Handelsbanken Fonder AB Increases Stock Holdings in ResMed Inc. (NYSE:RMD)

Handelsbanken Fonder AB boosted its position in shares of ResMed Inc. (NYSE:RMD - Free Report) by 4.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 81,554 shares of the medical equipment provider's stock after purchasing an additional 3,171 shares during the period. Handelsbanken Fonder AB owned about 0.06% of ResMed worth $19,909,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RMD. Dorsey & Whitney Trust CO LLC increased its stake in ResMed by 3.7% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 1,473 shares of the medical equipment provider's stock worth $292,000 after buying an additional 52 shares during the period. QRG Capital Management Inc. increased its position in shares of ResMed by 4.5% during the second quarter. QRG Capital Management Inc. now owns 1,291 shares of the medical equipment provider's stock worth $247,000 after acquiring an additional 56 shares during the period. Inspire Advisors LLC raised its stake in shares of ResMed by 1.9% during the second quarter. Inspire Advisors LLC now owns 3,060 shares of the medical equipment provider's stock valued at $586,000 after acquiring an additional 56 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of ResMed by 1.9% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 3,188 shares of the medical equipment provider's stock valued at $631,000 after purchasing an additional 60 shares during the period. Finally, Gulf International Bank UK Ltd grew its stake in ResMed by 0.5% in the first quarter. Gulf International Bank UK Ltd now owns 12,614 shares of the medical equipment provider's stock worth $2,497,000 after purchasing an additional 66 shares in the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

ResMed Stock Performance

RMD stock traded down $1.69 during trading on Monday, reaching $232.29. The company had a trading volume of 649,544 shares, compared to its average volume of 1,045,381. The company has a market cap of $34.13 billion, a price-to-earnings ratio of 35.68, a price-to-earnings-growth ratio of 2.16 and a beta of 0.69. ResMed Inc. has a twelve month low of $132.24 and a twelve month high of $255.18. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.69 and a current ratio of 2.59. The firm has a 50-day simple moving average of $234.03 and a 200-day simple moving average of $213.10.

ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $2.08 EPS for the quarter, topping the consensus estimate of $2.03 by $0.05. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the previous year, the firm posted $1.60 earnings per share. The business's revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, sell-side analysts expect that ResMed Inc. will post 9.02 earnings per share for the current year.

ResMed Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, August 15th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.91%. This is a boost from ResMed's previous quarterly dividend of $0.48. The ex-dividend date was Thursday, August 15th. ResMed's dividend payout ratio (DPR) is presently 32.57%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on RMD shares. Baird R W raised ResMed to a "strong-buy" rating in a research report on Tuesday, September 24th. Bank of America upped their target price on ResMed from $240.00 to $270.00 and gave the stock a "buy" rating in a report on Thursday, September 26th. Robert W. Baird assumed coverage on ResMed in a report on Tuesday, September 24th. They issued an "outperform" rating and a $280.00 price target on the stock. Citigroup lowered ResMed from a "buy" rating to a "neutral" rating in a research report on Monday, June 24th. Finally, Royal Bank of Canada lifted their target price on ResMed from $206.00 to $224.00 and gave the company a "sector perform" rating in a research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $218.18.

Insider Buying and Selling

In related news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $237.20, for a total value of $474,400.00. Following the transaction, the director now owns 85,204 shares in the company, valued at approximately $20,210,388.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other ResMed news, insider Kaushik Ghoshal sold 5,000 shares of the company's stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $252.56, for a total value of $1,262,800.00. Following the sale, the insider now directly owns 21,788 shares of the company's stock, valued at approximately $5,502,777.28. This represents a 0.00 % 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 ResMed stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $237.20, for a total value of $474,400.00. Following the transaction, the director now owns 85,204 shares of the company's stock, valued at $20,210,388.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 89,248 shares of company stock valued at $20,091,478 over the last quarter. 1.21% of the stock is currently owned by company insiders.

ResMed Company Profile

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.