Virtu Financial LLC Takes $1.29 Million Position in ResMed Inc. (NYSE:RMD)

Virtu Financial LLC purchased a new position in ResMed Inc. (NYSE:RMDFree Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,519 shares of the medical equipment provider’s stock, valued at approximately $1,293,000.

Several other hedge funds have also recently modified their holdings of the stock. J.P. Morgan Private Wealth Advisors LLC acquired a new position in shares of ResMed in the third quarter valued at about $481,000. HighTower Advisors LLC lifted its stake in ResMed by 11.3% during the 3rd quarter. HighTower Advisors LLC now owns 48,922 shares of the medical equipment provider’s stock valued at $7,213,000 after acquiring an additional 4,959 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in shares of ResMed by 179.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 160,523 shares of the medical equipment provider’s stock valued at $24,345,000 after acquiring an additional 103,099 shares during the last quarter. Rafferty Asset Management LLC increased its stake in shares of ResMed by 8.1% in the third quarter. Rafferty Asset Management LLC now owns 15,330 shares of the medical equipment provider’s stock worth $2,267,000 after acquiring an additional 1,147 shares during the period. Finally, Envestnet Portfolio Solutions Inc. purchased a new position in shares of ResMed during the third quarter worth $437,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on RMD shares. Mizuho reaffirmed a “buy” rating and set a $215.00 price target on shares of ResMed in a research report on Wednesday, March 27th. Oppenheimer reduced their price target on ResMed from $205.00 to $200.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. KeyCorp upped their price objective on ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Royal Bank of Canada lifted their target price on shares of ResMed from $187.00 to $200.00 and gave the company a “sector perform” rating in a report on Friday, April 26th. Finally, Needham & Company LLC increased their price target on shares of ResMed from $224.00 to $236.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $202.80.

Read Our Latest Stock Report on RMD

Insiders Place Their Bets

In other ResMed news, Director Karen Drexler sold 425 shares of ResMed stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $214.92, for a total transaction of $91,341.00. Following the transaction, the director now directly owns 8,446 shares of the company’s stock, valued at $1,815,214.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 sale, the director now directly owns 8,446 shares of the company’s stock, valued at $1,815,214.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Witte Jan De sold 360 shares of ResMed stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $218.29, for a total value of $78,584.40. Following the completion of the transaction, the director now 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. Insiders sold 31,151 shares of company stock valued at $6,666,409 in the last three months. 1.21% of the stock is currently owned by insiders.

ResMed Price Performance

Shares of NYSE:RMD traded down $0.65 during trading on Friday, reaching $211.73. The stock had a trading volume of 1,113,732 shares, compared to its average volume of 786,775. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.97 and a current ratio of 3.04. ResMed Inc. has a 1-year low of $132.24 and a 1-year high of $229.97. The stock has a market cap of $31.11 billion, a PE ratio of 32.52, a PEG ratio of 2.09 and a beta of 0.68. The business has a fifty day moving average price of $205.71 and a 200-day moving average price of $188.45.

ResMed (NYSE:RMDGet Free Report) last issued its earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $1.91 by $0.22. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.17 billion. ResMed had a net margin of 20.91% and a return on equity of 24.43%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.68 earnings per share. On average, equities analysts forecast that ResMed Inc. will post 7.7 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 9th were given a $0.48 dividend. The ex-dividend date was Wednesday, May 8th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.91%. ResMed’s dividend payout ratio (DPR) is presently 29.49%.

About ResMed

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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