38,700 Shares in ResMed Inc. (NYSE:RMD) Bought by Andra AP fonden

Andra AP fonden purchased a new stake in ResMed Inc. (NYSE:RMD) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 38,700 shares of the medical equipment provider’s stock, valued at approximately $8,850,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Howard Capital Management Inc. lifted its stake in ResMed by 5.3% in the 4th quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider’s stock valued at $206,000 after purchasing an additional 45 shares during the last quarter. Ascent Group LLC raised its stake in ResMed by 1.7% in the third 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 lifted its position in shares of ResMed by 2.0% in the third 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 during the last quarter. Wedmont Private Capital boosted its stake in shares of 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 acquiring an additional 52 shares during the period. Finally, Concurrent Investment Advisors LLC increased its holdings in shares of ResMed by 3.1% during the 3rd 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 during the last quarter. Institutional investors own 54.98% of the company’s stock.

Insider Activity at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $227.71, for a total transaction of $455,420.00. Following the completion of the sale, the director now directly owns 75,218 shares in the company, valued at $17,127,890.78. This represents a 2.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $236.77, for a total value of $1,896,290.93. Following the completion of the transaction, the chief executive officer now owns 455,472 shares in the company, valued at approximately $107,842,105.44. This represents a 1.73 % decrease in their position. 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 three months. 0.71% of the stock is owned by insiders.

ResMed Price Performance

ResMed stock opened at $232.40 on Friday. The firm has a market cap of $34.13 billion, a PE ratio of 27.44, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. 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 stock’s fifty day moving average price is $236.70 and its two-hundred day moving average price is $239.93. ResMed Inc. has a one year low of $172.19 and a one year high of $263.05.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, topping 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, research analysts expect that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently declared 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. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date is Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is presently 25.03%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a report on Friday, January 31st. Stifel Nicolaus cut their target price on shares of ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a research note on Wednesday. Citigroup raised shares of ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday. Piper Sandler increased their price target on shares of ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Finally, StockNews.com cut ResMed from a “buy” rating to a “hold” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, ResMed currently has a consensus rating of “Moderate Buy” and a consensus target price of $243.82.

ResMed 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.