SRN Advisors LLC Purchases New Holdings in ResMed Inc. (NYSE:RMD)

SRN Advisors LLC acquired a new position in shares of ResMed Inc. (NYSE:RMD) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 986 shares of the medical equipment provider’s stock, valued at approximately $225,000.

Other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in ResMed by 10.9% during the third quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock valued at $939,114,000 after buying an additional 380,383 shares in the last quarter. Los Angeles Capital Management LLC grew its position in shares of ResMed by 60.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 668,908 shares of the medical equipment provider’s stock worth $152,973,000 after acquiring an additional 250,746 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of ResMed by 726.3% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,801 shares of the medical equipment provider’s stock valued at $69,281,000 after acquiring an additional 249,454 shares during the last quarter. Nordea Investment Management AB raised its position in shares of ResMed by 92.7% during the 4th quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider’s stock valued at $103,214,000 after acquiring an additional 215,561 shares in the last quarter. Finally, State Street Corp lifted its stake in ResMed by 1.9% during the third quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider’s stock worth $1,528,590,000 after purchasing an additional 116,918 shares during the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RMD has been the topic of a number of research reports. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a report on Friday, January 31st. The Goldman Sachs Group began coverage on shares of ResMed in a research note on Thursday, January 16th. They set a “buy” rating on the stock. Stifel Nicolaus began coverage on ResMed in a research note on Friday, December 13th. They issued a “hold” rating and a $250.00 target price for the company. UBS Group upgraded ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Finally, Piper Sandler boosted their price objective on ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $244.73.

ResMed Price Performance

Shares of RMD opened at $234.46 on Thursday. ResMed Inc. has a one year low of $170.56 and a one year high of $263.05. The stock’s fifty day moving average is $237.15 and its 200-day moving average is $239.62. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. The firm has a market capitalization of $34.43 billion, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 1.53 and a beta of 0.70.

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

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be paid a dividend of $0.53 per share. The ex-dividend date is Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.90%. ResMed’s dividend payout ratio is presently 25.03%.

Insider Buying and Selling

In related news, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the transaction, the chief executive officer now directly owns 455,472 shares of the company’s stock, valued at $107,842,105.44. The trade was a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $245.65, for a total transaction of $491,300.00. Following the completion of the sale, the director now owns 81,218 shares in the company, valued at approximately $19,951,201.70. This trade represents a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,147 shares of company stock valued at $2,905,745 over the last quarter. Corporate insiders own 0.71% of the company’s stock.

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.