Jupiter Topco LLC Takes Position in ResMed Inc. $RMD

Jupiter Topco LLC purchased a new stake in ResMed Inc. (NYSE:RMD - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 15,143 shares of the medical equipment provider's stock, valued at approximately $2,950,000.

A number of other hedge funds have also bought and sold shares of RMD. International Assets Investment Management LLC bought a new position in shares of ResMed during the fourth quarter worth approximately $25,000. Bell Investment Advisors Inc bought a new stake in shares of ResMed in the second quarter valued at approximately $26,000. Imprint Wealth LLC bought a new stake in shares of ResMed in the third quarter valued at approximately $26,000. WFA of San Diego LLC acquired a new stake in ResMed during the second quarter worth approximately $26,000. Finally, Sunbelt Securities Inc. acquired a new stake in ResMed during the third quarter worth approximately $31,000. 54.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

RMD has been the topic of a number of recent research reports. KeyCorp raised their price objective on ResMed from $255.00 to $267.00 and gave the stock an "overweight" rating in a research note on Monday. Royal Bank Of Canada raised their price target on ResMed from $234.00 to $244.00 and gave the stock a "sector perform" rating in a research report on Friday, August 7th. Robert W. Baird set a $213.00 price target on ResMed in a research report on Friday, August 7th. Weiss Ratings raised ResMed from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 11th. Finally, Citigroup reaffirmed a "neutral" rating and set a $235.00 price objective (down from $270.00) on shares of ResMed in a research report on Sunday, July 12th. Six investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $240.31.

ResMed Stock Down 0.1%

Shares of RMD opened at $231.03 on Thursday. ResMed Inc. has a one year low of $180.26 and a one year high of $284.87. The company has a market cap of $33.33 billion, a P/E ratio of 22.15, a P/E/G ratio of 1.45 and a beta of 0.77. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.10 and a quick ratio of 2.42. The firm has a 50 day simple moving average of $214.34 and a two-hundred day simple moving average of $218.32.

ResMed (NYSE:RMD - Get Free Report) last issued its earnings results on Thursday, August 6th. The medical equipment provider reported $2.95 earnings per share for the quarter, beating analysts' consensus estimates of $2.89 by $0.06. ResMed had a return on equity of 25.58% and a net margin of 26.94%.The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the business posted $2.55 EPS. The company's revenue was up 8.6% compared to the same quarter last year. Research analysts forecast that ResMed Inc. will post 12.03 EPS for the current fiscal year.

ResMed Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, August 20th will be paid a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 1.1%. This is a boost from ResMed's previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Thursday, August 20th. ResMed's payout ratio is 25.31%.

Insider Activity

In other ResMed news, Director Peter C. Farrell sold 8,000 shares of ResMed stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $225.00, for a total value of $1,800,000.00. Following the transaction, the director owned 52,773 shares in the company, valued at $11,873,925. The trade was a 13.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael J. Farrell sold 4,991 shares of the business's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $205.69, for a total value of $1,026,598.79. Following the transaction, the chief executive officer directly owned 466,256 shares of the company's stock, valued at approximately $95,904,196.64. The trade was a 1.06% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 22,973 shares of company stock worth $4,885,436 over the last ninety days. 0.65% of the stock is currently owned by insiders.

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.

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