Quantinno Capital Management LP Purchases 80,061 Shares of ResMed Inc. $RMD

Quantinno Capital Management LP boosted its position in ResMed Inc. (NYSE:RMD) by 66.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 200,036 shares of the medical equipment provider’s stock after acquiring an additional 80,061 shares during the period. Quantinno Capital Management LP’s holdings in ResMed were worth $44,904,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Terra Nova Asset Management LLC lifted its position in ResMed by 0.6% during the 3rd quarter. Terra Nova Asset Management LLC now owns 7,805 shares of the medical equipment provider’s stock valued at $2,136,000 after purchasing an additional 46 shares during the period. Kera Capital Partners Inc. grew its position in shares of ResMed by 6.6% during the 4th quarter. Kera Capital Partners Inc. now owns 841 shares of the medical equipment provider’s stock worth $217,000 after buying an additional 52 shares during the period. Andina Capital Management LLC grew its position in shares of ResMed by 2.9% during the 4th quarter. Andina Capital Management LLC now owns 1,988 shares of the medical equipment provider’s stock worth $479,000 after buying an additional 56 shares during the period. New Wave Wealth Advisors LLC raised its stake in shares of ResMed by 3.0% during the fourth quarter. New Wave Wealth Advisors LLC now owns 1,956 shares of the medical equipment provider’s stock worth $471,000 after buying an additional 57 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC raised its stake in shares of ResMed by 6.2% during the first quarter. Turtle Creek Wealth Advisors LLC now owns 994 shares of the medical equipment provider’s stock worth $223,000 after buying an additional 58 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RMD. UBS Group reaffirmed a “buy” rating and issued a $300.00 price objective on shares of ResMed in a research note on Tuesday, July 21st. JPMorgan Chase & Co. initiated coverage on shares of ResMed in a research report on Wednesday, April 15th. They set an “overweight” rating for the company. Evercore set a $255.00 price target on ResMed and gave the company an “outperform” rating in a research note on Monday, April 13th. Jefferies Financial Group reduced their price target on ResMed from $240.00 to $225.00 and set a “hold” rating on the stock in a research report on Friday, July 10th. Finally, Wells Fargo & Company decreased their price objective on ResMed from $227.00 to $225.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $246.25.

ResMed Stock Performance

Shares of NYSE:RMD opened at $214.36 on Thursday. The firm’s 50 day simple moving average is $198.80 and its 200 day simple moving average is $223.98. ResMed Inc. has a fifty-two week low of $180.26 and a fifty-two week high of $293.81. The company has a market capitalization of $31.09 billion, a price-to-earnings ratio of 20.67, a P/E/G ratio of 1.27 and a beta of 0.78. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.01 and a quick ratio of 2.33.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.07. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the previous year, the company earned $2.37 earnings per share. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, sell-side analysts forecast that ResMed Inc. will post 11.14 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $218.55, for a total transaction of $1,090,783.05. Following the transaction, the chief executive officer directly owned 466,223 shares of the company’s stock, valued at $101,893,036.65. This trade represents a 1.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 14,973 shares of company stock valued at $3,096,067 in the last quarter. Company insiders own 0.65% of the company’s stock.

ResMed Company 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.