Virtu Financial LLC Makes New $1.64 Million Investment in ResMed Inc. (NYSE:RMD)

Virtu Financial LLC purchased a new stake in ResMed Inc. (NYSE:RMD) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,566 shares of the medical equipment provider’s stock, valued at approximately $1,640,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of ResMed by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 17,743,457 shares of the medical equipment provider’s stock worth $3,052,229,000 after purchasing an additional 173,635 shares during the period. Bank of New York Mellon Corp raised its holdings in ResMed by 51.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider’s stock worth $1,105,022,000 after buying an additional 1,959,642 shares during the period. Norges Bank purchased a new stake in ResMed during the fourth quarter valued at about $233,966,000. Los Angeles Capital Management LLC lifted its stake in ResMed by 48.3% during the second quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider’s stock valued at $141,694,000 after buying an additional 241,195 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of ResMed by 15.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 698,905 shares of the medical equipment provider’s stock worth $120,225,000 after buying an additional 95,689 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Stock Performance

Shares of NYSE RMD opened at $250.88 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.59 and a quick ratio of 1.69. ResMed Inc. has a one year low of $132.24 and a one year high of $255.18. The business’s 50-day moving average price is $224.34 and its two-hundred day moving average price is $208.32. The company has a market capitalization of $36.86 billion, a P/E ratio of 38.54, a price-to-earnings-growth ratio of 2.49 and a beta of 0.69.

ResMed (NYSE:RMD) last announced its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $1.22 billion. ResMed had a return on equity of 25.00% and a net margin of 21.79%. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.60 EPS. Analysts anticipate that ResMed Inc. will post 8.92 earnings per share for the current fiscal year.

ResMed Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.53 per share. This is a positive change from ResMed’s previous quarterly dividend of $0.48. The ex-dividend date is Thursday, August 15th. This represents a $2.12 annualized dividend and a dividend yield of 0.85%. ResMed’s dividend payout ratio is 32.57%.

Insider Activity

In related news, insider Kaushik Ghoshal sold 5,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $252.56, for a total value of $1,262,800.00. Following the completion of the sale, the insider now directly owns 21,788 shares in the company, valued at $5,502,777.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other ResMed news, insider Kaushik Ghoshal sold 5,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $252.56, for a total value of $1,262,800.00. Following the completion of the sale, the insider now owns 21,788 shares of the company’s stock, valued at $5,502,777.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Justin Leong sold 48,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $217.07, for a total value of $10,419,360.00. Following the transaction, the insider now directly owns 18,741 shares in the company, valued at approximately $4,068,108.87. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 102,931 shares of company stock worth $22,644,807. 1.21% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Oppenheimer lowered shares of ResMed from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. StockNews.com downgraded shares of ResMed from a “buy” rating to a “hold” rating in a research note on Friday, August 30th. KeyCorp raised their target price on ResMed from $238.00 to $251.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Needham & Company LLC lowered ResMed from a “buy” rating to a “hold” rating and set a $236.00 price target on the stock. in a research report on Wednesday, September 4th. Finally, Citigroup lowered ResMed from a “buy” rating to a “neutral” rating in a research report on Monday, June 24th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, ResMed presently has an average rating of “Hold” and an average price target of $204.70.

About ResMed

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.