BI Asset Management Fondsmaeglerselskab A S Grows Stock Position in ResMed Inc. (NYSE:RMD)

BI Asset Management Fondsmaeglerselskab A S grew its holdings in ResMed Inc. (NYSE:RMDFree Report) by 146.0% in the 1st quarter, Holdings Channel.com reports. The fund owned 4,942 shares of the medical equipment provider’s stock after buying an additional 2,933 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in ResMed were worth $979,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of RMD. Central Pacific Bank Trust Division purchased a new stake in ResMed during the 1st quarter worth approximately $404,000. Nicollet Investment Management Inc. purchased a new stake in shares of ResMed during the first quarter valued at $5,688,000. Daiwa Securities Group Inc. increased its position in shares of ResMed by 28.9% in the 1st quarter. Daiwa Securities Group Inc. now owns 17,344 shares of the medical equipment provider’s stock valued at $3,435,000 after acquiring an additional 3,890 shares during the period. Pittenger & Anderson Inc. raised its stake in ResMed by 39.0% in the 1st quarter. Pittenger & Anderson Inc. now owns 50,462 shares of the medical equipment provider’s stock worth $9,993,000 after acquiring an additional 14,161 shares during the last quarter. Finally, Nordea Investment Management AB lifted its position in ResMed by 1,844.6% during the 1st quarter. Nordea Investment Management AB now owns 189,652 shares of the medical equipment provider’s stock worth $37,506,000 after acquiring an additional 179,899 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Stock Performance

RMD traded up $0.27 on Wednesday, reaching $190.60. The stock had a trading volume of 97,215 shares, compared to its average volume of 1,059,986. The business’s 50-day moving average price is $207.52 and its two-hundred day moving average price is $192.30. The company has a market cap of $28.00 billion, a P/E ratio of 29.24, a price-to-earnings-growth ratio of 1.68 and a beta of 0.66. ResMed Inc. has a 12-month low of $132.24 and a 12-month high of $229.97. The company has a current ratio of 3.04, a quick ratio of 1.97 and a debt-to-equity ratio of 0.22.

ResMed (NYSE:RMDGet Free Report) last announced its quarterly earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.22. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. ResMed had a return on equity of 24.43% and a net margin of 20.91%. ResMed’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.68 EPS. Sell-side analysts forecast that ResMed Inc. will post 7.7 earnings per share for the current year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 9th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.01%. ResMed’s dividend payout ratio (DPR) is 29.49%.

Insider Activity

In other ResMed news, CFO Brett Sandercock sold 1,000 shares of the stock in a transaction on Monday, July 8th. The shares were sold at an average price of $194.35, for a total transaction of $194,350.00. Following the transaction, the chief financial officer now directly owns 90,056 shares of the company’s stock, valued at $17,502,383.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Witte Jan De sold 360 shares of ResMed stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $218.29, for a total value of $78,584.40. Following the sale, the director now directly owns 7,519 shares in the company, valued at approximately $1,641,322.51. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Brett Sandercock sold 1,000 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $194.35, for a total value of $194,350.00. Following the transaction, the chief financial officer now directly owns 90,056 shares of the company’s stock, valued at approximately $17,502,383.60. The disclosure for this sale can be found here. Insiders have sold 32,151 shares of company stock worth $6,860,759 in the last quarter. Corporate insiders own 1.21% of the company’s stock.

Wall Street Analysts Forecast Growth

RMD has been the topic of a number of research reports. Royal Bank of Canada increased their price objective on ResMed from $187.00 to $200.00 and gave the company a “sector perform” rating in a report on Friday, April 26th. Oppenheimer downgraded shares of ResMed from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. Mizuho restated a “buy” rating and set a $215.00 price objective on shares of ResMed in a research note on Wednesday, March 27th. Citigroup downgraded shares of ResMed from a “buy” rating to a “neutral” rating in a report on Monday, June 24th. Finally, KeyCorp raised their target price on shares of ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, ResMed has an average rating of “Moderate Buy” and a consensus price target of $202.80.

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ResMed Profile

(Free Report)

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.

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Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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