Nykredit A S Acquires New Position in ResMed Inc. $RMD

Key Points

• Nykredit A S acquired 338,702 ResMed shares worth approximately $66 million during the second quarter, giving it a 0.23% stake. Institutional investors collectively own 54.98% of the company.
• Analyst sentiment remains mixed, with six Buy ratings and ten Hold ratings; the consensus rating is Hold with an average price target of $240.31.
• ResMed exceeded quarterly earnings expectations, reporting $2.95 in EPS and $1.46 billion in revenue, while revenue rose 8.6% year over year. The company also increased its quarterly dividend to $0.66 per share.

Nykredit A S acquired a new position in ResMed Inc. (NYSE:RMD - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 338,702 shares of the medical equipment provider's stock, valued at approximately $66,006,000. Nykredit A S owned 0.23% of ResMed at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC bought a new stake in shares of ResMed during the fourth quarter valued at about $25,000. Bell Investment Advisors Inc purchased a new stake in ResMed during the second quarter valued at about $26,000. Imprint Wealth LLC purchased a new position in shares of ResMed during the 3rd quarter valued at about $26,000. WFA of San Diego LLC bought a new stake in shares of ResMed in the 2nd quarter worth approximately $26,000. Finally, Sunbelt Securities Inc. bought a new position in shares of ResMed during the third quarter valued at about $31,000. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on RMD shares. Rothschild & Co Redburn began coverage on shares of ResMed in a report on Wednesday, August 19th. They issued a "neutral" rating and a $230.00 price target on the stock. Piper Sandler dropped their price objective on shares of ResMed from $233.00 to $225.00 and set a "neutral" rating on the stock in a research note on Friday, August 7th. KeyCorp raised their price objective on ResMed from $255.00 to $267.00 and gave the company an "overweight" rating in a research report on Monday. Wells Fargo & Company dropped their target price on ResMed from $225.00 to $215.00 and set an "equal weight" rating on the stock in a report on Friday, August 7th. Finally, Weiss Ratings upgraded ResMed from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. Six equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, ResMed has a consensus rating of "Hold" and an average price target of $240.31.

Insider Buying and Selling at ResMed

In related news, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $205.69, for a total value of $1,026,598.79. Following the sale, the chief executive officer directly owned 466,256 shares of the company's stock, valued at $95,904,196.64. This represents a 1.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 8,000 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $225.00, for a total value of $1,800,000.00. Following the completion of the sale, the director owned 52,773 shares in the company, valued at approximately $11,873,925. The trade was a 13.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 22,973 shares of company stock worth $4,885,436. Insiders own 0.65% of the company's stock.

ResMed Price Performance

NYSE RMD opened at $231.03 on Thursday. The company has a current ratio of 3.10, a quick ratio of 2.42 and a debt-to-equity ratio of 0.06. ResMed Inc. has a 12 month low of $180.26 and a 12 month high of $284.87. The stock has a market cap of $33.33 billion, a price-to-earnings ratio of 22.15, a PEG ratio of 1.45 and a beta of 0.77. The company's 50 day moving average is $214.34 and its two-hundred day moving average is $218.32.

ResMed (NYSE:RMD - Get Free Report) last released its earnings results on Thursday, August 6th. The medical equipment provider reported $2.95 EPS for the quarter, topping the consensus estimate of $2.89 by $0.06. ResMed had a net margin of 26.94% and a return on equity of 25.58%. The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the firm earned $2.55 earnings per share. The company's quarterly revenue was up 8.6% compared to the same quarter last year. As a group, research analysts anticipate that ResMed Inc. will post 12.03 earnings per share for the current year.

ResMed Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, August 20th will be given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 1.1%. This is a positive change from ResMed's previous quarterly dividend of $0.60. The ex-dividend date is Thursday, August 20th. ResMed's dividend payout ratio (DPR) is presently 25.31%.

ResMed Profile

ResMed NYSE: RMD is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed's product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.

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