ResMed Inc. (NYSE:RMD) Stock Holdings Increased by GAMMA Investing LLC

GAMMA Investing LLC grew its holdings in shares of ResMed Inc. (NYSE:RMD) by 21.8% in the fourth quarter, HoldingsChannel reports. The fund 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 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Marshall Wace LLP acquired a new stake in ResMed in the second quarter worth about $77,285,000. Geode Capital Management LLC raised its position in shares of ResMed by 10.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock worth $939,114,000 after buying an additional 380,383 shares in the last quarter. Greenvale Capital LLP raised its position in shares of ResMed by 61.1% during the 2nd quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock worth $138,780,000 after buying an additional 275,000 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of ResMed by 726.3% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,801 shares of the medical equipment provider’s stock worth $69,281,000 after acquiring an additional 249,454 shares during the period. Finally, Los Angeles Capital Management LLC boosted its holdings 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 acquiring an additional 241,195 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

ResMed Stock Performance

ResMed stock opened at $231.67 on Friday. ResMed Inc. has a fifty-two week low of $164.12 and a fifty-two week high of $260.49. The firm’s 50 day simple moving average is $240.72 and its 200-day simple moving average is $229.83. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. The company has a market cap of $34.01 billion, a P/E ratio of 30.68, a price-to-earnings-growth ratio of 1.73 and a beta of 0.70.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.17. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations 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 previous year, the company posted $1.64 EPS. As a group, equities research analysts predict that ResMed Inc. will post 9.34 EPS for the current year.

ResMed Dividend Announcement

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

Insiders Place Their Bets

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $248.74, for a total value of $497,480.00. Following the transaction, the director now owns 83,204 shares in the company, valued at approximately $20,696,162.96. This represents a 2.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $198,052.76. Following the sale, 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 45,725 shares of company stock worth $10,779,048. 0.71% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Royal Bank of Canada upped their price objective on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Baird R W raised ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. Wolfe Research reissued an “underperform” rating and issued a $180.00 price target on shares of ResMed in a report on Wednesday, September 18th. Finally, KeyCorp lifted their price objective on shares of ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $227.91.

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.