Quantitative Investment Management LLC Invests $2.21 Million in ResMed Inc. $RMD

Quantitative Investment Management LLC acquired a new position in shares of ResMed Inc. (NYSE:RMD) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 11,360 shares of the medical equipment provider’s stock, valued at approximately $2,213,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. International Assets Investment Management LLC bought a new stake in shares of ResMed in the fourth quarter worth $25,000. Bell Investment Advisors Inc acquired a new stake in shares of ResMed during the 2nd quarter worth approximately $26,000. Imprint Wealth LLC bought a new stake in shares of ResMed in the 3rd quarter valued at $26,000. WFA of San Diego LLC acquired a new position in shares of ResMed during the 2nd quarter valued at $26,000. Finally, Sunbelt Securities Inc. acquired a new position in shares of ResMed during the 3rd quarter valued at $31,000. Institutional investors own 54.98% of the company’s stock.

Insider Activity at ResMed

In other news, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $205.69, for a total value of $1,026,598.79. Following the completion of the sale, the chief executive officer owned 466,256 shares of the company’s stock, valued at $95,904,196.64. This trade represents a 1.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 8,000 shares of the business’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $225.00, for a total value of $1,800,000.00. Following the transaction, the director owned 52,773 shares in the company, valued at approximately $11,873,925. This trade represents a 13.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 22,973 shares of company stock valued at $4,885,436. 0.65% of the stock is owned by insiders.

ResMed Trading Down 0.1%

RMD stock opened at $240.03 on Tuesday. ResMed Inc. has a twelve month low of $180.26 and a twelve month high of $284.87. The stock has a market capitalization of $34.62 billion, a price-to-earnings ratio of 23.01, a price-to-earnings-growth ratio of 1.51 and a beta of 0.76. The company has a quick ratio of 2.42, a current ratio of 3.10 and a debt-to-equity ratio of 0.06. The firm’s fifty day simple moving average is $212.84 and its two-hundred day simple moving average is $218.62.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, August 6th. The medical equipment provider reported $2.95 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $0.06. ResMed had a net margin of 26.94% and a return on equity of 25.58%. The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the previous year, the company earned $2.55 EPS. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, analysts anticipate that ResMed Inc. will post 12.03 earnings per share for the current year.

ResMed Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, August 20th will be given a dividend of $0.66 per share. The ex-dividend date of this dividend is Thursday, August 20th. This is a positive change from ResMed’s previous quarterly dividend of $0.60. This represents a $2.64 dividend on an annualized basis and a yield of 1.1%. ResMed’s dividend payout ratio is currently 25.31%.

Analyst Ratings Changes

RMD has been the topic of several recent analyst reports. UBS Group reiterated a “buy” rating and issued a $300.00 price target on shares of ResMed in a report on Tuesday, July 21st. Mizuho dropped their target price on shares of ResMed from $235.00 to $220.00 and set an “outperform” rating for the company in a research report on Wednesday, July 15th. Weiss Ratings raised shares of ResMed from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. KeyCorp boosted their price target on shares of ResMed from $255.00 to $267.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Robert W. Baird set a $213.00 price target on shares of ResMed in a research note on Friday, August 7th. Seven research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, ResMed currently has an average rating of “Hold” and a consensus target price of $240.31.

ResMed Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.