GAMMA Investing LLC Has $611,000 Stock Holdings in ResMed Inc. (NYSE:RMD)

GAMMA Investing LLC boosted its stake in ResMed Inc. (NYSE:RMD) by 88.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,501 shares of the medical equipment provider’s stock after purchasing an additional 1,177 shares during the quarter. GAMMA Investing LLC’s holdings in ResMed were worth $611,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Dorsey & Whitney Trust CO LLC grew its holdings in shares of ResMed by 3.7% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 1,473 shares of the medical equipment provider’s stock valued at $292,000 after buying an additional 52 shares during the last quarter. QRG Capital Management Inc. grew its holdings in shares of ResMed by 4.5% during the second quarter. QRG Capital Management Inc. now owns 1,291 shares of the medical equipment provider’s stock valued at $247,000 after buying an additional 56 shares during the last quarter. Inspire Advisors LLC grew its holdings in shares of ResMed by 1.9% during the second quarter. Inspire Advisors LLC now owns 3,060 shares of the medical equipment provider’s stock valued at $586,000 after buying an additional 56 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of ResMed by 1.9% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 3,188 shares of the medical equipment provider’s stock valued at $631,000 after buying an additional 60 shares during the last quarter. Finally, Gulf International Bank UK Ltd grew its holdings in shares of ResMed by 0.5% during the first quarter. Gulf International Bank UK Ltd now owns 12,614 shares of the medical equipment provider’s stock valued at $2,497,000 after buying an additional 66 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Stock Performance

ResMed stock opened at $236.06 on Wednesday. The firm’s 50 day simple moving average is $234.51 and its 200 day simple moving average is $213.37. The company has a current ratio of 2.59, a quick ratio of 1.69 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $34.68 billion, a PE ratio of 36.26, a price-to-earnings-growth ratio of 2.16 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 posted its earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.05. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.22 billion. ResMed had a net margin of 21.79% and a return on equity of 25.00%. ResMed’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.60 EPS. As a group, analysts expect that ResMed Inc. will post 9.02 earnings per share for the current fiscal year.

ResMed Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, August 15th were issued a $0.53 dividend. This is a positive change from ResMed’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.90%. ResMed’s dividend payout ratio is presently 32.57%.

Insider Transactions at ResMed

In other news, insider Justin Leong sold 48,000 shares of the stock in a transaction on 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 transaction, the insider now owns 18,741 shares of the company’s stock, valued at $4,068,108.87. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $237.20, for a total transaction of $474,400.00. Following the transaction, the director now owns 85,204 shares of the company’s stock, valued at approximately $20,210,388.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Justin Leong sold 48,000 shares of the stock in a transaction on 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 directly owns 18,741 shares in the company, valued at approximately $4,068,108.87. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,248 shares of company stock valued at $20,091,478 in the last quarter. Insiders own 1.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RMD. KeyCorp lifted their price objective on shares of ResMed from $238.00 to $251.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Robert W. Baird began coverage on shares of ResMed in a research report on Tuesday, September 24th. They issued an “outperform” rating and a $280.00 price objective on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research report on Tuesday, October 1st. Baird R W raised shares of ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, StockNews.com cut shares of ResMed from a “buy” rating to a “hold” rating in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $218.18.

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.