Nordea Investment Management AB Has $217.39 Million Stock Position in ResMed Inc. $RMD

Nordea Investment Management AB lifted its holdings in shares of ResMed Inc. (NYSE:RMD) by 3.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 790,872 shares of the medical equipment provider’s stock after purchasing an additional 26,629 shares during the period. Nordea Investment Management AB’s holdings in ResMed were worth $217,387,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Tokio Marine Asset Management Co. Ltd. boosted its stake in ResMed by 1.4% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,116 shares of the medical equipment provider’s stock valued at $1,400,000 after purchasing an additional 71 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of ResMed by 1.1% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 377,056 shares of the medical equipment provider’s stock valued at $103,212,000 after purchasing an additional 4,222 shares in the last quarter. MGO One Seven LLC purchased a new position in shares of ResMed during the third quarter valued at approximately $308,000. Citizens Financial Group Inc. RI boosted its position in shares of ResMed by 13.8% during the third quarter. Citizens Financial Group Inc. RI now owns 1,280 shares of the medical equipment provider’s stock valued at $350,000 after buying an additional 155 shares during the last quarter. Finally, Forum Financial Management LP grew its holdings in ResMed by 55.8% during the third quarter. Forum Financial Management LP now owns 1,851 shares of the medical equipment provider’s stock worth $507,000 after buying an additional 663 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

ResMed Price Performance

Shares of NYSE:RMD opened at $254.89 on Wednesday. The firm has a market capitalization of $37.20 billion, a PE ratio of 26.09, a P/E/G ratio of 1.74 and a beta of 0.88. The company has a quick ratio of 2.13, a current ratio of 2.89 and a debt-to-equity ratio of 0.07. The company has a 50-day moving average price of $248.80 and a two-hundred day moving average price of $263.25. ResMed Inc. has a twelve month low of $199.92 and a twelve month high of $293.81.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Friday, October 31st. The medical equipment provider reported $2.55 EPS for the quarter, beating analysts’ consensus estimates of $2.49 by $0.06. The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.33 billion. ResMed had a net margin of 27.35% and a return on equity of 25.45%. ResMed’s revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.20 EPS. Equities analysts forecast that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, November 13th were given a $0.60 dividend. The ex-dividend date was Thursday, November 13th. This represents a $2.40 annualized dividend and a dividend yield of 0.9%. ResMed’s payout ratio is 24.56%.

Insider Activity at ResMed

In other ResMed news, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $248.46, for a total value of $1,240,063.86. Following the completion of the transaction, the chief executive officer owned 466,223 shares in the company, valued at $115,837,766.58. This trade represents a 1.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $248.83, for a total value of $497,660.00. Following the transaction, the director directly owned 66,773 shares of the company’s stock, valued at $16,615,125.59. The trade was a 2.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 21,594 shares of company stock worth $5,403,495. 0.65% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on RMD shares. UBS Group reaffirmed a “buy” rating and set a $345.00 price objective on shares of ResMed in a report on Friday, December 12th. Citigroup started coverage on shares of ResMed in a research report on Thursday, September 18th. They set a “buy” rating and a $330.00 price target on the stock. Wells Fargo & Company began coverage on shares of ResMed in a research report on Monday, October 13th. They issued an “equal weight” rating and a $280.00 price objective for the company. Stifel Nicolaus cut their target price on ResMed from $270.00 to $260.00 and set a “hold” rating on the stock in a research note on Thursday, December 18th. Finally, KeyCorp increased their price target on ResMed from $298.00 to $299.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $296.09.

About ResMed

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.