Semanteon Capital Management LP Makes New Investment in ResMed Inc. $RMD

Semanteon Capital Management LP purchased a new stake in shares of ResMed Inc. (NYSE:RMD) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 2,048 shares of the medical equipment provider’s stock, valued at approximately $561,000.

Several other large investors have also recently made changes to their positions in RMD. SJS Investment Consulting Inc. boosted its stake in shares of ResMed by 1,433.3% in the 3rd quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 86 shares in the last quarter. WFA of San Diego LLC purchased a new position in ResMed in the 2nd quarter worth $26,000. Westside Investment Management Inc. lifted its stake in ResMed by 100.0% in the third quarter. Westside Investment Management Inc. now owns 132 shares of the medical equipment provider’s stock worth $36,000 after purchasing an additional 66 shares during the last quarter. GoalVest Advisory LLC purchased a new stake in ResMed during the third quarter valued at about $37,000. Finally, IMA Advisory Services Inc. grew its stake in shares of ResMed by 52.7% during the third quarter. IMA Advisory Services Inc. now owns 139 shares of the medical equipment provider’s stock valued at $38,000 after buying an additional 48 shares during the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

ResMed Trading Up 1.1%

NYSE RMD opened at $258.99 on Friday. The stock has a market cap of $37.73 billion, a P/E ratio of 25.62, a price-to-earnings-growth ratio of 1.72 and a beta of 0.87. ResMed Inc. has a fifty-two week low of $199.92 and a fifty-two week high of $293.81. The stock has a 50 day simple moving average of $253.16 and a two-hundred day simple moving average of $261.99. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.32 and a current ratio of 3.06.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, January 29th. The medical equipment provider reported $2.81 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the company earned $2.43 earnings per share. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

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

Wall Street Analyst Weigh In

RMD has been the subject of a number of recent research reports. Mizuho lowered their target price on ResMed from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, October 31st. Morgan Stanley set a $305.00 price target on ResMed in a research note on Friday, October 31st. Robert W. Baird set a $281.00 price objective on ResMed in a research note on Friday, January 30th. Piper Sandler raised their target price on shares of ResMed from $270.00 to $275.00 and gave the stock a “neutral” rating in a report on Friday, January 30th. Finally, Stifel Nicolaus upped their price target on shares of ResMed from $260.00 to $265.00 and gave the company a “hold” rating in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $299.27.

Insider Transactions at ResMed

In other news, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $248.46, for a total value of $1,240,063.86. Following the completion of the transaction, the chief executive officer owned 466,223 shares in the company, valued at $115,837,766.58. This trade represents a 1.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $251.31, for a total value of $502,620.00. Following the sale, the director owned 64,773 shares in the company, valued at $16,278,102.63. This represents a 3.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 18,137 shares of company stock valued at $4,658,832. 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.