Nykredit A S Makes New Investment in ResMed Inc. $RMD

Nykredit A S bought a new stake in shares of ResMed Inc. (NYSE:RMD) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 338,702 shares of the medical equipment provider’s stock, valued at approximately $66,006,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new position in shares of ResMed during the fourth quarter valued at about $25,000. Bell Investment Advisors Inc purchased a new stake in ResMed during the 2nd quarter worth approximately $26,000. Imprint Wealth LLC acquired a new position in ResMed during the 3rd quarter valued at approximately $26,000. WFA of San Diego LLC purchased a new position in shares of ResMed in the second quarter worth $26,000. Finally, Sunbelt Securities Inc. acquired a new stake in shares of ResMed during the third quarter worth $31,000. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at ResMed

In related news, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $205.69, for a total transaction of $1,026,598.79. Following the sale, the chief executive officer directly owned 466,256 shares of the company’s stock, valued at approximately $95,904,196.64. This represents a 1.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 8,000 shares of ResMed stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $225.00, for a total transaction of $1,800,000.00. Following the completion of the transaction, the director directly owned 52,773 shares of the company’s stock, valued at $11,873,925. The trade was a 13.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 22,973 shares of company stock valued at $4,885,436. Company insiders own 0.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. The Goldman Sachs Group restated a “buy” rating on shares of ResMed in a research note on Wednesday, July 1st. Citigroup restated a “neutral” rating and issued a $235.00 price objective (down from $270.00) on shares of ResMed in a research note on Sunday, July 12th. Weiss Ratings raised ResMed from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Piper Sandler cut their price target on shares of ResMed from $233.00 to $225.00 and set a “neutral” rating on the stock in a report on Friday, August 7th. Finally, Wells Fargo & Company reduced their price target on shares of ResMed from $225.00 to $215.00 and set an “equal weight” rating for the company in a research report on Friday, August 7th. Six investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, ResMed has a consensus rating of “Hold” and a consensus target price of $240.31.

ResMed Stock Down 0.1%

ResMed stock opened at $231.03 on Thursday. The firm has a market cap of $33.33 billion, a price-to-earnings ratio of 22.15, a price-to-earnings-growth ratio of 1.45 and a beta of 0.77. ResMed Inc. has a 52 week low of $180.26 and a 52 week high of $284.87. The business’s 50-day moving average price is $214.34 and its 200 day moving average price is $218.32. The company has a quick ratio of 2.42, a current ratio of 3.10 and a debt-to-equity ratio of 0.06.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, August 6th. The medical equipment provider reported $2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.06. ResMed had a return on equity of 25.58% and a net margin of 26.94%.The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the previous year, the company posted $2.55 earnings per share. ResMed’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, sell-side analysts anticipate that ResMed Inc. will post 12.03 earnings per share for the current year.

ResMed Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, August 20th will be paid a $0.66 dividend. The ex-dividend date is Thursday, August 20th. This represents a $2.64 annualized dividend and a dividend yield of 1.1%. This is an increase from ResMed’s previous quarterly dividend of $0.60. ResMed’s dividend payout ratio (DPR) is presently 25.31%.

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.