Skandinaviska Enskilda Banken AB publ Buys 69,782 Shares of ResMed Inc. (NYSE:RMD)

Skandinaviska Enskilda Banken AB publ lifted its position in ResMed Inc. (NYSE:RMD) by 45.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 224,403 shares of the medical equipment provider’s stock after purchasing an additional 69,782 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in ResMed were worth $51,500,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. First Horizon Advisors Inc. boosted its stake in ResMed by 285.1% during the fourth quarter. First Horizon Advisors Inc. now owns 593 shares of the medical equipment provider’s stock valued at $136,000 after buying an additional 439 shares during the last quarter. Peak Financial Advisors LLC purchased a new position in ResMed in the 4th quarter worth about $2,972,000. Principal Financial Group Inc. raised its stake in shares of ResMed by 2.9% during the third quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider’s stock valued at $45,596,000 after acquiring an additional 5,284 shares in the last quarter. Retireful LLC purchased a new stake in shares of ResMed in the 3rd quarter worth $742,000. Finally, Spire Wealth Management lifted its stake in ResMed by 11.3% in the fourth quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider’s stock worth $2,470,000 after acquiring an additional 1,100 shares during the period. 54.98% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Kaushik Ghoshal sold 9,745 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $239.31, for a total value of $2,332,075.95. Following the completion of the sale, the insider now directly owns 9,725 shares of the company’s stock, valued at $2,327,289.75. This represents a 50.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total value of $484,220.00. Following the completion of the transaction, the director now owns 77,218 shares in the company, valued at $18,695,249.98. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,940 shares of company stock worth $9,164,385. 0.71% of the stock is owned by insiders.

Analyst Ratings Changes

RMD has been the topic of a number of recent analyst reports. Stifel Nicolaus lowered their price target on shares of ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a report on Wednesday, March 5th. UBS Group raised ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. StockNews.com lowered shares of ResMed from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Piper Sandler raised their price objective on shares of ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Finally, The Goldman Sachs Group began coverage on ResMed in a research note on Thursday, January 16th. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $243.82.

ResMed Price Performance

Shares of NYSE RMD opened at $220.09 on Thursday. The firm has a market cap of $32.32 billion, a PE ratio of 25.98, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. ResMed Inc. has a fifty-two week low of $172.19 and a fifty-two week high of $263.05. The business has a 50 day moving average price of $236.63 and a two-hundred day moving average price of $239.99. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS 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%. Sell-side analysts expect that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

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 of this dividend is Thursday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 0.96%. ResMed’s dividend 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.