ResMed Inc. (NYSE:RMD) Shares Bought by Handelsbanken Fonder AB

Handelsbanken Fonder AB boosted its position in shares of ResMed Inc. (NYSE:RMD) by 5.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 86,029 shares of the medical equipment provider’s stock after buying an additional 4,475 shares during the quarter. Handelsbanken Fonder AB’s holdings in ResMed were worth $19,674,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. True Wealth Design LLC grew its position in ResMed by 2,200.0% during the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 110 shares during the period. Ashton Thomas Securities LLC acquired a new stake in ResMed during the third quarter valued at $34,000. Rosenberg Matthew Hamilton acquired a new stake in ResMed during the fourth quarter valued at $54,000. Capital Performance Advisors LLP acquired a new stake in ResMed during the third quarter valued at $60,000. Finally, Venturi Wealth Management LLC grew its position in ResMed by 55.7% during the third quarter. Venturi Wealth Management LLC now owns 341 shares of the medical equipment provider’s stock valued at $83,000 after buying an additional 122 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Buying and Selling

In related news, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the completion of the sale, the chief executive officer now directly owns 455,472 shares in the company, valued at approximately $107,842,105.44. This trade represents a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $245.65, for a total transaction of $491,300.00. Following the sale, the director now owns 81,218 shares of the company’s stock, valued at approximately $19,951,201.70. The trade was a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,147 shares of company stock worth $2,905,745. Insiders own 0.71% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of ResMed in a report on Thursday, January 16th. They set a “buy” rating on the stock. Robert W. Baird increased their price objective on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Stifel Nicolaus assumed coverage on shares of ResMed in a report on Friday, December 13th. They set a “hold” rating and a $250.00 price objective on the stock. Piper Sandler increased their price objective 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, KeyCorp increased their price objective on shares of ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, January 31st. One research 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $244.73.

ResMed Stock Performance

NYSE:RMD opened at $231.61 on Friday. The company’s 50-day moving average price is $237.57 and its 200-day moving average price is $238.96. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The company has a market cap of $34.02 billion, a P/E ratio of 27.34, a P/E/G ratio of 1.55 and a beta of 0.70. ResMed Inc. has a twelve month low of $170.56 and a twelve month high of $263.05.

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, topping the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. On average, sell-side analysts forecast that ResMed Inc. will post 9.44 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors 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 0.92%. The ex-dividend date is Thursday, February 13th. ResMed’s payout ratio is currently 25.03%.

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.