Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in ResMed Inc. (NYSE:RMD – Free Report) by 75.7% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 58,848 shares of the medical equipment provider’s stock after buying an additional 25,360 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in ResMed were worth $13,210,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the business. Landscape Capital Management L.L.C. raised its position in shares of ResMed by 123.2% during the third quarter. Landscape Capital Management L.L.C. now owns 49,017 shares of the medical equipment provider’s stock worth $13,417,000 after purchasing an additional 27,060 shares during the period. Nordea Investment Management AB boosted its position in shares of ResMed by 37.2% in the 4th quarter. Nordea Investment Management AB now owns 1,084,996 shares of the medical equipment provider’s stock valued at $262,027,000 after purchasing an additional 294,124 shares during the period. Russell Investments Group Ltd. boosted its position in shares of ResMed by 20.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 112,755 shares of the medical equipment provider’s stock valued at $30,847,000 after purchasing an additional 18,966 shares during the period. Goldman Sachs Group Inc. increased its stake in ResMed by 13.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 979,087 shares of the medical equipment provider’s stock worth $235,833,000 after purchasing an additional 118,296 shares in the last quarter. Finally, Dundas Partners LLP increased its stake in ResMed by 15.1% in the 3rd quarter. Dundas Partners LLP now owns 175,117 shares of the medical equipment provider’s stock worth $47,935,000 after purchasing an additional 22,933 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.
ResMed Trading Down 0.1%
NYSE RMD opened at $209.37 on Friday. The company has a current ratio of 3.01, a quick ratio of 2.33 and a debt-to-equity ratio of 0.06. ResMed Inc. has a 1-year low of $180.26 and a 1-year high of $293.81. The firm’s fifty day simple moving average is $201.15 and its 200-day simple moving average is $229.51. The company has a market capitalization of $30.37 billion, a PE ratio of 20.19, a price-to-earnings-growth ratio of 1.23 and a beta of 0.78.
ResMed Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Thursday, May 14th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.1%. The ex-dividend date was Thursday, May 14th. ResMed’s dividend payout ratio (DPR) is 23.14%.
Analyst Ratings Changes
Several analysts have issued reports on RMD shares. Royal Bank Of Canada boosted their price objective on ResMed from $314.00 to $321.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. KeyCorp dropped their target price on shares of ResMed from $290.00 to $266.00 and set an “overweight” rating on the stock in a research report on Monday, June 22nd. Wells Fargo & Company dropped their target price on shares of ResMed from $270.00 to $227.00 and set an “equal weight” rating on the stock in a research report on Friday, May 1st. Citigroup cut their price target on shares of ResMed from $340.00 to $270.00 and set a “buy” rating on the stock in a report on Monday, June 15th. Finally, Wall Street Zen downgraded shares of ResMed from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, ResMed currently has an average rating of “Moderate Buy” and a consensus price target of $270.82.
Check Out Our Latest Stock Analysis on RMD
Insider Buying and Selling at ResMed
In related news, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $193.96, for a total value of $968,054.36. Following the transaction, the chief executive officer directly owned 466,256 shares of the company’s stock, valued at approximately $90,435,013.76. This trade represents a 1.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 14,973 shares of company stock valued at $3,130,754. 0.65% of the stock is currently owned by company insiders.
About ResMed
ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.
ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.
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