ResMed Inc. (NYSE:RMD) Shares Bought by Nordea Investment Management AB

Nordea Investment Management AB grew its holdings in ResMed Inc. (NYSE:RMD) by 92.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 448,151 shares of the medical equipment provider’s stock after buying an additional 215,561 shares during the period. Nordea Investment Management AB owned 0.31% of ResMed worth $103,214,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. True Wealth Design LLC raised its holdings in ResMed by 2,200.0% in the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 110 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of ResMed in the third quarter valued at approximately $34,000. Capital Performance Advisors LLP purchased a new position in ResMed during the third quarter worth approximately $60,000. Quest Partners LLC grew its holdings in ResMed by 44.1% in the 2nd quarter. Quest Partners LLC now owns 327 shares of the medical equipment provider’s stock valued at $63,000 after buying an additional 100 shares in the last quarter. Finally, Quarry LP increased its stake in shares of ResMed by 271.9% in the 2nd quarter. Quarry LP now owns 331 shares of the medical equipment provider’s stock worth $63,000 after acquiring an additional 242 shares during the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Bank of America boosted their price target on shares of ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Wolfe Research reissued an “underperform” rating and issued a $180.00 price target on shares of ResMed in a research note on Wednesday, September 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research report on Friday, October 25th. Robert W. Baird increased their price objective on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, Stifel Nicolaus initiated coverage on ResMed in a research report on Friday, December 13th. They issued a “hold” rating and a $250.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, ResMed presently has an average rating of “Moderate Buy” and an average target price of $227.91.

Insider Transactions at ResMed

In related news, insider Justin Leong sold 6,160 shares of the stock in a transaction 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 transaction, the insider now owns 21,718 shares of the company’s stock, valued at $5,279,428.62. This represents a 22.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $248.74, for a total value of $497,480.00. Following the sale, the director now directly owns 83,204 shares of the company’s stock, valued at $20,696,162.96. This trade represents a 2.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,359 shares of company stock valued at $3,735,309. 0.71% of the stock is currently owned by corporate insiders.

ResMed Trading Up 1.5 %

NYSE RMD opened at $235.08 on Tuesday. The firm has a 50 day simple moving average of $240.72 and a 200-day simple moving average of $230.07. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92. ResMed Inc. has a one year low of $166.90 and a one year high of $260.49. The firm has a market cap of $34.51 billion, a price-to-earnings ratio of 31.14, a PEG ratio of 1.73 and a beta of 0.70.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, topping the consensus estimate of $2.03 by $0.17. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.64 earnings per share. Equities research analysts anticipate that ResMed Inc. will post 9.34 EPS for the current fiscal year.

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.90%. The ex-dividend date was Thursday, November 7th. ResMed’s payout ratio is presently 28.08%.

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.