ResMed Inc. (NYSE:RMD) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC raised its holdings in shares of ResMed Inc. (NYSE:RMD) by 21.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,046 shares of the medical equipment provider’s stock after buying an additional 545 shares during the period. GAMMA Investing LLC’s holdings in ResMed were worth $697,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of RMD. Natixis Advisors LLC boosted its position in ResMed by 1.0% during the 2nd quarter. Natixis Advisors LLC now owns 39,053 shares of the medical equipment provider’s stock worth $7,476,000 after purchasing an additional 372 shares during the period. TD Asset Management Inc lifted its stake in shares of ResMed by 14.7% during the second quarter. TD Asset Management Inc now owns 77,474 shares of the medical equipment provider’s stock worth $14,830,000 after purchasing an additional 9,930 shares in the last quarter. National Bank of Canada FI boosted its position in shares of ResMed by 14.5% in the second quarter. National Bank of Canada FI now owns 47,531 shares of the medical equipment provider’s stock worth $8,885,000 after buying an additional 6,014 shares during the period. Private Advisor Group LLC grew its stake in shares of ResMed by 15.1% in the second quarter. Private Advisor Group LLC now owns 3,071 shares of the medical equipment provider’s stock valued at $588,000 after buying an additional 402 shares in the last quarter. Finally, Candriam S.C.A. raised its holdings in shares of ResMed by 10.8% during the 2nd quarter. Candriam S.C.A. now owns 9,371 shares of the medical equipment provider’s stock valued at $1,794,000 after buying an additional 912 shares during the period. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at ResMed

In other news, CEO Michael J. Farrell sold 14,683 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $231.91, for a total transaction of $3,405,134.53. Following the completion of the transaction, the chief executive officer now owns 464,169 shares in the company, valued at approximately $107,645,432.79. This represents a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Witte Jan De sold 796 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total transaction of $198,052.76. Following the completion of the sale, the director now directly owns 6,723 shares in the company, valued at approximately $1,672,749.63. This trade represents a 10.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 45,725 shares of company stock valued at $10,779,048 in the last quarter. Insiders own 0.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RMD. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research report on Friday, October 25th. KeyCorp raised their price target on shares of ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Baird R W upgraded shares of ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. Royal Bank of Canada upped their price objective on shares of ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Finally, Robert W. Baird lifted their target price on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $227.91.

ResMed Trading Up 1.4 %

Shares of NYSE RMD opened at $231.67 on Friday. 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’s 50 day moving average price is $240.72 and its two-hundred day moving average price is $229.83. ResMed Inc. has a 52-week low of $164.12 and a 52-week high of $260.49. The stock has a market capitalization of $34.01 billion, a P/E ratio of 30.68, a PEG ratio of 1.73 and a beta of 0.70.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.17. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The business’s revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.64 EPS. On average, analysts anticipate that ResMed Inc. will post 9.34 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend was Thursday, November 7th. ResMed’s dividend payout ratio (DPR) is presently 28.08%.

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.