SEB Asset Management AB Makes New Investment in ResMed Inc. $RMD

SEB Asset Management AB bought a new stake in shares of ResMed Inc. (NYSE:RMD) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 140,030 shares of the medical equipment provider’s stock, valued at approximately $31,434,000. SEB Asset Management AB owned 0.10% of ResMed as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the stock. State Street Corp raised its holdings in shares of ResMed by 1.2% during the fourth quarter. State Street Corp now owns 6,625,408 shares of the medical equipment provider’s stock valued at $1,595,862,000 after purchasing an additional 76,244 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in ResMed by 0.7% in the first quarter. Bank of New York Mellon Corp now owns 4,925,386 shares of the medical equipment provider’s stock worth $1,105,651,000 after purchasing an additional 34,732 shares during the last quarter. Geode Capital Management LLC boosted its holdings in ResMed by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 4,302,906 shares of the medical equipment provider’s stock worth $1,032,877,000 after purchasing an additional 51,218 shares during the last quarter. Morgan Stanley grew its position in ResMed by 25.0% in the 4th quarter. Morgan Stanley now owns 2,891,697 shares of the medical equipment provider’s stock worth $696,523,000 after purchasing an additional 578,559 shares during the period. Finally, Northern Trust Corp grew its position in ResMed by 5.2% in the 4th quarter. Northern Trust Corp now owns 1,785,384 shares of the medical equipment provider’s stock worth $430,045,000 after purchasing an additional 87,502 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Stock Down 0.1%

RMD opened at $198.86 on Monday. 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 Inc. has a 1-year low of $180.26 and a 1-year high of $293.81. The company has a market capitalization of $28.85 billion, a PE ratio of 19.18, a PEG ratio of 1.19 and a beta of 0.78. The firm’s 50 day simple moving average is $199.40 and its two-hundred day simple moving average is $226.52.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share for the quarter, topping the consensus estimate of $2.79 by $0.07. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter last year, the company posted $2.37 EPS. The company’s revenue was up 10.8% compared to the same quarter last year. As a group, equities analysts forecast that ResMed Inc. will post 11.13 EPS for the current year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, May 14th were given a dividend of $0.60 per share. The ex-dividend date was Thursday, May 14th. This represents a $2.40 annualized dividend and a yield of 1.2%. ResMed’s payout ratio is 23.14%.

Insiders Place Their Bets

In other ResMed news, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $218.55, for a total transaction of $1,090,783.05. Following the completion of the sale, the chief executive officer owned 466,223 shares of the company’s stock, valued at approximately $101,893,036.65. The trade was a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 14,973 shares of company stock worth $3,096,067 in the last quarter. 0.65% of the stock is currently owned by insiders.

Analyst Ratings Changes

RMD has been the topic of several research analyst reports. Citigroup reissued a “neutral” rating and set a $235.00 price target (down from $270.00) on shares of ResMed in a report on Sunday, July 12th. Weiss Ratings lowered ResMed from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 22nd. JPMorgan Chase & Co. assumed coverage on ResMed in a research report on Wednesday, April 15th. They set an “overweight” rating for the company. Royal Bank Of Canada downgraded ResMed from an “outperform” rating to a “sector perform” rating and set a $234.00 target price on the stock. in a report on Thursday. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $230.00 target price (down from $286.00) on shares of ResMed in a research report on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, ResMed presently has a consensus rating of “Moderate Buy” and a consensus target price of $250.00.

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.