ResMed Inc. $RMD Shares Acquired by Mirabella Financial Services LLP

Key Points

• Mirabella Financial Services increased its stake in ResMed by 203.0% to 8,302 shares (worth $2.27M), while several other institutions (including Allianz and Nordea) also boosted holdings, bringing institutional ownership to about 54.98%.
• Sell‑side analysts have an average rating of "Moderate Buy" with an average price target of $299.27, and multiple recent upgrades/target increases (e.g., Citigroup to $345) have been issued.
• ResMed beat quarterly expectations with EPS of $2.81 (vs. $2.68) and revenue up 11% to $1.42B, announced a $0.60 quarterly dividend (1.1% yield), and insiders have sold ~21,073 shares over the past 90 days.

Mirabella Financial Services LLP increased its position in shares of ResMed Inc. (NYSE:RMD - Free Report) by 203.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,302 shares of the medical equipment provider's stock after acquiring an additional 5,562 shares during the quarter. Mirabella Financial Services LLP's holdings in ResMed were worth $2,268,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Landscape Capital Management L.L.C. raised its stake in ResMed by 123.2% during the third quarter. Landscape Capital Management L.L.C. now owns 49,017 shares of the medical equipment provider's stock worth $13,417,000 after purchasing an additional 27,060 shares during the period. Entropy Technologies LP grew its stake in shares of ResMed by 188.7% during the 2nd quarter. Entropy Technologies LP now owns 16,384 shares of the medical equipment provider's stock valued at $4,227,000 after buying an additional 10,708 shares during the period. Quantbot Technologies LP increased its holdings in shares of ResMed by 244.8% during the 2nd quarter. Quantbot Technologies LP now owns 36,355 shares of the medical equipment provider's stock worth $9,380,000 after buying an additional 25,810 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in shares of ResMed by 44.8% during the 3rd quarter. Allianz Asset Management GmbH now owns 357,421 shares of the medical equipment provider's stock worth $97,837,000 after buying an additional 110,647 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of ResMed by 3.5% in the 3rd quarter. Nordea Investment Management AB now owns 790,872 shares of the medical equipment provider's stock worth $217,387,000 after purchasing an additional 26,629 shares during the period. 54.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on RMD shares. Citigroup increased their price objective on shares of ResMed from $330.00 to $345.00 and gave the stock a "buy" rating in a research report on Monday, February 2nd. Weiss Ratings raised shares of ResMed from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, February 9th. Stifel Nicolaus boosted their price objective on ResMed from $260.00 to $265.00 and gave the stock a "hold" rating in a research note on Friday, January 30th. Royal Bank Of Canada upped their target price on ResMed from $311.00 to $314.00 and gave the stock an "outperform" rating in a research report on Friday, January 30th. Finally, KeyCorp reiterated an "overweight" rating and issued a $302.00 target price on shares of ResMed in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $299.27.

Insider Buying and Selling at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $260.22, for a total transaction of $520,440.00. Following the sale, the director directly owned 62,773 shares of the company's stock, valued at approximately $16,334,790.06. This represents a 3.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael J. Farrell sold 4,991 shares of the firm's stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $248.46, for a total transaction of $1,240,063.86. Following the completion of the transaction, the chief executive officer owned 466,223 shares in the company, valued at approximately $115,837,766.58. The trade was a 1.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 21,073 shares of company stock worth $5,405,198 over the last 90 days. 0.65% of the stock is currently owned by company insiders.

ResMed Stock Down 2.3%

NYSE:RMD opened at $228.15 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.32 and a current ratio of 3.06. The company has a market capitalization of $33.24 billion, a price-to-earnings ratio of 22.57, a price-to-earnings-growth ratio of 1.55 and a beta of 0.88. ResMed Inc. has a one year low of $199.92 and a one year high of $293.81. The stock has a 50-day simple moving average of $254.04 and a 200 day simple moving average of $257.39.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings data on Thursday, January 29th. The medical equipment provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.13. ResMed had a return on equity of 25.20% and a net margin of 27.53%.The firm had revenue of $1.42 billion for the quarter, compared to analysts' expectations of $1.40 billion. During the same quarter in the prior year, the firm posted $2.43 earnings per share. ResMed's revenue for the quarter was up 11.0% compared to the same quarter last year. Sell-side analysts predict that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Thursday, February 12th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, February 12th. ResMed's dividend payout ratio is currently 23.74%.

ResMed 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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