ResMed Inc. (NYSE:RMD) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC raised its holdings in ResMed Inc. (NYSE:RMD - Free Report) by 23,982.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 733,556 shares of the medical equipment provider's stock after buying an additional 730,510 shares during the period. GAMMA Investing LLC owned approximately 0.50% of ResMed worth $164,207,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Colonial Trust Co SC boosted its position in ResMed by 6,250.0% in the 4th quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider's stock valued at $29,000 after buying an additional 125 shares during the period. Optiver Holding B.V. purchased a new stake in shares of ResMed during the 4th quarter worth $33,000. Itau Unibanco Holding S.A. lifted its position in shares of ResMed by 1,000.0% during the 4th quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider's stock worth $38,000 after purchasing an additional 150 shares during the last quarter. OFI Invest Asset Management purchased a new stake in shares of ResMed during the 4th quarter worth $39,000. Finally, Coppell Advisory Solutions LLC lifted its position in shares of ResMed by 1,750.0% during the 4th quarter. Coppell Advisory Solutions LLC now owns 185 shares of the medical equipment provider's stock worth $42,000 after purchasing an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company's stock.

Insider Buying and Selling at ResMed

In other news, Director Witte Jan De sold 2,000 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $243.47, for a total transaction of $486,940.00. Following the transaction, the director now directly owns 5,806 shares in the company, valued at $1,413,586.82. The trade was a 25.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kaushik Ghoshal sold 9,745 shares of the business's 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. This trade represents a 50.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,877 shares of company stock worth $9,231,634. 0.71% of the stock is owned by company insiders.

ResMed Stock Performance

RMD traded down $0.24 on Thursday, reaching $249.70. The company had a trading volume of 643,313 shares, compared to its average volume of 1,012,344. ResMed Inc. has a 1 year low of $179.42 and a 1 year high of $263.05. The stock has a market capitalization of $36.61 billion, a PE ratio of 29.48, a P/E/G ratio of 1.53 and a beta of 0.78. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average price of $232.25 and a 200-day moving average price of $234.55.

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

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders 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 dividend on an annualized basis and a yield of 0.85%. ResMed's dividend payout ratio is presently 23.79%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on RMD. UBS Group decreased their price objective on shares of ResMed from $290.00 to $285.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Royal Bank of Canada lifted their price objective on shares of ResMed from $247.00 to $255.00 and gave the stock a "sector perform" rating in a research report on Thursday, April 24th. Piper Sandler decreased their price objective on shares of ResMed from $260.00 to $248.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Stifel Nicolaus decreased their price objective on shares of ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a research report on Wednesday, March 5th. Finally, Morgan Stanley set a $286.00 price objective on shares of ResMed and gave the stock an "overweight" rating in a research report on Tuesday, May 20th. One equities 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 currently has an average rating of "Moderate Buy" and an average target price 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.