Handelsbanken Fonder AB Grows Stock Holdings in ResMed Inc. (NYSE:RMD)

Handelsbanken Fonder AB lifted its holdings in ResMed Inc. (NYSE:RMD) by 5.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 86,029 shares of the medical equipment provider’s stock after purchasing an additional 4,475 shares during the period. Handelsbanken Fonder AB owned about 0.06% of ResMed worth $19,674,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Peak Financial Advisors LLC purchased a new stake in shares of ResMed in the 4th quarter worth approximately $2,972,000. Principal Financial Group Inc. lifted its position in shares of ResMed by 2.9% in the 3rd quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider’s stock worth $45,596,000 after purchasing an additional 5,284 shares during the period. Spire Wealth Management lifted its position in shares of ResMed by 11.3% in the 4th quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider’s stock worth $2,470,000 after purchasing an additional 1,100 shares during the period. Retireful LLC purchased a new stake in shares of ResMed in the 3rd quarter worth approximately $742,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of ResMed by 38.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,830 shares of the medical equipment provider’s stock worth $2,989,000 after purchasing an additional 3,576 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Piper Sandler upped their price target on shares of ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Robert W. Baird increased their target price on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. KeyCorp increased their target price on shares of ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. increased their target price on shares of ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Stifel Nicolaus began coverage on shares of ResMed in a research report on Friday, December 13th. They set a “hold” rating and a $250.00 target price for the company. One analyst has rated the stock with a sell rating, six have issued 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 an average rating of “Moderate Buy” and an average price target of $244.73.

Insider Transactions at ResMed

In other news, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 455,472 shares in the company, valued at $107,842,105.44. This represents a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total transaction of $484,220.00. Following the completion of the sale, the director now owns 77,218 shares in the company, valued at $18,695,249.98. The trade was a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,147 shares of company stock worth $2,905,745 over the last 90 days. 0.71% of the stock is currently owned by company insiders.

ResMed Trading Down 0.5 %

Shares of ResMed stock opened at $231.61 on Friday. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 12-month low of $170.56 and a 12-month high of $263.05. The firm has a market capitalization of $34.02 billion, a price-to-earnings ratio of 27.34, a PEG ratio of 1.55 and a beta of 0.70. The firm’s 50 day simple moving average is $237.57 and its two-hundred day simple moving average is $238.96.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. Analysts predict that ResMed Inc. will post 9.44 EPS for the current year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be paid a $0.53 dividend. The ex-dividend date is Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.92%. ResMed’s payout ratio is currently 25.03%.

About ResMed

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.