Dynamic Technology Lab Private Ltd Purchases New Shares in ResMed Inc. $RMD

Dynamic Technology Lab Private Ltd purchased a new position in ResMed Inc. (NYSE:RMD) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 878 shares of the medical equipment provider’s stock, valued at approximately $227,000.

A number of other hedge funds have also recently modified their holdings of RMD. Zions Bancorporation National Association UT purchased a new stake in ResMed in the first quarter valued at approximately $45,000. Groupe la Francaise acquired a new position in ResMed in the first quarter valued at $45,000. Harbour Investments Inc. lifted its stake in ResMed by 264.2% in the second quarter. Harbour Investments Inc. now owns 244 shares of the medical equipment provider’s stock valued at $63,000 after buying an additional 177 shares during the last quarter. Quarry LP increased its stake in ResMed by 141.1% in the first quarter. Quarry LP now owns 311 shares of the medical equipment provider’s stock valued at $70,000 after purchasing an additional 182 shares during the period. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of ResMed during the second quarter worth $83,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Analyst Ratings Changes

RMD has been the topic of several research analyst reports. KeyCorp boosted their target price on shares of ResMed from $298.00 to $299.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. Wall Street Zen lowered shares of ResMed from a “buy” rating to a “hold” rating in a report on Sunday, August 10th. Morgan Stanley set a $305.00 price target on shares of ResMed in a report on Friday, October 31st. Robert W. Baird cut their price objective on shares of ResMed from $320.00 to $300.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. Finally, Royal Bank Of Canada raised their target price on shares of ResMed from $300.00 to $303.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $297.45.

ResMed Trading Down 0.2%

NYSE RMD opened at $255.23 on Thursday. The company has a market cap of $37.25 billion, a P/E ratio of 26.84, a P/E/G ratio of 1.75 and a beta of 0.87. ResMed Inc. has a 12 month low of $199.92 and a 12 month high of $293.81. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.44 and a quick ratio of 2.53. The company has a 50-day moving average of $262.31 and a 200-day moving average of $263.43.

ResMed (NYSE:RMD) last released its earnings results on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.06. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the previous year, the firm earned $2.20 earnings per share. ResMed’s revenue was up 9.1% compared to the same quarter last year. As a group, equities analysts predict that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, November 13th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Thursday, November 13th. ResMed’s dividend payout ratio is presently 24.56%.

Insider Transactions at ResMed

In related news, Director Witte Jan De sold 2,055 shares of ResMed stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $255.00, for a total value of $524,025.00. Following the transaction, the director owned 4,261 shares in the company, valued at approximately $1,086,555. This trade represents a 32.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Michael J. Rider sold 100 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $274.36, for a total value of $27,436.00. Following the completion of the transaction, the general counsel owned 11,327 shares in the company, valued at approximately $3,107,675.72. This trade represents a 0.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 20,662 shares of company stock valued at $5,443,526. Corporate insiders own 0.65% of the company’s stock.

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.