Andra AP fonden Acquires 24,500 Shares of ResMed Inc. (RMD)

Andra AP fonden grew its holdings in ResMed Inc. (NYSE:RMD) by 54.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 69,500 shares of the medical equipment provider’s stock after acquiring an additional 24,500 shares during the period. Andra AP fonden’s holdings in ResMed were worth $8,016,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Meeder Asset Management Inc. bought a new stake in ResMed in the second quarter worth approximately $131,000. Qube Research & Technologies Ltd bought a new stake in ResMed in the second quarter worth approximately $148,000. Cerebellum GP LLC bought a new stake in ResMed in the third quarter worth approximately $186,000. Piedmont Investment Advisors LLC bought a new stake in ResMed in the second quarter worth approximately $167,000. Finally, First Hawaiian Bank bought a new stake in shares of ResMed during the 3rd quarter worth $201,000. 63.81% of the stock is owned by institutional investors.

NYSE RMD opened at $105.03 on Friday. The company has a quick ratio of 1.56, a current ratio of 2.08 and a debt-to-equity ratio of 0.13. The firm has a market cap of $16.46 billion, a P/E ratio of 29.75, a PEG ratio of 2.94 and a beta of 0.87. ResMed Inc. has a 1 year low of $77.71 and a 1 year high of $116.64.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, August 2nd. The medical equipment provider reported $0.95 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.95. The business had revenue of $623.63 million during the quarter, compared to the consensus estimate of $622.78 million. ResMed had a net margin of 13.49% and a return on equity of 24.74%. ResMed’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.77 EPS. On average, equities research analysts expect that ResMed Inc. will post 3.71 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 20th. Investors of record on Thursday, August 16th were issued a dividend of $0.37 per share. This is an increase from ResMed’s previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a dividend yield of 1.41%. The ex-dividend date was Wednesday, August 15th. ResMed’s dividend payout ratio is currently 41.93%.

In other ResMed news, insider David Pendarvis sold 2,810 shares of the stock in a transaction on Friday, August 3rd. The shares were sold at an average price of $106.20, for a total value of $298,422.00. Following the completion of the sale, the insider now directly owns 101,893 shares of the company’s stock, valued at approximately $10,821,036.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Brett Sandercock sold 2,000 shares of the stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $107.45, for a total transaction of $214,900.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,420 shares of company stock valued at $1,468,482. 1.77% of the stock is owned by insiders.

RMD has been the subject of several recent analyst reports. Zacks Investment Research raised shares of ResMed from a “hold” rating to a “buy” rating and set a $120.00 price objective for the company in a report on Tuesday, July 10th. Goldman Sachs Group initiated coverage on shares of ResMed in a report on Sunday, July 1st. They set a “buy” rating for the company. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $81.60.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. 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, portable oxygen concentrators, 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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