ResMed Inc. $RMD Shares Purchased by Fjarde AP Fonden Fourth Swedish National Pension Fund

Key Points

• Fjarde AP Fonden significantly increased its stake in ResMed, boosting holdings by 75.7% in the first quarter to 58,848 shares valued at about $13.2 million.
• ResMed’s latest quarterly results beat expectations, with EPS of $2.86 versus $2.79 expected and revenue of $1.43 billion, up 10.8% year over year.
• Analysts remain mostly positive on the stock despite some target cuts, with a consensus “Moderate Buy” rating and an average price target of $270.82.

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in ResMed Inc. (NYSE:RMD - Free Report) by 75.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 58,848 shares of the medical equipment provider's stock after purchasing an additional 25,360 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in ResMed were worth $13,210,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC bought a new stake in shares of ResMed during the fourth quarter valued at approximately $25,000. ORG Partners LLC grew its holdings in ResMed by 181.6% in the 4th quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider's stock worth $26,000 after buying an additional 69 shares in the last quarter. Imprint Wealth LLC bought a new position in ResMed in the 3rd quarter worth approximately $26,000. WFA of San Diego LLC acquired a new stake in ResMed in the 2nd quarter valued at approximately $26,000. Finally, Sunbelt Securities Inc. acquired a new stake in ResMed in the 3rd quarter valued at approximately $31,000. Institutional investors own 54.98% of the company's stock.

Insider Transactions at ResMed

In related news, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $193.96, for a total transaction of $968,054.36. Following the transaction, the chief executive officer directly owned 466,256 shares of the company's stock, valued at $90,435,013.76. The trade was a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 14,973 shares of company stock worth $3,130,754 over the last quarter. 0.65% of the stock is owned by insiders.

ResMed Price Performance

Shares of NYSE:RMD opened at $209.37 on Friday. The stock has a market cap of $30.37 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 1.23 and a beta of 0.78. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.01 and a quick ratio of 2.33. ResMed Inc. has a 12 month low of $180.26 and a 12 month high of $293.81. The stock's 50 day moving average price is $201.15 and its 200 day moving average price is $229.51.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.79 by $0.07. ResMed had a return on equity of 25.35% and a net margin of 27.44%.The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period last year, the company posted $2.37 EPS. The firm's quarterly revenue was up 10.8% on a year-over-year basis. Equities research analysts anticipate that ResMed Inc. will post 11.13 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, May 14th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $2.40 annualized dividend and a yield of 1.1%. ResMed's dividend payout ratio (DPR) is currently 23.14%.

Analysts Set New Price Targets

RMD has been the subject of a number of analyst reports. Citigroup reduced their price target on ResMed from $340.00 to $270.00 and set a "buy" rating for the company in a research report on Monday, June 15th. Evercore set a $255.00 price target on ResMed and gave the company an "outperform" rating in a report on Monday, April 13th. The Goldman Sachs Group restated a "buy" rating on shares of ResMed in a research note on Wednesday. JPMorgan Chase & Co. began coverage on shares of ResMed in a report on Wednesday, April 15th. They issued an "overweight" rating for the company. Finally, Wells Fargo & Company decreased their target price on shares of ResMed from $270.00 to $227.00 and set an "equal weight" rating for the company in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, ResMed presently has a consensus rating of "Moderate Buy" and a consensus price target of $270.82.

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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