Regatta Capital Group LLC Takes $2.51 Million Position in ResMed Inc. $RMD

Regatta Capital Group LLC purchased a new position in ResMed Inc. (NYSE:RMD) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 10,412 shares of the medical equipment provider’s stock, valued at approximately $2,508,000.

Several other hedge funds and other institutional investors have also modified their holdings of RMD. Norges Bank acquired a new position in ResMed during the second quarter worth $306,452,000. First Trust Advisors LP increased its holdings in shares of ResMed by 285.1% during the 3rd quarter. First Trust Advisors LP now owns 445,198 shares of the medical equipment provider’s stock valued at $121,864,000 after acquiring an additional 329,588 shares during the last quarter. Marshall Wace LLP raised its stake in shares of ResMed by 2,373.1% in the 3rd quarter. Marshall Wace LLP now owns 310,987 shares of the medical equipment provider’s stock valued at $85,126,000 after acquiring an additional 298,412 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of ResMed by 37.2% in the 4th quarter. Nordea Investment Management AB now owns 1,084,996 shares of the medical equipment provider’s stock valued at $262,027,000 after acquiring an additional 294,124 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in ResMed by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 19,040,440 shares of the medical equipment provider’s stock worth $5,211,940,000 after purchasing an additional 293,515 shares during the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RMD has been the subject of a number of recent analyst reports. Royal Bank Of Canada increased 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 note on Friday, January 30th. KeyCorp reaffirmed an “overweight” rating and set a $302.00 price objective on shares of ResMed in a report on Friday, January 30th. Piper Sandler raised their target price on shares of ResMed from $270.00 to $275.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Finally, Weiss Ratings downgraded shares of ResMed from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, March 19th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $299.27.

ResMed Stock Performance

Shares of NYSE RMD opened at $222.22 on Friday. ResMed Inc. has a 12 month low of $199.92 and a 12 month high of $293.81. The company has a market cap of $32.37 billion, a P/E ratio of 21.98, a P/E/G ratio of 1.50 and a beta of 0.88. The business’s 50 day moving average is $250.50 and its two-hundred day moving average is $255.56. The company has a quick ratio of 2.32, a current ratio of 3.06 and a debt-to-equity ratio of 0.06.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Friday, January 30th. The medical equipment provider reported $2.81 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the prior year, the business earned $2.43 earnings per share. ResMed’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, equities analysts expect that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Thursday, February 12th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.1%. The ex-dividend date was Thursday, February 12th. ResMed’s dividend payout ratio (DPR) is currently 23.74%.

Insider Activity

In related news, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $248.46, for a total value of $1,240,063.86. Following the completion of the sale, the chief executive officer owned 466,223 shares in the company, valued at approximately $115,837,766.58. This trade represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $260.22, for a total value of $520,440.00. Following the completion of the transaction, the director directly owned 62,773 shares of the company’s stock, valued at approximately $16,334,790.06. This trade represents a 3.09% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 21,073 shares of company stock worth $5,405,198. 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.