GAMMA Investing LLC Boosts Stake in ResMed Inc. (NYSE:RMD)

GAMMA Investing LLC lifted its position in shares of ResMed Inc. (NYSE:RMD - Free Report) by 23,982.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 733,556 shares of the medical equipment provider's stock after purchasing an additional 730,510 shares during the period. GAMMA Investing LLC owned 0.50% of ResMed worth $164,207,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Invesco Ltd. raised its position in 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 purchasing an additional 566,046 shares during the last quarter. Norges Bank bought a new position in shares of ResMed during the fourth quarter valued at approximately $118,605,000. Captrust Financial Advisors lifted its stake in 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 acquiring an additional 394,803 shares during the period. AQR Capital Management LLC boosted its holdings in ResMed by 133.6% in the fourth quarter. AQR Capital Management LLC now owns 625,054 shares of the medical equipment provider's stock valued at $142,944,000 after acquiring an additional 357,466 shares in the last quarter. Finally, BLI Banque de Luxembourg Investments purchased a new position in ResMed during the 4th quarter valued at $74,793,000. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $209.85, for a total value of $1,680,688.65. Following the completion of the sale, the chief executive officer now directly owns 455,472 shares in the company, valued at $95,580,799.20. The trade was a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Kaushik Ghoshal sold 9,745 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the transaction, the insider now owns 9,725 shares in the company, valued at approximately $2,327,289.75. The trade was a 50.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,877 shares of company stock worth $9,231,634 in the last ninety days. 0.71% of the stock is owned by company insiders.

ResMed Trading Up 1.2%

Shares of NYSE RMD traded up $3.01 during midday trading on Wednesday, hitting $250.06. The company's stock had a trading volume of 326,329 shares, compared to its average volume of 1,009,067. The firm has a market cap of $36.67 billion, a P/E ratio of 29.52, a price-to-earnings-growth ratio of 1.53 and a beta of 0.78. ResMed Inc. has a 12-month low of $179.42 and a 12-month high of $263.05. The business's 50 day moving average is $231.13 and its two-hundred day moving average is $234.37. 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 released its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.01. The company had revenue of $1.29 billion during the quarter, compared to analysts' expectations of $1.28 billion. ResMed had a net margin of 25.34% and a return on equity of 26.17%. The firm's quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the company earned $2.13 EPS. As a group, equities research analysts expect that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 8th will be paid a $0.53 dividend. The ex-dividend date is Thursday, May 8th. This represents a $2.12 annualized dividend and a yield of 0.85%. ResMed's dividend payout ratio (DPR) is currently 23.79%.

Analyst Ratings Changes

RMD has been the subject of several research reports. KeyCorp set a $274.00 target price on ResMed in a research report on Thursday, April 24th. Royal Bank of Canada boosted their price target on ResMed from $247.00 to $255.00 and gave the company a "sector perform" rating in a research note on Thursday, April 24th. Wall Street Zen cut ResMed from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Mizuho set a $265.00 price objective on shares of ResMed in a research note on Wednesday, April 16th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of ResMed from $286.00 to $290.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $259.33.

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.