Brevan Howard Capital Management LP Makes New Investment in ResMed Inc. (NYSE:RMD)

Brevan Howard Capital Management LP bought a new position in shares of ResMed Inc. (NYSE:RMD - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 6,726 shares of the medical equipment provider's stock, valued at approximately $1,538,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Invesco Ltd. raised its holdings in shares of ResMed by 32.2% during the 4th quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider's stock valued at $531,706,000 after buying an additional 566,046 shares in the last quarter. Norges Bank bought a new position in shares of ResMed during the fourth quarter valued at about $118,605,000. Captrust Financial Advisors increased its holdings in shares of ResMed by 813.4% in the fourth quarter. Captrust Financial Advisors now owns 443,340 shares of the medical equipment provider's stock worth $101,387,000 after buying an additional 394,803 shares during the period. AQR Capital Management LLC increased its holdings in shares of ResMed by 133.6% in the fourth quarter. AQR Capital Management LLC now owns 625,054 shares of the medical equipment provider's stock worth $142,944,000 after buying an additional 357,466 shares during the period. Finally, BLI Banque de Luxembourg Investments bought a new stake in shares of ResMed in the 4th quarter valued at about $74,793,000. 54.98% of the stock is currently owned by institutional investors.

ResMed Stock Up 0.8 %

Shares of NYSE:RMD traded up $2.03 during midday trading on Friday, reaching $245.12. The company's stock had a trading volume of 693,838 shares, compared to its average volume of 1,005,149. ResMed Inc. has a 12-month low of $179.42 and a 12-month high of $263.05. The firm has a market capitalization of $35.94 billion, a P/E ratio of 28.94, a PEG ratio of 1.53 and a beta of 0.78. The firm has a 50 day moving average of $223.37 and a 200-day moving average of $234.09. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share for the quarter, beating analysts' consensus estimates of $2.36 by $0.01. ResMed had a net margin of 25.34% and a return on equity of 26.17%. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the firm earned $2.13 earnings per share. The business's revenue for the quarter was up 7.9% on a year-over-year basis. On average, research analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.86%. ResMed's dividend payout ratio is currently 23.79%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on RMD shares. Piper Sandler decreased their price target on ResMed from $260.00 to $248.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Citigroup raised shares of ResMed from a "neutral" rating to a "buy" rating in a research report on Wednesday, March 5th. UBS Group decreased their price objective on shares of ResMed from $290.00 to $285.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. StockNews.com raised shares of ResMed from a "hold" rating to a "buy" rating in a research note on Friday, May 2nd. Finally, Stifel Nicolaus reduced their price target on ResMed from $250.00 to $240.00 and set a "hold" rating on the stock in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, ResMed presently has an average rating of "Moderate Buy" and a consensus price target of $258.83.

Insider Transactions at ResMed

In related news, CEO Michael J. Farrell sold 8,009 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $243.23, for a total value of $1,948,029.07. Following the completion of the transaction, the chief executive officer now directly owns 455,503 shares in the company, valued at $110,791,994.69. The trade was a 1.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $242.25, for a total value of $484,500.00. Following the completion of the transaction, the director now directly owns 71,218 shares in the company, valued at $17,252,560.50. This trade represents a 2.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,949 shares of company stock valued at $11,335,320. Insiders own 0.71% of the company's stock.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.