Handelsbanken Fonder AB Buys 12,899 Shares of ResMed Inc. (NYSE:RMD)

Handelsbanken Fonder AB boosted its holdings in shares of ResMed Inc. (NYSE:RMD - Free Report) by 22.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 70,272 shares of the medical equipment provider's stock after purchasing an additional 12,899 shares during the quarter. Handelsbanken Fonder AB's holdings in ResMed were worth $12,088,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its position in shares of ResMed by 224.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider's stock valued at $27,000 after purchasing an additional 128 shares during the period. Planned Solutions Inc. purchased a new position in ResMed in the 4th quarter valued at approximately $34,000. Riverview Trust Co grew its holdings in ResMed by 255.9% during the 3rd quarter. Riverview Trust Co now owns 210 shares of the medical equipment provider's stock valued at $31,000 after buying an additional 151 shares during the last quarter. MV Capital Management Inc. grew its holdings in ResMed by 39.0% during the 4th quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider's stock valued at $37,000 after buying an additional 60 shares during the last quarter. Finally, Operose Advisors LLC acquired a new stake in ResMed during the 3rd quarter valued at $32,000. Hedge funds and other institutional investors own 54.98% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RMD. JPMorgan Chase & Co. lifted their target price on ResMed from $160.00 to $195.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 9th. Mizuho restated a "buy" rating and set a $215.00 price target on shares of ResMed in a report on Wednesday, March 27th. Royal Bank of Canada increased their price target on shares of ResMed from $181.00 to $182.00 and gave the stock a "sector perform" rating in a research report on Thursday, January 25th. KeyCorp started coverage on shares of ResMed in a research note on Tuesday, February 6th. They set an "overweight" rating and a $227.00 price objective on the stock. Finally, Oppenheimer increased their price target on shares of ResMed from $185.00 to $205.00 and gave the company an "outperform" rating in a research note on Tuesday, January 30th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $199.20.

ResMed Trading Down 0.3 %

Shares of RMD traded down $0.48 during mid-day trading on Wednesday, reaching $183.74. The company's stock had a trading volume of 973,427 shares, compared to its average volume of 1,013,908. The stock has a market cap of $27.03 billion, a PE ratio of 30.37, a P/E/G ratio of 2.21 and a beta of 0.67. The company has a current ratio of 3.11, a quick ratio of 1.89 and a debt-to-equity ratio of 0.27. ResMed Inc. has a 52 week low of $132.24 and a 52 week high of $243.52. The company's fifty day moving average price is $186.30 and its two-hundred day moving average price is $171.39.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings data on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.81 by $0.07. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. ResMed had a net margin of 19.77% and a return on equity of 23.86%. The company's quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.66 EPS. On average, analysts predict that ResMed Inc. will post 7.47 earnings per share for the current fiscal year.

Insider Transactions at ResMed

In related news, Director Peter C. Farrell sold 10,935 shares of the firm's stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value of $1,997,387.10. Following the completion of the transaction, the director now directly owns 157,404 shares of the company's stock, valued at $28,751,414.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, General Counsel Michael J. Rider sold 200 shares of ResMed stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $173.25, for a total transaction of $34,650.00. Following the completion of the sale, the general counsel now owns 6,688 shares of the company's stock, valued at $1,158,696. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter C. Farrell sold 10,935 shares of the business's stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value of $1,997,387.10. Following the completion of the transaction, the director now directly owns 157,404 shares of the company's stock, valued at $28,751,414.64. The disclosure for this sale can be found here. Insiders have sold 11,216 shares of company stock worth $2,046,617 in the last quarter. Company insiders own 1.21% 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. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.