Forsta AP Fonden Has $12.92 Million Holdings in ResMed Inc. (NYSE:RMD)

Forsta AP Fonden lessened its stake in shares of ResMed Inc. (NYSE:RMD) by 0.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 56,500 shares of the medical equipment provider’s stock after selling 200 shares during the period. Forsta AP Fonden’s holdings in ResMed were worth $12,921,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of RMD. True Wealth Design LLC raised its holdings in ResMed by 2,200.0% during the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 110 shares during the period. Ashton Thomas Securities LLC purchased a new position in ResMed during the 3rd quarter valued at about $34,000. Rosenberg Matthew Hamilton purchased a new position in ResMed during the 4th quarter valued at about $54,000. Capital Performance Advisors LLP purchased a new position in ResMed during the 3rd quarter valued at about $60,000. Finally, Quarry LP grew its stake in ResMed by 271.9% during the 2nd quarter. Quarry LP now owns 331 shares of the medical equipment provider’s stock valued at $63,000 after acquiring an additional 242 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insiders Place Their Bets

In other news, insider Justin Leong sold 6,160 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the completion of the transaction, the insider now directly owns 21,718 shares in the company, valued at $5,279,428.62. The trade was a 22.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $248.74, for a total value of $497,480.00. Following the transaction, the director now owns 83,204 shares of the company’s stock, valued at approximately $20,696,162.96. This trade represents a 2.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,099 shares of company stock valued at $2,719,385 over the last 90 days. 0.71% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

RMD has been the topic of several research analyst reports. The Goldman Sachs Group initiated coverage on ResMed in a research note on Thursday, January 16th. They set a “buy” rating on the stock. Robert W. Baird lifted their target price on ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. KeyCorp lifted their target price on ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Finally, Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, ResMed currently has an average rating of “Moderate Buy” and an average price target of $238.40.

ResMed Stock Up 1.3 %

Shares of ResMed stock opened at $253.16 on Thursday. The stock has a market capitalization of $37.16 billion, a P/E ratio of 33.53, a PEG ratio of 1.78 and a beta of 0.70. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The stock has a 50 day moving average price of $239.80 and a two-hundred day moving average price of $235.71. ResMed Inc. has a 12-month low of $170.56 and a 12-month high of $260.49.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company 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 ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.