GAMMA Investing LLC Acquires 231 Shares of ResMed Inc. (NYSE:RMD)

GAMMA Investing LLC increased its holdings in shares of ResMed Inc. (NYSE:RMD) by 7.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,277 shares of the medical equipment provider’s stock after purchasing an additional 231 shares during the period. GAMMA Investing LLC’s holdings in ResMed were worth $734,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RMD. Colonial Trust Co SC boosted its stake in shares of ResMed by 6,250.0% during the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 125 shares in the last quarter. Optiver Holding B.V. bought a new position in shares of ResMed during the fourth quarter valued at approximately $33,000. Itau Unibanco Holding S.A. boosted its stake in shares of ResMed by 1,000.0% during the fourth quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider’s stock valued at $38,000 after purchasing an additional 150 shares in the last quarter. OFI Invest Asset Management bought a new position in shares of ResMed during the fourth quarter valued at approximately $39,000. Finally, Coppell Advisory Solutions LLC boosted its stake in shares of ResMed by 1,750.0% during the fourth quarter. Coppell Advisory Solutions LLC now owns 185 shares of the medical equipment provider’s stock valued at $42,000 after purchasing an additional 175 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors.

ResMed Trading Up 1.2%

NYSE RMD opened at $258.24 on Tuesday. The company has a fifty day simple moving average of $245.93 and a two-hundred day simple moving average of $235.41. The stock has a market cap of $37.87 billion, a P/E ratio of 28.98, a P/E/G ratio of 1.76 and a beta of 0.78. ResMed Inc. has a 12-month low of $186.22 and a 12-month high of $263.05. The company has a current ratio of 3.41, a quick ratio of 2.49 and a debt-to-equity ratio of 0.12.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.01. The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.28 billion. ResMed had a net margin of 26.15% and a return on equity of 25.67%. The business’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the company posted $2.13 earnings per share. On average, analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Thursday, May 8th were issued a $0.53 dividend. The ex-dividend date was Thursday, May 8th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.82%. ResMed’s dividend payout ratio is currently 23.79%.

Insiders Place Their Bets

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $242.25, for a total value of $484,500.00. Following the completion of the transaction, the director owned 71,218 shares of the company’s stock, valued at approximately $17,252,560.50. This trade represents a 2.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $209.85, for a total transaction of $1,680,688.65. Following the completion of the transaction, the chief executive officer directly owned 455,472 shares of the company’s stock, valued at approximately $95,580,799.20. This represents a 1.73% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,068 shares of company stock valued at $7,061,574. Insiders own 0.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Stifel Nicolaus dropped their price objective on shares of ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a research note on Wednesday, March 5th. KeyCorp set a $274.00 price objective on shares of ResMed in a research note on Thursday, April 24th. Royal Bank Of Canada increased their price objective on shares of ResMed from $247.00 to $255.00 and gave the company a “sector perform” rating in a research note on Thursday, April 24th. Morgan Stanley set a $286.00 target price on shares of ResMed and gave the company an “overweight” rating in a research note on Tuesday, May 20th. Finally, Mizuho set a $265.00 target price on shares of ResMed in a research note on Wednesday, April 16th. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $259.33.

ResMed Company 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.