Dark Forest Capital Management LP Boosts Holdings in ResMed Inc. (NYSE:RMD)

Dark Forest Capital Management LP increased its holdings in shares of ResMed Inc. (NYSE:RMD - Free Report) by 122.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,285 shares of the medical equipment provider's stock after purchasing an additional 1,257 shares during the period. Dark Forest Capital Management LP's holdings in ResMed were worth $523,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Stifel Financial Corp boosted its position in ResMed by 24.7% during the 4th quarter. Stifel Financial Corp now owns 71,508 shares of the medical equipment provider's stock valued at $16,356,000 after acquiring an additional 14,149 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of ResMed by 147.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,445 shares of the medical equipment provider's stock worth $1,931,000 after purchasing an additional 5,032 shares during the last quarter. MML Investors Services LLC boosted its position in ResMed by 31.9% during the fourth quarter. MML Investors Services LLC now owns 11,468 shares of the medical equipment provider's stock valued at $2,623,000 after purchasing an additional 2,771 shares in the last quarter. MetLife Investment Management LLC grew its stake in ResMed by 1.5% in the fourth quarter. MetLife Investment Management LLC now owns 40,578 shares of the medical equipment provider's stock valued at $9,280,000 after purchasing an additional 593 shares during the last quarter. Finally, Norinchukin Bank The raised its holdings in ResMed by 10.6% in the fourth quarter. Norinchukin Bank The now owns 107,915 shares of the medical equipment provider's stock worth $24,679,000 after purchasing an additional 10,313 shares in the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. The Goldman Sachs Group initiated coverage on shares of ResMed in a research report on Thursday, January 16th. They issued a "buy" rating on the stock. Morgan Stanley started coverage on shares of ResMed in a report on Wednesday, March 19th. They issued an "overweight" rating and a $280.00 price target on the stock. Stifel Nicolaus lowered their price objective on ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a research report on Wednesday, March 5th. KeyCorp set a $274.00 target price on ResMed in a research report on Thursday, April 24th. Finally, Citigroup raised ResMed from a "neutral" rating to a "buy" rating in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $258.83.

Insider Activity

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total value of $484,220.00. Following the completion of the transaction, the director now owns 77,218 shares of the company's stock, valued at approximately $18,695,249.98. The trade was a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael J. Farrell sold 8,009 shares of the company's stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the completion of the transaction, the chief executive officer now owns 455,472 shares of the company's stock, valued at approximately $107,842,105.44. This trade represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,013 shares of company stock valued at $11,298,816 in the last three months. 0.71% of the stock is currently owned by corporate insiders.

ResMed Stock Performance

RMD traded up $0.25 during midday trading on Thursday, hitting $236.84. 234,102 shares of the company were exchanged, compared to its average volume of 1,007,624. The company's 50 day simple moving average is $222.10 and its 200 day simple moving average is $234.00. The firm has a market capitalization of $34.78 billion, a price-to-earnings ratio of 27.96, a price-to-earnings-growth ratio of 1.53 and a beta of 0.75. ResMed Inc. has a 1-year low of $179.42 and a 1-year high of $263.05. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, topping the consensus estimate of $2.36 by $0.01. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. ResMed had a return on equity of 26.17% and a net margin of 25.34%. ResMed's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the company earned $2.13 earnings per share. As a group, sell-side analysts predict that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Thursday, May 8th. ResMed's dividend payout ratio (DPR) is 23.79%.

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.