Semanteon Capital Management LP Increases Stake in ResMed Inc. (NYSE:RMD)

Semanteon Capital Management LP grew its holdings in shares of ResMed Inc. (NYSE:RMD) by 5.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,140 shares of the medical equipment provider’s stock after buying an additional 243 shares during the period. Semanteon Capital Management LP’s holdings in ResMed were worth $1,175,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. GSA Capital Partners LLP purchased a new stake in shares of ResMed during the third quarter valued at $410,000. OneDigital Investment Advisors LLC grew its stake in ResMed by 4.1% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,558 shares of the medical equipment provider’s stock worth $624,000 after acquiring an additional 100 shares in the last quarter. Empowered Funds LLC increased its position in shares of ResMed by 284.3% during the third quarter. Empowered Funds LLC now owns 8,208 shares of the medical equipment provider’s stock worth $2,004,000 after acquiring an additional 6,072 shares during the period. Natixis Advisors LLC raised its stake in shares of ResMed by 31.9% during the third quarter. Natixis Advisors LLC now owns 51,498 shares of the medical equipment provider’s stock valued at $12,572,000 after acquiring an additional 12,445 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its holdings in shares of ResMed by 12.2% in the third quarter. Thrivent Financial for Lutherans now owns 6,952 shares of the medical equipment provider’s stock valued at $1,697,000 after purchasing an additional 755 shares during the period. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

ResMed Stock Performance

RMD opened at $221.13 on Friday. The firm’s 50-day moving average price is $235.19 and its 200-day moving average price is $239.24. The company has a market cap of $32.48 billion, a P/E ratio of 26.11, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 52-week low of $172.19 and a 52-week high of $263.05.

ResMed (NYSE:RMD) last released its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. As a group, equities analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 13th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.96%. The ex-dividend date was Thursday, February 13th. ResMed’s dividend payout ratio is currently 25.03%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RMD. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research report on Saturday, March 15th. JPMorgan Chase & Co. lifted their price objective on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Stifel Nicolaus dropped their target price on shares of ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a report on Wednesday, March 5th. KeyCorp boosted their price target on shares of ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, Piper Sandler lifted their price objective on shares of ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, ResMed currently has a consensus rating of “Moderate Buy” and a consensus price target of $246.83.

Insider Buying and Selling at ResMed

In related news, insider Kaushik Ghoshal sold 9,745 shares of ResMed stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $239.31, for a total value of $2,332,075.95. Following the completion of the transaction, the insider now owns 9,725 shares in the company, valued at $2,327,289.75. The trade was a 50.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total value of $484,220.00. Following the completion of the transaction, the director now directly owns 77,218 shares of the company’s stock, valued at $18,695,249.98. The trade was a 2.52 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,940 shares of company stock valued at $9,164,385. 0.71% of the stock is owned by company insiders.

About ResMed

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.