Qsemble Capital Management LP Purchases New Stake in ResMed Inc. (NYSE:RMD)

Qsemble Capital Management LP purchased a new stake in ResMed Inc. (NYSE:RMD) during the 3rd quarter, HoldingsChannel.com reports. The firm purchased 2,984 shares of the medical equipment provider’s stock, valued at approximately $728,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RMD. OFI Invest Asset Management bought a new position in shares of ResMed in the 2nd quarter valued at about $32,000. Ashton Thomas Securities LLC acquired a new stake in ResMed during the 3rd quarter worth $34,000. Versant Capital Management Inc lifted its stake in shares of ResMed by 196.7% in the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 120 shares during the period. Financial Connections Group Inc. bought a new position in shares of ResMed in the 2nd quarter worth $37,000. Finally, Blue Trust Inc. grew its stake in shares of ResMed by 182.7% during the second quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock worth $42,000 after purchasing an additional 137 shares during the period. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Baird R W upgraded ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. Royal Bank of Canada upped their target price on shares of ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. KeyCorp lifted their price target on shares of ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research note on Friday, October 25th. Finally, Robert W. Baird raised their target price on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $225.70.

ResMed Stock Performance

Shares of RMD opened at $249.99 on Wednesday. The firm has a fifty day simple moving average of $241.80 and a 200 day simple moving average of $225.04. ResMed Inc. has a 12 month low of $151.95 and a 12 month high of $260.49. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $36.70 billion, a price-to-earnings ratio of 33.11, a PEG ratio of 1.82 and a beta of 0.69.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, beating the consensus estimate of $2.03 by $0.17. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.64 earnings per share. Research analysts forecast that ResMed Inc. will post 9.28 EPS for the current fiscal year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a yield of 0.85%. ResMed’s payout ratio is 28.08%.

Insiders Place Their Bets

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $239.90, for a total value of $479,800.00. Following the transaction, the director now directly owns 87,204 shares of the company’s stock, valued at $20,920,239.60. This represents a 2.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Witte Jan De sold 796 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total value of $198,052.76. Following the sale, the director now owns 6,723 shares of the company’s stock, valued at approximately $1,672,749.63. This represents a 10.59 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,334 shares of company stock valued at $16,379,713. 0.71% of the stock is currently owned by corporate insiders.

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.