V Square Quantitative Management LLC Increases Stock Position in ResMed Inc. (NYSE:RMD)

V Square Quantitative Management LLC boosted its position in shares of ResMed Inc. (NYSE:RMD) by 11.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,719 shares of the medical equipment provider’s stock after buying an additional 171 shares during the quarter. V Square Quantitative Management LLC’s holdings in ResMed were worth $420,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its position in shares of ResMed by 51.4% during 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 acquiring an additional 1,959,642 shares during the period. Marshall Wace LLP purchased a new position in ResMed during the second quarter worth approximately $77,285,000. Greenvale Capital LLP grew its holdings in ResMed by 61.1% in the second quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock valued at $138,780,000 after purchasing an additional 275,000 shares during the period. Los Angeles Capital Management LLC increased its position in shares of ResMed by 48.3% in the second quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider’s stock valued at $141,694,000 after buying an additional 241,195 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of ResMed during the 2nd quarter worth approximately $42,036,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Price Performance

RMD stock opened at $240.00 on Friday. ResMed Inc. has a 52-week low of $132.24 and a 52-week high of $255.18. 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 stock has a market cap of $35.26 billion, a price-to-earnings ratio of 36.87, a price-to-earnings-growth ratio of 2.17 and a beta of 0.69. The business has a fifty day moving average of $238.78 and a two-hundred day moving average of $216.10.

ResMed (NYSE:RMD) last issued its quarterly earnings data 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 return on equity of 25.00% and a net margin of 21.79%. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period last year, the company earned $1.60 EPS. The company’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, research analysts anticipate that ResMed Inc. will post 9.02 earnings per share for the current 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 paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.88%. This is an increase from ResMed’s previous quarterly dividend of $0.48. The ex-dividend date was Thursday, August 15th. ResMed’s payout ratio is 32.57%.

Insider Transactions at ResMed

In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $214.25, for a total value of $3,145,832.75. Following the sale, the chief executive officer now owns 440,799 shares of the company’s stock, valued at $94,441,185.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Michael J. Farrell sold 14,683 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $214.25, for a total transaction of $3,145,832.75. Following the completion of the transaction, the chief executive officer now directly owns 440,799 shares in the company, valued at $94,441,185.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Justin Leong sold 48,000 shares of the business’s stock in a transaction dated 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 in the company, valued at $4,068,108.87. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 123,874 shares of company stock worth $28,151,142. 1.21% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

RMD has been the topic of several research analyst reports. Oppenheimer lowered shares of ResMed from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. Wolfe Research reiterated an “underperform” rating and set a $180.00 price objective on shares of ResMed in a research note on Wednesday, September 18th. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Baird R W upgraded ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, Robert W. Baird assumed coverage on ResMed in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $280.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $218.18.

ResMed Company 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.