Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 4,500 Shares of ResMed Inc. (NYSE:RMD)

Fjarde AP Fonden Fourth Swedish National Pension Fund trimmed its stake in shares of ResMed Inc. (NYSE:RMD) by 13.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 29,792 shares of the medical equipment provider’s stock after selling 4,500 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in ResMed were worth $6,813,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. International Assets Investment Management LLC lifted its position in shares of ResMed by 24,311.9% during the 3rd quarter. International Assets Investment Management LLC now owns 26,609 shares of the medical equipment provider’s stock worth $6,496,000 after buying an additional 26,500 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of ResMed by 46.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 48,931 shares of the medical equipment provider’s stock worth $11,945,000 after buying an additional 15,424 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of ResMed by 31.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,254 shares of the medical equipment provider’s stock worth $2,212,000 after buying an additional 2,212 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of ResMed by 35.2% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 7,271 shares of the medical equipment provider’s stock worth $1,775,000 after buying an additional 1,893 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its position in shares of ResMed by 16.4% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 31,923 shares of the medical equipment provider’s stock worth $7,590,000 after buying an additional 4,507 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors.

ResMed Trading Down 1.0 %

NYSE RMD opened at $229.47 on Tuesday. The business has a 50 day simple moving average of $237.20 and a 200 day simple moving average of $239.52. ResMed Inc. has a one year low of $170.56 and a one year high of $263.05. The stock has a market capitalization of $33.70 billion, a P/E ratio of 27.09, a P/E/G ratio of 1.53 and a beta of 0.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29.

ResMed (NYSE:RMD) last released its 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 return on equity of 26.17% and a net margin of 25.34%. Research analysts expect that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders 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 yield of 0.92%. ResMed’s dividend payout ratio (DPR) is presently 25.03%.

Insider Buying and Selling at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total value of $484,220.00. Following the completion of the sale, the director now owns 77,218 shares of the company’s stock, valued at approximately $18,695,249.98. This trade represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 455,472 shares of the company’s stock, valued at $107,842,105.44. This trade represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,147 shares of company stock valued at $2,905,745. Company insiders own 0.71% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. UBS Group upgraded ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. The Goldman Sachs Group assumed coverage on ResMed in a research report on Thursday, January 16th. They set a “buy” rating for the company. KeyCorp upped their price objective on ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Piper Sandler increased their target price on ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Finally, Stifel Nicolaus assumed coverage on ResMed in a research report on Friday, December 13th. They issued a “hold” rating and a $250.00 target price 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 assigned a strong buy rating to the stock. According to data from MarketBeat, ResMed presently has a consensus rating of “Moderate Buy” and a consensus target price of $244.73.

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.