3,951 Shares in ResMed Inc. $RMD Purchased by Integrated Quantitative Investments LLC

Integrated Quantitative Investments LLC purchased a new stake in ResMed Inc. (NYSE:RMD) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 3,951 shares of the medical equipment provider’s stock, valued at approximately $1,019,000.

Several other large investors also recently bought and sold shares of the company. Citizens Financial Group Inc. RI lifted its position in shares of ResMed by 24.0% in the second quarter. Citizens Financial Group Inc. RI now owns 1,125 shares of the medical equipment provider’s stock valued at $290,000 after acquiring an additional 218 shares in the last quarter. Ontario Teachers Pension Plan Board acquired a new position in ResMed in the 2nd quarter valued at $389,000. Intech Investment Management LLC lifted its holdings in ResMed by 45.0% in the 2nd quarter. Intech Investment Management LLC now owns 22,216 shares of the medical equipment provider’s stock valued at $5,732,000 after purchasing an additional 6,891 shares in the last quarter. Creative Planning boosted its stake in ResMed by 5.9% during the 2nd quarter. Creative Planning now owns 31,705 shares of the medical equipment provider’s stock worth $8,180,000 after purchasing an additional 1,765 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in ResMed by 75.0% during the 2nd quarter. SG Americas Securities LLC now owns 8,343 shares of the medical equipment provider’s stock worth $2,152,000 after purchasing an additional 3,576 shares during the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

ResMed Price Performance

RMD stock opened at $244.74 on Friday. ResMed Inc. has a 52-week low of $199.92 and a 52-week high of $293.81. The company has a quick ratio of 2.53, a current ratio of 3.44 and a debt-to-equity ratio of 0.11. The stock has a market cap of $35.72 billion, a price-to-earnings ratio of 25.73, a price-to-earnings-growth ratio of 1.75 and a beta of 0.87. The business has a fifty day moving average of $266.27 and a two-hundred day moving average of $262.98.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Friday, October 31st. The medical equipment provider reported $2.55 EPS for the quarter, beating the consensus estimate of $2.49 by $0.06. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.33 billion. ResMed had a return on equity of 25.62% and a net margin of 27.22%.The company’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.20 EPS. As a group, research analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, November 13th will be given a dividend of $0.60 per share. The ex-dividend date is Thursday, November 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.0%. ResMed’s dividend payout ratio (DPR) is currently 24.56%.

Analyst Ratings Changes

RMD has been the subject of a number of recent research reports. KeyCorp increased their target price on shares of ResMed from $298.00 to $299.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. Robert W. Baird decreased their target price on shares of ResMed from $320.00 to $300.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Stifel Nicolaus boosted their target price on ResMed from $240.00 to $270.00 and gave the stock a “hold” rating in a report on Friday, August 1st. Piper Sandler increased their price target on ResMed from $248.00 to $270.00 and gave the company a “neutral” rating in a report on Friday, August 1st. Finally, UBS Group raised ResMed to a “strong-buy” rating in a research note on Tuesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, ResMed presently has a consensus rating of “Moderate Buy” and an average target price of $297.45.

Insiders Place Their Bets

In other news, CEO Michael J. Farrell sold 8,011 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $249.75, for a total value of $2,000,747.25. Following the transaction, the chief executive officer directly owned 467,866 shares in the company, valued at approximately $116,849,533.50. This represents a 1.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $252.05, for a total transaction of $504,100.00. Following the completion of the sale, the director owned 66,110 shares of the company’s stock, valued at $16,663,025.50. This trade represents a 2.94% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 21,182 shares of company stock worth $5,658,783. Insiders own 0.65% 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.