Skandinaviska Enskilda Banken AB publ Sells 49,690 Shares of ResMed Inc. $RMD

Skandinaviska Enskilda Banken AB publ cut its stake in ResMed Inc. (NYSE:RMD) by 36.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 86,014 shares of the medical equipment provider’s stock after selling 49,690 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in ResMed were worth $23,545,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of RMD. Quadcap Wealth Management LLC grew its holdings in shares of ResMed by 2.5% in the 2nd quarter. Quadcap Wealth Management LLC now owns 1,880 shares of the medical equipment provider’s stock valued at $485,000 after buying an additional 45 shares during the period. NBT Bank N A NY increased its holdings in shares of ResMed by 22.9% in the third quarter. NBT Bank N A NY now owns 252 shares of the medical equipment provider’s stock worth $69,000 after acquiring an additional 47 shares in the last quarter. OFI Invest Asset Management increased its holdings in shares of ResMed by 10.4% in the third quarter. OFI Invest Asset Management now owns 509 shares of the medical equipment provider’s stock worth $139,000 after acquiring an additional 48 shares in the last quarter. IMA Advisory Services Inc. lifted its holdings in shares of ResMed by 52.7% during the 3rd quarter. IMA Advisory Services Inc. now owns 139 shares of the medical equipment provider’s stock valued at $38,000 after purchasing an additional 48 shares in the last quarter. Finally, New Wave Wealth Advisors LLC grew its position in shares of ResMed by 2.8% in the 3rd quarter. New Wave Wealth Advisors LLC now owns 1,899 shares of the medical equipment provider’s stock valued at $520,000 after purchasing an additional 52 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Trading Up 1.2%

NYSE RMD opened at $255.63 on Wednesday. ResMed Inc. has a 12 month low of $199.92 and a 12 month high of $293.81. The company has a current ratio of 3.06, a quick ratio of 2.32 and a debt-to-equity ratio of 0.06. The stock has a 50 day moving average of $252.79 and a 200-day moving average of $262.44. The company has a market cap of $37.24 billion, a PE ratio of 25.28, a PEG ratio of 1.68 and a beta of 0.87.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, January 29th. The medical equipment provider reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.13. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter last year, the firm posted $2.43 EPS. The company’s quarterly revenue was up 11.0% on a year-over-year basis. On average, equities research analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Thursday, February 12th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Thursday, February 12th. ResMed’s dividend payout ratio is 23.74%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RMD. Wells Fargo & Company upped their price target on shares of ResMed from $265.00 to $270.00 and gave the company an “equal weight” rating in a report on Friday, January 30th. Weiss Ratings upgraded ResMed from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 9th. UBS Group restated a “buy” rating and issued a $345.00 price target on shares of ResMed in a report on Friday, December 12th. Robert W. Baird set a $281.00 price objective on ResMed in a report on Friday, January 30th. Finally, Royal Bank Of Canada lifted their target price on ResMed from $311.00 to $314.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $299.27.

Insider Buying and Selling at ResMed

In other news, Director Witte Jan De sold 2,055 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $255.00, for a total transaction of $524,025.00. Following the completion of the sale, the director owned 4,261 shares in the company, valued at approximately $1,086,555. This trade represents a 32.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $273.78, for a total transaction of $1,366,435.98. Following the sale, the chief executive officer directly owned 466,223 shares of the company’s stock, valued at $127,642,532.94. The trade was a 1.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 18,137 shares of company stock valued at $4,658,832 in the last quarter. 0.65% of the stock is currently owned by insiders.

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.