XTX Topco Ltd Purchases 7,478 Shares of ResMed Inc. (NYSE:RMD)

XTX Topco Ltd increased its position in shares of ResMed Inc. (NYSE:RMD) by 195.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,304 shares of the medical equipment provider’s stock after acquiring an additional 7,478 shares during the period. XTX Topco Ltd’s holdings in ResMed were worth $2,164,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in RMD. Bank of New York Mellon Corp increased its stake in shares of ResMed by 230.3% in the 1st quarter. Bank of New York Mellon Corp now owns 3,813,119 shares of the medical equipment provider’s stock valued at $755,112,000 after purchasing an additional 2,658,709 shares during the last quarter. Norges Bank bought a new position in ResMed in the fourth quarter valued at about $233,966,000. Los Angeles Capital Management LLC grew its position in ResMed by 3,599.0% in the first quarter. Los Angeles Capital Management LLC now owns 499,031 shares of the medical equipment provider’s stock valued at $98,823,000 after acquiring an additional 485,540 shares during the last quarter. Greenvale Capital LLP raised its stake in ResMed by 198.3% during the fourth quarter. Greenvale Capital LLP now owns 551,901 shares of the medical equipment provider’s stock worth $94,938,000 after acquiring an additional 366,901 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of ResMed in the second quarter worth about $42,036,000. 54.98% of the stock is owned by institutional investors.

Insider Transactions at ResMed

In other ResMed news, insider Justin Leong sold 48,000 shares of ResMed stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $217.07, for a total value of $10,419,360.00. Following the completion of the sale, the insider now directly owns 18,741 shares in the company, valued at $4,068,108.87. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, General Counsel Michael J. Rider sold 882 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $231.00, for a total transaction of $203,742.00. Following the transaction, the general counsel now directly owns 10,512 shares of the company’s stock, valued at $2,428,272. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Justin Leong sold 48,000 shares of ResMed stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $217.07, for a total transaction of $10,419,360.00. Following the transaction, the insider now owns 18,741 shares of the company’s stock, valued at $4,068,108.87. The disclosure for this sale can be found here. In the last ninety days, insiders sold 102,931 shares of company stock valued at $22,644,807. Corporate insiders own 1.21% of the company’s stock.

ResMed Price Performance

Shares of RMD opened at $237.90 on Thursday. The business has a 50-day moving average of $225.25 and a 200-day moving average of $208.53. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.59 and a quick ratio of 1.69. The company has a market capitalization of $34.95 billion, a price-to-earnings ratio of 36.54, a price-to-earnings-growth ratio of 2.49 and a beta of 0.69. ResMed Inc. has a 1 year low of $132.24 and a 1 year high of $255.18.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.05. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the previous year, the company earned $1.60 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, equities research analysts anticipate that ResMed Inc. will post 8.92 earnings per share for the current year.

ResMed Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, August 15th will be given a dividend of $0.53 per share. The ex-dividend date is Thursday, August 15th. This represents a $2.12 dividend on an annualized basis and a yield of 0.89%. This is a boost from ResMed’s previous quarterly dividend of $0.48. ResMed’s dividend payout ratio is 32.57%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. KeyCorp lifted their price target on shares of ResMed from $238.00 to $251.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Oppenheimer downgraded shares of ResMed from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. StockNews.com downgraded ResMed from a “buy” rating to a “hold” rating in a report on Friday, August 30th. Citigroup cut ResMed from a “buy” rating to a “neutral” rating in a report on Monday, June 24th. Finally, Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research note on Wednesday. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $199.70.

About ResMed

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.