Los Angeles Capital Management LLC Acquires 11,685 Shares of ResMed Inc. (NYSE:RMD)

Los Angeles Capital Management LLC lifted its holdings in shares of ResMed Inc. (NYSE:RMD) by 647.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,491 shares of the medical equipment provider’s stock after purchasing an additional 11,685 shares during the quarter. Los Angeles Capital Management LLC’s holdings in ResMed were worth $2,321,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RMD. Handelsbanken Fonder AB increased its stake in ResMed by 22.5% during the 4th quarter. Handelsbanken Fonder AB now owns 70,272 shares of the medical equipment provider’s stock worth $12,088,000 after acquiring an additional 12,899 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in ResMed by 13.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,231 shares of the medical equipment provider’s stock valued at $7,781,000 after purchasing an additional 5,517 shares in the last quarter. Vaughan David Investments LLC IL bought a new stake in ResMed during the fourth quarter worth about $29,322,000. ICW Investment Advisors LLC grew its stake in ResMed by 2.3% during the fourth quarter. ICW Investment Advisors LLC now owns 11,303 shares of the medical equipment provider’s stock worth $1,944,000 after buying an additional 249 shares in the last quarter. Finally, International Assets Investment Management LLC increased its holdings in ResMed by 11,960.3% in the 4th quarter. International Assets Investment Management LLC now owns 22,191 shares of the medical equipment provider’s stock valued at $3,817,000 after buying an additional 22,007 shares during the period. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RMD has been the topic of several analyst reports. UBS Group increased their price target on shares of ResMed from $175.00 to $180.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th. JPMorgan Chase & Co. lifted their price target on ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a research note on Tuesday, January 9th. Needham & Company LLC boosted their price target on ResMed from $224.00 to $236.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Mizuho reaffirmed a “buy” rating and issued a $215.00 price objective on shares of ResMed in a research note on Wednesday, March 27th. Finally, KeyCorp boosted their target price on ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $202.80.

Insider Activity at ResMed

In other ResMed news, Director Peter C. Farrell sold 10,935 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the transaction, the director now directly owns 157,404 shares in the company, valued at approximately $28,751,414.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, General Counsel Michael J. Rider sold 200 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $173.25, for a total value of $34,650.00. Following the completion of the sale, the general counsel now directly owns 6,688 shares of the company’s stock, valued at approximately $1,158,696. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Peter C. Farrell sold 10,935 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total value of $1,997,387.10. Following the transaction, the director now directly owns 157,404 shares in the company, valued at $28,751,414.64. The disclosure for this sale can be found here. Insiders have sold a total of 11,641 shares of company stock worth $2,137,958 in the last 90 days. Corporate insiders own 1.21% of the company’s stock.

ResMed Trading Down 0.0 %

NYSE RMD opened at $216.94 on Tuesday. The firm has a market capitalization of $31.87 billion, a PE ratio of 33.32, a price-to-earnings-growth ratio of 2.68 and a beta of 0.64. The business’s 50-day moving average price is $191.19 and its two-hundred day moving average price is $175.51. The company has a current ratio of 3.04, a quick ratio of 1.97 and a debt-to-equity ratio of 0.22. ResMed Inc. has a 12 month low of $132.24 and a 12 month high of $237.26.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, April 25th. The medical equipment provider reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.22. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.17 billion. ResMed had a return on equity of 24.43% and a net margin of 20.91%. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.68 earnings per share. On average, analysts expect that ResMed Inc. will post 7.59 EPS for the current year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 9th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $1.92 dividend on an annualized basis and a yield of 0.89%. ResMed’s payout ratio is currently 29.49%.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.