Quantinno Capital Management LP Boosts Stake in ResMed Inc. (NYSE:RMD)

Quantinno Capital Management LP increased its position in ResMed Inc. (NYSE:RMD) by 56.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 38,580 shares of the medical equipment provider’s stock after purchasing an additional 13,942 shares during the period. Quantinno Capital Management LP’s holdings in ResMed were worth $8,823,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Colonial Trust Co SC increased its position in ResMed by 6,250.0% in the 4th quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider’s stock valued at $29,000 after acquiring an additional 125 shares during the period. Optiver Holding B.V. acquired a new position in ResMed in the 4th quarter valued at about $33,000. Itau Unibanco Holding S.A. increased its position in ResMed by 1,000.0% in the 4th quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider’s stock valued at $38,000 after acquiring an additional 150 shares during the period. OFI Invest Asset Management acquired a new position in ResMed in the 4th quarter valued at about $39,000. Finally, Coppell Advisory Solutions LLC increased its position in ResMed by 1,750.0% during the 4th quarter. Coppell Advisory Solutions LLC now owns 185 shares of the medical equipment provider’s stock worth $42,000 after purchasing an additional 175 shares during the period. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $242.25, for a total transaction of $484,500.00. Following the transaction, the director now owns 71,218 shares of the company’s stock, valued at $17,252,560.50. This represents a 2.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $243.23, for a total value of $1,948,029.07. Following the transaction, the chief executive officer now directly owns 455,503 shares in the company, valued at approximately $110,791,994.69. This represents a 1.73% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,949 shares of company stock valued at $11,335,320. 0.71% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on RMD shares. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a research report on Friday, May 2nd. Piper Sandler dropped their target price on ResMed from $260.00 to $248.00 and set a “neutral” rating on the stock in a research report on Thursday, April 24th. Stifel Nicolaus dropped their target price on ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a research report on Wednesday, March 5th. UBS Group dropped their target price on ResMed from $290.00 to $285.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Finally, Morgan Stanley started coverage on ResMed in a research report on Wednesday, March 19th. They set an “overweight” rating and a $280.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $258.83.

ResMed Price Performance

RMD stock opened at $248.60 on Friday. ResMed Inc. has a 1 year low of $179.42 and a 1 year high of $263.05. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. The stock’s 50 day moving average price is $224.81 and its 200 day moving average price is $234.18. The firm has a market cap of $36.45 billion, a P/E ratio of 29.35, a PEG ratio of 1.53 and a beta of 0.78.

ResMed (NYSE:RMD) last posted its earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.01. ResMed had a return on equity of 26.17% and a net margin of 25.34%. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the prior year, the company earned $2.13 EPS. ResMed’s revenue was up 7.9% on a year-over-year basis. On average, sell-side analysts expect that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 8th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Thursday, May 8th. ResMed’s payout ratio is currently 23.79%.

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.