders Place Their Bets

In related news, insider Justin Leong sold 48,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $217.07, for a total value of $10,419,360.00. Following the completion of the transaction, the insider now owns 18,741 shares of the company’s stock, valued at $4,068,108.87. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Kaushik Ghoshal sold 5,000 shares of ResMed stock in a transaction 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 transaction, the insider now owns 21,788 shares of the company’s stock, valued at $5,502,777.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Justin Leong sold 48,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $217.07, for a total value of $10,419,360.00. Following the completion of the transaction, the insider now directly owns 18,741 shares in the company, valued at $4,068,108.87. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 119,614 shares of company stock worth $27,135,217 in the last 90 days. Company insiders own 1.21% of the company’s stock.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.