Entropy Technologies LP Has $8.45 Million Holdings in ResMed Inc. $RMD

Entropy Technologies LP boosted its stake in shares of ResMed Inc. (NYSE:RMD) by 105.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,619 shares of the medical equipment provider’s stock after acquiring an additional 19,298 shares during the period. Entropy Technologies LP’s holdings in ResMed were worth $8,445,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RMD. Imprint Wealth LLC acquired a new stake in shares of ResMed during the 3rd quarter worth $26,000. WFA of San Diego LLC acquired a new position in ResMed in the second quarter valued at about $26,000. International Assets Investment Management LLC bought a new stake in ResMed during the fourth quarter worth about $25,000. ORG Partners LLC lifted its position in ResMed by 181.6% during the fourth quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock worth $26,000 after purchasing an additional 69 shares during the period. Finally, Sunbelt Securities Inc. acquired a new stake in ResMed during the third quarter worth about $31,000. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Trading Up 1.8%

NYSE RMD opened at $195.43 on Friday. The company has a quick ratio of 2.33, a current ratio of 3.01 and a debt-to-equity ratio of 0.06. ResMed Inc. has a twelve month low of $180.26 and a twelve month high of $293.81. The company has a market cap of $28.35 billion, a price-to-earnings ratio of 18.85, a price-to-earnings-growth ratio of 1.20 and a beta of 0.78. The business’s fifty day moving average is $198.70 and its 200 day moving average is $224.98.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.79 by $0.07. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.42 billion. ResMed had a return on equity of 25.35% and a net margin of 27.44%.The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.37 EPS. As a group, sell-side analysts expect that ResMed Inc. will post 11.13 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Thursday, May 14th. ResMed’s dividend payout ratio is currently 23.14%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on RMD shares. KeyCorp dropped their target price on shares of ResMed from $290.00 to $266.00 and set an “overweight” rating for the company in a research report on Monday, June 22nd. Citigroup reiterated a “neutral” rating and set a $235.00 price target (down from $270.00) on shares of ResMed in a research report on Sunday, July 12th. Robert W. Baird set a $225.00 price objective on shares of ResMed in a research note on Friday, May 1st. Royal Bank Of Canada downgraded shares of ResMed from an “outperform” rating to a “sector perform” rating and set a $234.00 price objective for the company. in a research report on Thursday, July 16th. Finally, Evercore set a $255.00 target price on ResMed and gave the stock an “outperform” rating in a research note on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $246.25.

Insider Buying and Selling at ResMed

In other news, CEO Michael J. Farrell sold 4,991 shares of the 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 completion of the sale, the chief executive officer directly owned 466,223 shares in the company, valued at $101,893,036.65. This represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 14,973 shares of company stock worth $3,096,067 in the last ninety days. Corporate insiders own 0.65% of the company’s stock.

About ResMed

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.