Skandinaviska Enskilda Banken AB publ Has $23.55 Million Stock Holdings in ResMed Inc. $RMD

Skandinaviska Enskilda Banken AB publ reduced its holdings in ResMed Inc. (NYSE:RMD) by 36.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 86,014 shares of the medical equipment provider’s stock after selling 49,690 shares during the period. Skandinaviska Enskilda Banken AB publ owned approximately 0.06% of ResMed worth $23,545,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of ResMed by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 19,040,440 shares of the medical equipment provider’s stock worth $5,211,940,000 after purchasing an additional 293,515 shares during the period. State Street Corp increased its stake in ResMed by 1.0% during the second quarter. State Street Corp now owns 6,615,852 shares of the medical equipment provider’s stock valued at $1,706,890,000 after acquiring an additional 64,448 shares during the period. Geode Capital Management LLC raised its holdings in ResMed by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 4,215,145 shares of the medical equipment provider’s stock valued at $1,083,409,000 after acquiring an additional 98,717 shares in the last quarter. Norges Bank acquired a new position in ResMed in the 2nd quarter valued at approximately $306,452,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of ResMed by 2.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,021,001 shares of the medical equipment provider’s stock worth $263,418,000 after acquiring an additional 22,873 shares during the period. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RMD. Robert W. Baird set a $281.00 target price on ResMed in a research note on Friday, January 30th. Morgan Stanley set a $305.00 price target on shares of ResMed in a research report on Friday, October 31st. UBS Group reaffirmed a “buy” rating and set a $345.00 price objective on shares of ResMed in a report on Friday, December 12th. KeyCorp reiterated an “overweight” rating and issued a $302.00 price objective on shares of ResMed in a research note on Friday, January 30th. Finally, Royal Bank Of Canada boosted their price target on ResMed from $311.00 to $314.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $299.27.

ResMed Stock Performance

Shares of NYSE:RMD opened at $255.63 on Wednesday. The business has a fifty day moving average of $252.79 and a 200-day moving average of $262.44. The firm has a market cap of $37.24 billion, a PE ratio of 25.28, a price-to-earnings-growth ratio of 1.68 and a beta of 0.87. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.32 and a current ratio of 3.06. ResMed Inc. has a twelve month low of $199.92 and a twelve month high of $293.81.

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

ResMed Announces Dividend

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

Insider Activity

In other news, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $248.46, for a total value of $1,240,063.86. Following the transaction, the chief executive officer owned 466,223 shares of the company’s stock, valued at approximately $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 Witte Jan De sold 2,055 shares of ResMed stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $255.00, for a total transaction of $524,025.00. Following the sale, the director owned 4,261 shares of the company’s stock, valued at approximately $1,086,555. This represents a 32.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 18,137 shares of company stock valued at $4,658,832 over the last 90 days. 0.65% of the stock is owned by company insiders.

ResMed Company 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.