WINTON GROUP Ltd Makes New Investment in ResMed Inc. $RMD

WINTON GROUP Ltd bought a new stake in shares of ResMed Inc. (NYSE:RMD) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 7,900 shares of the medical equipment provider’s stock, valued at approximately $1,540,000.

Other hedge funds also recently modified their holdings of the company. California State Teachers Retirement System boosted its position in shares of ResMed by 19,648.1% in the second quarter. California State Teachers Retirement System now owns 43,963,369 shares of the medical equipment provider’s stock worth $8,567,581,000 after buying an additional 43,740,748 shares during the period. BlackRock Inc. acquired a new position in ResMed during the second quarter valued at $2,400,375,000. State Street Corp lifted its stake in ResMed by 1.2% in the 4th quarter. State Street Corp now owns 6,625,408 shares of the medical equipment provider’s stock worth $1,595,862,000 after acquiring an additional 76,244 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in ResMed by 0.7% in the 1st quarter. Bank of New York Mellon Corp now owns 4,925,386 shares of the medical equipment provider’s stock worth $1,105,651,000 after acquiring an additional 34,732 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in ResMed by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 4,302,906 shares of the medical equipment provider’s stock worth $1,032,877,000 after acquiring an additional 51,218 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Insider Buying and Selling

In other ResMed news, Director Peter Farrell sold 970 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $234.73, for a total value of $227,688.10. Following the completion of the sale, the director directly owned 51,803 shares of the company’s stock, valued at $12,159,718.19. The trade was a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Farrell sold 4,991 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $222.44, for a total transaction of $1,110,198.04. Following the completion of the sale, the chief executive officer directly owned 466,256 shares of the company’s stock, valued at $103,713,984.64. This represents a 1.06% 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. Insiders sold 23,943 shares of company stock valued at $5,255,268 over the last quarter. Corporate insiders own 0.65% of the company’s stock.

ResMed Stock Performance

Shares of RMD stock opened at $218.28 on Friday. ResMed Inc. has a fifty-two week low of $180.26 and a fifty-two week high of $284.87. The stock’s 50-day moving average is $217.39 and its two-hundred day moving average is $217.00. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.10 and a quick ratio of 2.42. The firm has a market cap of $31.49 billion, a P/E ratio of 20.93, a PEG ratio of 1.38 and a beta of 0.77.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, August 6th. The medical equipment provider reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.06. The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.46 billion. ResMed had a return on equity of 25.58% and a net margin of 26.94%.The firm’s revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.55 EPS. Analysts predict that ResMed Inc. will post 12.02 earnings per share for the current fiscal year.

ResMed Increases Dividend

The firm also recently disclosed 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 boost from ResMed’s previous quarterly dividend of $0.60. This represents a $2.64 annualized dividend and a yield of 1.2%. ResMed’s payout ratio is 25.31%.

Analysts Set New Price Targets

Several equities analysts have weighed in on RMD shares. Royal Bank Of Canada lifted their target price on ResMed from $234.00 to $244.00 and gave the company a “sector perform” rating in a research note on Friday, August 7th. Jefferies Financial Group decreased their price target on shares of ResMed from $240.00 to $225.00 and set a “hold” rating for the company in a report on Friday, July 10th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of ResMed in a research report on Wednesday, July 1st. Rothschild & Co Redburn initiated coverage on shares of ResMed in a research note on Wednesday, August 19th. They issued a “neutral” rating and a $230.00 price objective on the stock. Finally, Robert W. Baird set a $213.00 target price on shares of ResMed in a research report on Friday, August 7th. Six research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $240.31.

ResMed Profile

ResMed Inc is a medical equipment and software company that develops products and services for the diagnosis and treatment of sleep-disordered breathing and other respiratory conditions. Its offerings include continuous positive airway pressure (CPAP) and other positive airway pressure devices, masks, ventilation systems, oxygen-related solutions, and connected health technologies.

The company also provides cloud-based software and digital health platforms that help clinicians, home medical equipment providers, and patients monitor therapy, manage equipment, and support adherence to treatment.