8,720 Shares in ResMed Inc. $RMD Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd purchased a new stake in shares of ResMed Inc. (NYSE:RMD) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,720 shares of the medical equipment provider’s stock, valued at approximately $2,387,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RMD. Vanguard Group Inc. raised its stake in ResMed by 1.4% during the second quarter. Vanguard Group Inc. now owns 18,746,925 shares of the medical equipment provider’s stock valued at $4,836,707,000 after buying an additional 253,223 shares during the last quarter. State Street Corp grew its position in shares of ResMed by 1.0% during the second quarter. State Street Corp now owns 6,615,852 shares of the medical equipment provider’s stock valued at $1,706,890,000 after purchasing an additional 64,448 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of ResMed by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 4,215,145 shares of the medical equipment provider’s stock valued at $1,083,409,000 after acquiring an additional 98,717 shares during the last quarter. Norges Bank purchased a new stake in shares of ResMed in the second quarter valued at $306,452,000. Finally, Charles Schwab Investment Management Inc. increased its stake in ResMed by 2.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,021,001 shares of the medical equipment provider’s stock worth $263,418,000 after purchasing an additional 22,873 shares during the period. Institutional investors own 54.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RMD. Royal Bank Of Canada raised their target price on shares of ResMed from $300.00 to $303.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ResMed in a research note on Monday, December 29th. KeyCorp lifted their price target 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. Wells Fargo & Company assumed coverage on shares of ResMed in a research note on Monday, October 13th. They set an “equal weight” rating and a $280.00 target price on the stock. Finally, Mizuho dropped their price target on shares of ResMed from $310.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $296.09.

ResMed Stock Performance

Shares of RMD traded up $1.54 during mid-day trading on Wednesday, reaching $257.04. 55,917 shares of the company’s stock traded hands, compared to its average volume of 839,452. The stock has a market capitalization of $37.51 billion, a P/E ratio of 26.30, a price-to-earnings-growth ratio of 1.72 and a beta of 0.88. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.13 and a current ratio of 2.89. The business’s 50-day moving average price is $250.37 and its 200-day moving average price is $263.27. ResMed Inc. has a 12 month low of $199.92 and a 12 month high of $293.81.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.06. ResMed had a return on equity of 25.45% and a net margin of 27.35%.The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the previous year, the company earned $2.20 EPS. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. Equities analysts predict that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, November 13th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Thursday, November 13th. ResMed’s dividend payout ratio (DPR) is 24.56%.

Insider Buying and Selling

In related news, Director Witte Jan De sold 2,055 shares of the stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $255.00, for a total transaction of $524,025.00. Following the completion of the transaction, the director directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $248.46, for a total value of $1,240,063.86. Following the completion of the sale, the chief executive officer directly owned 466,223 shares of the company’s stock, valued at approximately $115,837,766.58. The trade was a 1.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 21,594 shares of company stock worth $5,403,495 in the last quarter. 0.65% of the stock is owned by corporate insiders.

About ResMed

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.