FNY Investment Advisers LLC Invests $437,000 in ResMed Inc. (NYSE:RMD)

FNY Investment Advisers LLC bought a new position in shares of ResMed Inc. (NYSE:RMD) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,000 shares of the medical equipment provider’s stock, valued at approximately $437,000.

Several other hedge funds also recently made changes to their positions in the business. Geode Capital Management LLC increased its holdings in shares of ResMed by 3.3% during the first quarter. Geode Capital Management LLC now owns 3,231,885 shares of the medical equipment provider’s stock worth $706,314,000 after purchasing an additional 103,438 shares during the period. JPMorgan Chase & Co. raised its stake in ResMed by 3.5% during the fourth quarter. JPMorgan Chase & Co. now owns 1,326,430 shares of the medical equipment provider’s stock worth $276,071,000 after buying an additional 45,381 shares during the last quarter. Bank of New York Mellon Corp increased its stake in ResMed by 1.4% in the first quarter. Bank of New York Mellon Corp now owns 1,260,009 shares of the medical equipment provider’s stock valued at $275,929,000 after purchasing an additional 17,283 shares in the last quarter. Norges Bank acquired a new position in shares of ResMed during the fourth quarter valued at about $244,477,000. Finally, Morgan Stanley boosted its holdings in ResMed by 10.3% during the fourth quarter. Morgan Stanley now owns 1,015,261 shares of the medical equipment provider’s stock worth $211,307,000 after purchasing an additional 95,143 shares during the last quarter. 63.79% of the stock is owned by institutional investors.

Insider Transactions at ResMed

In other news, insider Kaushik Ghoshal sold 500 shares of the stock in a transaction on Thursday, July 13th. The shares were sold at an average price of $220.00, for a total value of $110,000.00. Following the transaction, the insider now owns 11,787 shares of the company’s stock, valued at approximately $2,593,140. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Kaushik Ghoshal sold 500 shares of the company’s stock in a transaction on Thursday, July 13th. The shares were sold at an average price of $220.00, for a total value of $110,000.00. Following the completion of the sale, the insider now owns 11,787 shares of the company’s stock, valued at approximately $2,593,140. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael J. Farrell sold 5,675 shares of the stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $183.20, for a total transaction of $1,039,660.00. Following the sale, the chief executive officer now directly owns 436,930 shares of the company’s stock, valued at approximately $80,045,576. The disclosure for this sale can be found here. Insiders have sold 14,900 shares of company stock valued at $3,021,246 in the last quarter. Insiders own 1.39% of the company’s stock.

ResMed Stock Performance

Shares of NYSE RMD traded down $2.25 during midday trading on Friday, hitting $145.39. The company’s stock had a trading volume of 2,391,300 shares, compared to its average volume of 1,689,993. The stock has a fifty day moving average price of $185.13 and a 200 day moving average price of $207.70. ResMed Inc. has a one year low of $145.00 and a one year high of $243.52. The company has a current ratio of 3.12, a quick ratio of 1.81 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $21.38 billion, a price-to-earnings ratio of 23.83, a P/E/G ratio of 2.27 and a beta of 0.52.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, August 3rd. The medical equipment provider reported $1.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.67 by ($0.07). ResMed had a net margin of 21.25% and a return on equity of 24.94%. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period last year, the firm earned $1.49 EPS. The business’s revenue for the quarter was up 22.7% on a year-over-year basis. On average, research analysts forecast that ResMed Inc. will post 7.08 EPS for the current fiscal year.

ResMed Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 21st. Stockholders of record on Thursday, August 17th will be issued a $0.48 dividend. This is a positive change from ResMed’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.32%. ResMed’s dividend payout ratio is presently 31.48%.

Wall Street Analysts Forecast Growth

RMD has been the topic of several analyst reports. UBS Group cut shares of ResMed from a “buy” rating to a “neutral” rating in a report on Tuesday, September 5th. Needham & Company LLC upgraded shares of ResMed from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. StockNews.com initiated coverage on shares of ResMed in a report on Thursday, August 17th. They set a “hold” rating on the stock. TheStreet cut shares of ResMed from a “b-” rating to a “c+” rating in a research note on Thursday, August 24th. Finally, Royal Bank of Canada dropped their target price on shares of ResMed from $284.00 to $273.00 and set an “outperform” rating on the stock in a research note on Monday, August 14th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $251.14.

ResMed Company 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.