Lansforsakringar Fondforvaltning AB publ Buys 2,031 Shares of ResMed Inc. $RMD

Key Points

• Lansforsakringar Fondforvaltning AB publ increased its stake in ResMed Inc. by 119.3%, owning 3,733 shares valued at approximately $836,000 after acquiring an additional 2,031 shares during the 1st quarter.
• ResMed has announced a quarterly dividend increase from $0.53 to $0.60 per share, with a payment date set for September 18th.
• Following earnings results that surpassed expectations, analysts have raised their price targets on ResMed stock, with UBS Group setting a target of $325.00 and maintaining a "buy" rating.

Lansforsakringar Fondforvaltning AB publ increased its position in shares of ResMed Inc. (NYSE:RMD - Free Report) by 119.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,733 shares of the medical equipment provider's stock after buying an additional 2,031 shares during the quarter. Lansforsakringar Fondforvaltning AB publ's holdings in ResMed were worth $836,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in RMD. Lido Advisors LLC grew its position in ResMed by 14.6% during the fourth quarter. Lido Advisors LLC now owns 3,951 shares of the medical equipment provider's stock worth $904,000 after buying an additional 503 shares in the last quarter. Comerica Bank boosted its holdings in ResMed by 0.9% during the fourth quarter. Comerica Bank now owns 28,430 shares of the medical equipment provider's stock valued at $6,502,000 after purchasing an additional 253 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in ResMed by 6.6% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 20,099 shares of the medical equipment provider's stock valued at $4,596,000 after purchasing an additional 1,249 shares in the last quarter. AXA S.A. boosted its holdings in ResMed by 8.6% during the fourth quarter. AXA S.A. now owns 56,640 shares of the medical equipment provider's stock valued at $12,953,000 after purchasing an additional 4,487 shares in the last quarter. Finally, Aptus Capital Advisors LLC acquired a new stake in ResMed during the fourth quarter valued at approximately $344,000. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Price Performance

Shares of RMD traded down $2.18 on Wednesday, hitting $268.81. The company's stock had a trading volume of 1,804,367 shares, compared to its average volume of 936,194. The company has a market capitalization of $39.36 billion, a PE ratio of 28.27, a PEG ratio of 1.83 and a beta of 0.85. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.44 and a quick ratio of 2.53. ResMed Inc. has a fifty-two week low of $199.92 and a fifty-two week high of $293.81. The company has a 50 day moving average price of $271.75 and a 200 day moving average price of $246.71.

ResMed (NYSE:RMD - Get Free Report) last announced its earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 EPS for the quarter, topping the consensus estimate of $2.47 by $0.08. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.33 billion. ResMed had a return on equity of 25.62% and a net margin of 27.22%.ResMed's revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.08 EPS. On average, research analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, August 14th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, August 14th. This is an increase from ResMed's previous quarterly dividend of $0.53. ResMed's dividend payout ratio (DPR) is presently 25.24%.

Insider Transactions at ResMed

In related news, Director John Hernandez sold 2,575 shares of the business's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $287.10, for a total value of $739,282.50. Following the completion of the transaction, the director owned 4,045 shares in the company, valued at $1,161,319.50. The trade was a 38.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $279.48, for a total transaction of $2,238,355.32. Following the completion of the transaction, the chief executive officer owned 455,503 shares of the company's stock, valued at $127,303,978.44. This trade represents a 1.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,597 shares of company stock valued at $7,301,182 in the last three months. 0.71% of the stock is owned by corporate insiders.

Analyst Ratings Changes

RMD has been the topic of a number of recent research reports. Mizuho lifted their price objective on ResMed from $270.00 to $290.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Stifel Nicolaus lifted their price objective on ResMed from $240.00 to $270.00 and gave the company a "hold" rating in a report on Friday, August 1st. William Blair raised ResMed to a "strong-buy" rating in a report on Friday, August 1st. Wall Street Zen downgraded ResMed from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. Finally, Royal Bank Of Canada lifted their price objective on ResMed from $294.00 to $300.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $274.83.

About ResMed

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.