Nordea Investment Management AB Has $37.51 Million Stake in ResMed Inc. (NYSE:RMD)

Nordea Investment Management AB increased its holdings in ResMed Inc. (NYSE:RMD) by 1,844.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 189,652 shares of the medical equipment provider’s stock after buying an additional 179,899 shares during the period. Nordea Investment Management AB owned 0.13% of ResMed worth $37,506,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RMD. Bank of New York Mellon Corp raised its position in shares of ResMed by 230.3% in the first quarter. Bank of New York Mellon Corp now owns 3,813,119 shares of the medical equipment provider’s stock valued at $755,112,000 after buying an additional 2,658,709 shares in the last quarter. Norges Bank bought a new position in ResMed in the fourth quarter valued at approximately $233,966,000. Morgan Stanley increased its stake in ResMed by 102.4% in the third quarter. Morgan Stanley now owns 2,329,618 shares of the medical equipment provider’s stock valued at $344,481,000 after acquiring an additional 1,178,547 shares during the last quarter. LGT Capital Partners LTD. bought a new position in ResMed in the fourth quarter valued at approximately $117,621,000. Finally, Los Angeles Capital Management LLC increased its stake in ResMed by 3,599.0% in the first quarter. Los Angeles Capital Management LLC now owns 499,031 shares of the medical equipment provider’s stock valued at $98,823,000 after acquiring an additional 485,540 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Trading Down 0.9 %

NYSE RMD opened at $192.92 on Tuesday. The business has a 50 day simple moving average of $207.99 and a 200 day simple moving average of $192.17. ResMed Inc. has a one year low of $132.24 and a one year high of $229.97. The stock has a market capitalization of $28.34 billion, a P/E ratio of 29.63, a P/E/G ratio of 1.69 and a beta of 0.66. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.04 and a quick ratio of 1.97.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.22. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.17 billion. ResMed had a return on equity of 24.43% and a net margin of 20.91%. ResMed’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the company posted $1.68 earnings per share. Research analysts expect that ResMed Inc. will post 7.7 earnings per share for the current year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 9th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date was Wednesday, May 8th. ResMed’s dividend payout ratio is currently 29.49%.

Insider Activity

In other news, Director Karen Drexler sold 425 shares of ResMed stock in a transaction on Monday, April 29th. The stock was sold at an average price of $214.92, for a total value of $91,341.00. Following the completion of the transaction, the director now directly owns 8,446 shares in the company, valued at $1,815,214.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Karen Drexler sold 425 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $214.92, for a total transaction of $91,341.00. Following the completion of the transaction, the director now directly owns 8,446 shares in the company, valued at $1,815,214.32. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Witte Jan De sold 360 shares of ResMed stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $218.29, for a total value of $78,584.40. Following the sale, the director now directly owns 7,519 shares of the company’s stock, valued at approximately $1,641,322.51. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,151 shares of company stock worth $6,666,409. 1.21% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Citigroup cut shares of ResMed from a “buy” rating to a “neutral” rating in a research note on Monday, June 24th. Royal Bank of Canada increased their target price on ResMed from $187.00 to $200.00 and gave the company a “sector perform” rating in a research report on Friday, April 26th. Oppenheimer downgraded ResMed from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. KeyCorp increased their target price on ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $236.00 target price on shares of ResMed in a research report on Monday, June 24th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $202.80.

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.