Versor Investments LP Raises Holdings in ResMed Inc. (NYSE:RMD)

Versor Investments LP raised its position in ResMed Inc. (NYSE:RMD) by 220.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 7,360 shares of the medical equipment provider’s stock after purchasing an additional 5,060 shares during the period. Versor Investments LP’s holdings in ResMed were worth $1,683,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RMD. True Wealth Design LLC boosted its position in ResMed by 2,200.0% during the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 110 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in ResMed in the third quarter valued at approximately $34,000. BankPlus Trust Department acquired a new stake in shares of ResMed during the 4th quarter worth about $44,000. Rosenberg Matthew Hamilton purchased a new stake in shares of ResMed in the 4th quarter valued at approximately $54,000. Finally, Capital Performance Advisors LLP purchased a new stake in ResMed in the third quarter valued at approximately $60,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on RMD. UBS Group raised ResMed from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. KeyCorp upped their target price on shares of ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, January 31st. The Goldman Sachs Group began coverage on shares of ResMed in a research report on Thursday, January 16th. They set a “buy” rating on the stock. Stifel Nicolaus began coverage on ResMed in a research note on Friday, December 13th. They set a “hold” rating and a $250.00 price objective for the company. Finally, Piper Sandler lifted their target price on shares of ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, ResMed has a consensus rating of “Moderate Buy” and a consensus price target of $244.73.

ResMed Stock Down 0.7 %

RMD stock opened at $234.46 on Thursday. ResMed Inc. has a 12 month low of $170.56 and a 12 month high of $263.05. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The company’s 50 day simple moving average is $237.15 and its 200-day simple moving average is $239.62. The firm has a market capitalization of $34.43 billion, a PE ratio of 27.68, a P/E/G ratio of 1.53 and a beta of 0.70.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. Equities analysts expect that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is 25.03%.

Insider Activity at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total value of $484,220.00. Following the transaction, the director now directly owns 77,218 shares of the company’s stock, valued at $18,695,249.98. This trade represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $236.77, for a total value of $1,896,290.93. Following the sale, the chief executive officer now owns 455,472 shares in the company, valued at approximately $107,842,105.44. The trade was a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,147 shares of company stock worth $2,905,745. 0.71% of the stock is owned by company 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.