Nordea Investment Management AB Acquires 215,561 Shares of ResMed Inc. (NYSE:RMD)

Nordea Investment Management AB lifted its stake in shares of ResMed Inc. (NYSE:RMD - Free Report) by 92.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 448,151 shares of the medical equipment provider's stock after acquiring an additional 215,561 shares during the period. Nordea Investment Management AB owned approximately 0.31% of ResMed worth $103,214,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. TD Asset Management Inc raised its position in shares of ResMed by 14.7% in the 2nd quarter. TD Asset Management Inc now owns 77,474 shares of the medical equipment provider's stock worth $14,830,000 after acquiring an additional 9,930 shares in the last quarter. National Bank of Canada FI grew its position in ResMed by 14.5% during the second quarter. National Bank of Canada FI now owns 47,531 shares of the medical equipment provider's stock valued at $8,885,000 after buying an additional 6,014 shares during the period. Private Advisor Group LLC lifted its position in ResMed by 15.1% during the second quarter. Private Advisor Group LLC now owns 3,071 shares of the medical equipment provider's stock valued at $588,000 after purchasing an additional 402 shares in the last quarter. Candriam S.C.A. lifted its holdings in ResMed by 10.8% during the second quarter. Candriam S.C.A. now owns 9,371 shares of the medical equipment provider's stock valued at $1,794,000 after purchasing an additional 912 shares in the last quarter. Finally, Acadian Asset Management LLC grew its position in shares of ResMed by 471.6% during the second quarter. Acadian Asset Management LLC now owns 3,681 shares of the medical equipment provider's stock worth $704,000 after purchasing an additional 3,037 shares in the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RMD has been the subject of a number of analyst reports. Bank of America raised their price target on ResMed from $240.00 to $270.00 and gave the stock a "buy" rating in a research report on Thursday, September 26th. Needham & Company LLC restated a "hold" rating on shares of ResMed in a report on Friday, October 25th. Wolfe Research restated an "underperform" rating and set a $180.00 target price on shares of ResMed in a report on Wednesday, September 18th. Baird R W raised ResMed to a "strong-buy" rating in a research report on Tuesday, September 24th. Finally, Stifel Nicolaus assumed coverage on shares of ResMed in a research note on Friday, December 13th. They set a "hold" rating and a $250.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $227.91.

ResMed Stock Up 0.5 %

NYSE RMD traded up $1.22 during mid-day trading on Tuesday, reaching $236.31. 674,633 shares of the company's stock traded hands, compared to its average volume of 666,508. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. The company has a fifty day simple moving average of $240.48 and a 200-day simple moving average of $230.23. ResMed Inc. has a 1-year low of $166.90 and a 1-year high of $260.49. The company has a market cap of $34.69 billion, a price-to-earnings ratio of 31.30, a P/E/G ratio of 1.73 and a beta of 0.70.

ResMed (NYSE:RMD - Get Free Report) last announced its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the business earned $1.64 EPS. The company's revenue was up 11.1% on a year-over-year basis. As a group, equities research analysts expect that ResMed Inc. will post 9.34 EPS for the current year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend was Thursday, November 7th. ResMed's dividend payout ratio (DPR) is presently 28.08%.

Insider Activity

In other news, insider Kaushik Ghoshal sold 4,260 shares of the firm's stock in a transaction on Friday, October 11th. The stock was sold at an average price of $238.48, for a total value of $1,015,924.80. Following the transaction, the insider now directly owns 21,788 shares in the company, valued at $5,196,002.24. This trade represents a 16.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Witte Jan De sold 796 shares of the firm's stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total transaction of $198,052.76. Following the sale, the director now owns 6,723 shares in the company, valued at $1,672,749.63. This trade represents a 10.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,359 shares of company stock worth $3,735,309. Corporate insiders own 0.71% of the company's stock.

ResMed 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.