Quantinno Capital Management LP Buys 13,942 Shares of ResMed Inc. (NYSE:RMD)

Quantinno Capital Management LP lifted its position in ResMed Inc. (NYSE:RMD - Free Report) by 56.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,580 shares of the medical equipment provider's stock after purchasing an additional 13,942 shares during the period. Quantinno Capital Management LP's holdings in ResMed were worth $8,823,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RMD. Wedmont Private Capital boosted its stake in ResMed by 2.6% during the fourth quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider's stock worth $475,000 after buying an additional 52 shares during the period. Miracle Mile Advisors LLC increased its position in ResMed by 9.2% in the 4th quarter. Miracle Mile Advisors LLC now owns 917 shares of the medical equipment provider's stock valued at $210,000 after acquiring an additional 77 shares during the period. Signal Advisors Wealth LLC raised its stake in ResMed by 6.1% during the 4th quarter. Signal Advisors Wealth LLC now owns 1,611 shares of the medical equipment provider's stock valued at $368,000 after acquiring an additional 92 shares during the last quarter. Park Avenue Securities LLC lifted its position in ResMed by 101.1% during the 4th quarter. Park Avenue Securities LLC now owns 4,431 shares of the medical equipment provider's stock worth $1,013,000 after acquiring an additional 2,228 shares during the period. Finally, Occidental Asset Management LLC purchased a new position in shares of ResMed in the 4th quarter valued at approximately $332,000. 54.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RMD. JPMorgan Chase & Co. increased their target price on shares of ResMed from $286.00 to $290.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Needham & Company LLC reiterated a "hold" rating on shares of ResMed in a research note on Friday, January 31st. KeyCorp set a $274.00 price target on ResMed in a research note on Thursday, April 24th. Stifel Nicolaus cut their price objective on shares of ResMed from $250.00 to $240.00 and set a "hold" rating on the stock in a report on Wednesday, March 5th. Finally, Royal Bank of Canada boosted their target price on shares of ResMed from $247.00 to $255.00 and gave the company a "sector perform" rating in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $258.83.

ResMed Stock Performance

RMD stock traded down $1.44 during mid-day trading on Wednesday, reaching $246.71. The company had a trading volume of 190,792 shares, compared to its average volume of 1,018,312. The stock's 50-day simple moving average is $226.57 and its two-hundred day simple moving average is $234.27. 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 market capitalization of $36.17 billion, a P/E ratio of 29.12, a P/E/G ratio of 1.53 and a beta of 0.78. ResMed Inc. has a one year low of $179.42 and a one year high of $263.05.

ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings results 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. ResMed had a return on equity of 26.17% and a net margin of 25.34%. The company had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.28 billion. During the same quarter in the prior year, the company earned $2.13 earnings per share. The firm's revenue was up 7.9% on a year-over-year basis. Research analysts anticipate that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 8th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Thursday, May 8th. ResMed's payout ratio is 23.79%.

Insider Buying and Selling

In other ResMed news, insider Kaushik Ghoshal sold 9,113 shares of ResMed stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the completion of the sale, the insider now owns 9,725 shares of the company's stock, valued at $2,289,265. This trade represents a 48.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $227.71, for a total value of $455,420.00. Following the sale, the director now directly owns 75,218 shares of the company's stock, valued at approximately $17,127,890.78. The trade was a 2.59% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,949 shares of company stock valued at $11,335,320. Corporate insiders own 0.71% of the company's stock.

About ResMed

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.