GAMMA Investing LLC Has $253,000 Stock Holdings in ResMed Inc. (NYSE:RMD)

GAMMA Investing LLC increased its holdings in ResMed Inc. (NYSE:RMD) by 56.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,324 shares of the medical equipment provider’s stock after purchasing an additional 476 shares during the period. GAMMA Investing LLC’s holdings in ResMed were worth $253,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in RMD. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of ResMed during the fourth quarter worth approximately $27,000. Hall Laurie J Trustee bought a new position in ResMed in the first quarter valued at approximately $32,000. BOK Financial Private Wealth Inc. bought a new position in ResMed in the first quarter valued at approximately $35,000. Riverview Trust Co bought a new position in ResMed in the first quarter valued at approximately $42,000. Finally, MV Capital Management Inc. boosted its stake in ResMed by 39.0% in the fourth quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock valued at $37,000 after acquiring an additional 60 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Stock Up 1.9 %

RMD traded up $4.18 during trading on Tuesday, hitting $219.86. The company had a trading volume of 434,869 shares, compared to its average volume of 1,063,218. The company has a market capitalization of $32.30 billion, a PE ratio of 33.77, a PEG ratio of 1.93 and a beta of 0.66. ResMed Inc. has a one year low of $132.24 and a one year high of $225.68. The firm’s 50-day moving average price is $203.94 and its 200 day moving average price is $196.95. The company has a quick ratio of 1.97, a current ratio of 3.04 and a debt-to-equity ratio of 0.22.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $2.08 EPS for the quarter, beating the consensus estimate of $2.03 by $0.05. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.22 billion. ResMed had a net margin of 21.79% and a return on equity of 25.58%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.60 EPS. As a group, equities analysts expect that ResMed Inc. will post 8.79 earnings per share for the current year.

ResMed Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Thursday, August 15th will be given a $0.53 dividend. This is a boost from ResMed’s previous quarterly dividend of $0.48. This represents a $2.12 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Thursday, August 15th. ResMed’s payout ratio is currently 29.49%.

Insider Activity at ResMed

In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of ResMed stock in a transaction on Friday, June 7th. The shares were sold at an average price of $211.66, for a total value of $3,107,803.78. Following the sale, the chief executive officer now directly owns 440,799 shares in the company, valued at approximately $93,299,516.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of ResMed stock in a transaction on Friday, June 7th. The shares were sold at an average price of $211.66, for a total value of $3,107,803.78. Following the sale, the chief executive officer now directly owns 440,799 shares in the company, valued at approximately $93,299,516.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brett Sandercock sold 1,000 shares of ResMed stock in a transaction on Monday, July 8th. The shares were sold at an average price of $194.35, for a total transaction of $194,350.00. Following the completion of the sale, the chief financial officer now owns 90,056 shares in the company, valued at $17,502,383.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,726 shares of company stock valued at $6,423,927. 1.21% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Royal Bank of Canada raised their price objective on shares of ResMed from $204.00 to $206.00 and gave the company a “sector perform” rating in a research note on Friday. Oppenheimer cut shares of ResMed from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. Citigroup cut shares of ResMed from a “buy” rating to a “neutral” rating in a research note on Monday, June 24th. Needham & Company LLC reissued a “buy” rating and set a $236.00 price target on shares of ResMed in a research report on Friday. Finally, KeyCorp lifted their price target on shares of ResMed from $238.00 to $251.00 and gave the stock an “overweight” rating in a research report on Friday. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, ResMed currently has a consensus rating of “Moderate Buy” and an average target price of $204.70.

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.