Los Angeles Capital Management LLC Increases Stock Holdings in ResMed Inc. (NYSE:RMD)

Los Angeles Capital Management LLC boosted its stake in shares of ResMed Inc. (NYSE:RMD) by 60.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 668,908 shares of the medical equipment provider’s stock after buying an additional 250,746 shares during the quarter. Los Angeles Capital Management LLC owned 0.46% of ResMed worth $152,973,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Amalgamated Bank raised its holdings in ResMed by 6.1% during the fourth quarter. Amalgamated Bank now owns 31,154 shares of the medical equipment provider’s stock worth $7,125,000 after purchasing an additional 1,799 shares in the last quarter. Vaughan David Investments LLC IL raised its position in ResMed by 1.1% during the fourth quarter. Vaughan David Investments LLC IL now owns 206,222 shares of the medical equipment provider’s stock worth $47,161,000 after acquiring an additional 2,158 shares during the last quarter. BankPlus Trust Department acquired a new position in shares of ResMed in the fourth quarter worth $44,000. IFP Advisors Inc grew its position in shares of ResMed by 37.1% in the fourth quarter. IFP Advisors Inc now owns 373 shares of the medical equipment provider’s stock valued at $85,000 after purchasing an additional 101 shares during the period. Finally, Howard Capital Management Inc. grew its position in shares of ResMed by 5.3% in the fourth quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider’s stock valued at $206,000 after purchasing an additional 45 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Stock Performance

Shares of RMD stock opened at $229.47 on Tuesday. ResMed Inc. has a 12-month low of $170.56 and a 12-month high of $263.05. The firm has a market capitalization of $33.70 billion, a price-to-earnings ratio of 27.09, a price-to-earnings-growth ratio of 1.53 and a beta of 0.70. The business has a 50 day simple moving average of $237.20 and a 200 day simple moving average of $239.52. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. On average, equities research analysts anticipate that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.92%. ResMed’s payout ratio is currently 25.03%.

Analysts Set New Price Targets

RMD has been the subject of a number of research reports. Piper Sandler boosted their price target on ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. UBS Group upgraded ResMed from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research note on Friday, January 31st. Stifel Nicolaus assumed coverage on ResMed in a research note on Friday, December 13th. They issued a “hold” rating and a $250.00 price target on the stock. Finally, KeyCorp upped their price objective on ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $244.73.

Insider Activity

In related news, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the completion of the sale, the chief executive officer now directly owns 455,472 shares in the company, valued at approximately $107,842,105.44. This trade represents a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total value of $484,220.00. Following the sale, the director now owns 77,218 shares of the company’s stock, valued at approximately $18,695,249.98. This represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,147 shares of company stock worth $2,905,745 over the last quarter. Corporate insiders own 0.71% of the company’s stock.

ResMed Company 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.