Swedbank AB Has $265.55 Million Holdings in ResMed Inc. $RMD

Key Points

• Swedbank AB more than doubled its stake in ResMed in the fourth quarter, raising holdings by 103.1% to 1,102,476 shares worth about $265.55 million (≈0.76% of the company).
• ResMed beat Q1 expectations with EPS of $2.86 versus $2.79 and revenue of $1.43 billion (up 10.8% year-over-year), while analysts maintain a consensus "Moderate Buy" and a $286.18 average target price.
• The company announced a quarterly dividend of $0.60 per share (annualized $2.40, ~1.2% yield), even as insiders sold shares recently (CEO sold 4,991 shares; insiders sold 18,973 shares worth ~$4.7M over three months).

Swedbank AB increased its holdings in ResMed Inc. (NYSE:RMD - Free Report) by 103.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,102,476 shares of the medical equipment provider's stock after purchasing an additional 559,765 shares during the period. Swedbank AB owned approximately 0.76% of ResMed worth $265,553,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of RMD. Imprint Wealth LLC bought a new position in shares of ResMed in the 3rd quarter valued at approximately $26,000. WFA of San Diego LLC acquired a new position in ResMed during the second quarter valued at approximately $26,000. ORG Partners LLC grew its holdings in ResMed by 181.6% during the fourth quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider's stock valued at $26,000 after purchasing an additional 69 shares during the last quarter. Sunbelt Securities Inc. bought a new position in shares of ResMed in the third quarter valued at approximately $31,000. Finally, Westside Investment Management Inc. lifted its stake in shares of ResMed by 100.0% in the third quarter. Westside Investment Management Inc. now owns 132 shares of the medical equipment provider's stock worth $36,000 after buying an additional 66 shares during the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RMD. Piper Sandler upped their price objective on shares of ResMed from $270.00 to $275.00 and gave the stock a "neutral" rating in a report on Friday, January 30th. Wall Street Zen lowered shares of ResMed from a "buy" rating to a "hold" rating in a research report on Saturday, March 14th. JPMorgan Chase & Co. initiated coverage on shares of ResMed in a report on Wednesday, April 15th. They set an "overweight" rating for the company. Weiss Ratings downgraded ResMed from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, March 19th. Finally, Stifel Nicolaus lifted their price objective on ResMed from $260.00 to $265.00 and gave the stock a "hold" rating in a research note on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $286.18.

ResMed Trading Down 0.7%

Shares of RMD stock opened at $207.92 on Wednesday. The firm has a market capitalization of $30.29 billion, a P/E ratio of 20.05, a price-to-earnings-growth ratio of 1.33 and a beta of 0.84. ResMed Inc. has a 1 year low of $198.64 and a 1 year high of $293.81. The firm's fifty day simple moving average is $232.33 and its 200 day simple moving average is $245.90. The company has a current ratio of 3.01, a quick ratio of 2.33 and a debt-to-equity ratio of 0.06.

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 for the quarter, beating analysts' consensus estimates of $2.79 by $0.07. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the firm earned $2.37 EPS. The business's revenue was up 10.8% on a year-over-year basis. As a group, sell-side analysts predict that ResMed Inc. will post 11.13 EPS for the current year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, May 14th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $2.40 dividend on an annualized basis and a yield of 1.2%. ResMed's dividend payout ratio (DPR) is 23.14%.

Insider Transactions at ResMed

In related news, CEO Michael J. Farrell sold 4,991 shares of the business's stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $225.50, for a total transaction of $1,125,470.50. Following the transaction, the chief executive officer directly owned 466,223 shares in the company, valued at $105,133,286.50. The trade was a 1.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 2,000 shares of the company's stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total value of $450,000.00. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 18,973 shares of company stock worth $4,715,237. 0.65% of the stock is owned by company insiders.

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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