GSA Capital Partners LLP Makes New Investment in ResMed Inc. $RMD

GSA Capital Partners LLP acquired a new position in shares of ResMed Inc. (NYSE:RMD) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,232 shares of the medical equipment provider’s stock, valued at approximately $885,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Entropy Technologies LP grew its holdings in shares of ResMed by 188.7% in the 2nd quarter. Entropy Technologies LP now owns 16,384 shares of the medical equipment provider’s stock valued at $4,227,000 after acquiring an additional 10,708 shares in the last quarter. Quantbot Technologies LP grew its stake in shares of ResMed by 244.8% in the second quarter. Quantbot Technologies LP now owns 36,355 shares of the medical equipment provider’s stock valued at $9,380,000 after buying an additional 25,810 shares in the last quarter. Nordea Investment Management AB increased its holdings in ResMed by 3.5% during the third quarter. Nordea Investment Management AB now owns 790,872 shares of the medical equipment provider’s stock worth $217,387,000 after buying an additional 26,629 shares during the last quarter. Allianz Asset Management GmbH increased its stake in shares of ResMed by 44.8% during the 3rd quarter. Allianz Asset Management GmbH now owns 357,421 shares of the medical equipment provider’s stock worth $97,837,000 after purchasing an additional 110,647 shares during the last quarter. Finally, Neuberger Berman Group LLC lifted its stake in ResMed by 71.2% in the 2nd quarter. Neuberger Berman Group LLC now owns 53,916 shares of the medical equipment provider’s stock valued at $13,910,000 after purchasing an additional 22,431 shares during the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Price Performance

ResMed stock opened at $258.99 on Friday. The firm has a market cap of $37.73 billion, a PE ratio of 25.62, a price-to-earnings-growth ratio of 1.70 and a beta of 0.87. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.06 and a quick ratio of 2.32. The stock’s fifty day moving average price is $253.16 and its two-hundred day moving average price is $262.14. ResMed Inc. has a one year low of $199.92 and a one year high of $293.81.

ResMed (NYSE:RMD) last released its earnings results on Thursday, January 29th. The medical equipment provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.13. ResMed had a return on equity of 25.20% and a net margin of 27.53%.The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period in the prior year, the firm posted $2.43 EPS. ResMed’s quarterly revenue was up 11.0% on a year-over-year basis. As a group, research analysts expect that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Thursday, February 12th will be given a $0.60 dividend. The ex-dividend date is Thursday, February 12th. This represents a $2.40 annualized dividend and a dividend yield of 0.9%. ResMed’s payout ratio is presently 23.74%.

Insider Transactions at ResMed

In related news, Director Witte Jan De sold 2,055 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $255.00, for a total transaction of $524,025.00. Following the sale, the director owned 4,261 shares in the company, valued at approximately $1,086,555. This trade represents a 32.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $273.78, for a total transaction of $1,366,435.98. Following the completion of the transaction, the chief executive officer directly owned 466,223 shares in the company, valued at $127,642,532.94. This trade represents a 1.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 18,137 shares of company stock valued at $4,658,832. Company insiders own 0.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on RMD shares. Weiss Ratings upgraded ResMed from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. Royal Bank Of Canada raised their price target on ResMed from $311.00 to $314.00 and gave the company an “outperform” rating in a report on Friday, January 30th. Robert W. Baird set a $281.00 price objective on shares of ResMed in a research report on Friday, January 30th. KeyCorp restated an “overweight” rating and set a $302.00 target price on shares of ResMed in a research note on Friday, January 30th. Finally, Morgan Stanley set a $305.00 target price on shares of ResMed in a report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, ResMed has an average rating of “Moderate Buy” and an average price target of $299.27.

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.