GSA Capital Partners LLP Invests $410,000 in ResMed Inc. (NYSE:RMD)

GSA Capital Partners LLP purchased a new stake in shares of ResMed Inc. (NYSE:RMD) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,680 shares of the medical equipment provider’s stock, valued at approximately $410,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp increased its stake in shares of ResMed by 51.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider’s stock valued at $1,105,022,000 after buying an additional 1,959,642 shares during the period. Los Angeles Capital Management LLC lifted its holdings in ResMed by 48.3% during the second quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider’s stock worth $141,694,000 after acquiring an additional 241,195 shares in the last quarter. Greenvale Capital LLP lifted its holdings in ResMed by 61.1% during the second quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock worth $138,780,000 after acquiring an additional 275,000 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in ResMed by 19.3% during the second quarter. Dimensional Fund Advisors LP now owns 661,717 shares of the medical equipment provider’s stock worth $126,670,000 after acquiring an additional 107,279 shares in the last quarter. Finally, Tandem Investment Advisors Inc. lifted its holdings in ResMed by 3.0% during the second quarter. Tandem Investment Advisors Inc. now owns 501,391 shares of the medical equipment provider’s stock worth $95,976,000 after acquiring an additional 14,590 shares in the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Price Performance

Shares of NYSE:RMD opened at $243.60 on Friday. The stock has a market cap of $35.76 billion, a PE ratio of 32.26, a PEG ratio of 1.73 and a beta of 0.69. The company’s fifty day moving average is $241.96 and its 200 day moving average is $224.23. ResMed Inc. has a 52 week low of $151.95 and a 52 week high of $260.49. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, beating the consensus estimate of $2.03 by $0.17. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.64 earnings per share. Research analysts anticipate that ResMed Inc. will post 9.28 earnings per share for the current year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Thursday, November 7th. ResMed’s dividend payout ratio is currently 28.08%.

Wall Street Analyst Weigh In

Several research firms have issued reports on RMD. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research note on Friday, October 25th. KeyCorp lifted their target price on ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Baird R W raised ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. Bank of America boosted their price objective on ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Royal Bank of Canada boosted their price objective on ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $225.70.

Insiders Place Their Bets

In other ResMed news, Director Witte Jan De sold 796 shares of ResMed stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total value of $198,052.76. Following the completion of the transaction, the director now directly owns 6,723 shares of the company’s stock, valued at $1,672,749.63. This trade represents a 10.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael J. Farrell sold 14,683 shares of ResMed stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $248.38, for a total transaction of $3,646,963.54. Following the sale, the chief executive officer now owns 464,169 shares of the company’s stock, valued at $115,290,296.22. The trade was a 3.07 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 62,174 shares of company stock worth $14,882,278. Company 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.