ResMed Inc. (NYSE:RMD) Shares Bought by Greenvale Capital LLP

Greenvale Capital LLP lifted its stake in ResMed Inc. (NYSE:RMD) by 61.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 725,000 shares of the medical equipment provider’s stock after acquiring an additional 275,000 shares during the period. ResMed accounts for approximately 8.7% of Greenvale Capital LLP’s holdings, making the stock its 5th biggest position. Greenvale Capital LLP owned approximately 0.49% of ResMed worth $138,780,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in RMD. Dorsey & Whitney Trust CO LLC increased its stake in shares of ResMed by 3.7% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 1,473 shares of the medical equipment provider’s stock worth $292,000 after purchasing an additional 52 shares during the last quarter. QRG Capital Management Inc. increased its stake in shares of ResMed by 4.5% during the 2nd quarter. QRG Capital Management Inc. now owns 1,291 shares of the medical equipment provider’s stock worth $247,000 after purchasing an additional 56 shares during the last quarter. Inspire Advisors LLC increased its stake in shares of ResMed by 1.9% during the 2nd quarter. Inspire Advisors LLC now owns 3,060 shares of the medical equipment provider’s stock worth $586,000 after purchasing an additional 56 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of ResMed by 1.9% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 3,188 shares of the medical equipment provider’s stock worth $631,000 after buying an additional 60 shares during the period. Finally, Gulf International Bank UK Ltd boosted its holdings in shares of ResMed by 0.5% during the 1st quarter. Gulf International Bank UK Ltd now owns 12,614 shares of the medical equipment provider’s stock worth $2,497,000 after buying an additional 66 shares during the period. 54.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at ResMed

In other ResMed news, insider Justin Leong sold 48,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were 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 owns 18,741 shares in the company, valued at approximately $4,068,108.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Michael J. Farrell sold 14,683 shares of ResMed stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $192.97, for a total transaction of $2,833,378.51. Following the completion of the sale, the chief executive officer now owns 440,799 shares in the company, valued at approximately $85,060,983.03. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction of $10,419,360.00. Following the sale, the insider now owns 18,741 shares of the company’s stock, valued at approximately $4,068,108.87. The disclosure for this sale can be found here. In the last 90 days, insiders sold 102,931 shares of company stock worth $22,644,807. 1.21% of the stock is currently owned by corporate insiders.

ResMed Trading Up 2.1 %

Shares of ResMed stock opened at $244.13 on Tuesday. The stock has a market capitalization of $35.86 billion, a P/E ratio of 37.50, a price-to-earnings-growth ratio of 2.46 and a beta of 0.69. The company has a quick ratio of 1.69, a current ratio of 2.59 and a debt-to-equity ratio of 0.14. The company has a 50-day simple moving average of $231.46 and a 200 day simple moving average of $211.80. ResMed Inc. has a 12-month low of $132.24 and a 12-month high of $255.18.

ResMed (NYSE:RMD) last announced its 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. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.22 billion. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the company posted $1.60 EPS. Research analysts expect that ResMed Inc. will post 8.92 earnings per share for the current fiscal year.

ResMed Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, August 15th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend was Thursday, August 15th. This is a boost from ResMed’s previous quarterly dividend of $0.48. ResMed’s dividend payout ratio (DPR) is presently 32.57%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on RMD shares. Bank of America upped their price objective on shares of ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Royal Bank of Canada upped their price objective on shares of ResMed from $204.00 to $206.00 and gave the stock a “sector perform” rating in a report on Friday, August 2nd. Wolfe Research reaffirmed an “underperform” rating and set a $180.00 price objective on shares of ResMed in a report on Wednesday, September 18th. Citigroup downgraded shares of ResMed from a “buy” rating to a “neutral” rating in a report on Monday, June 24th. Finally, Robert W. Baird initiated coverage on shares of ResMed in a report on Tuesday, September 24th. They set an “outperform” rating and a $280.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $212.25.

ResMed Profile

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.