Los Angeles Capital Management LLC Acquires 11,685 Shares of ResMed Inc. (NYSE:RMD)

Los Angeles Capital Management LLC increased its holdings in ResMed Inc. (NYSE:RMD) by 647.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 13,491 shares of the medical equipment provider’s stock after purchasing an additional 11,685 shares during the quarter. Los Angeles Capital Management LLC’s holdings in ResMed were worth $2,321,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of RMD. EverSource Wealth Advisors LLC grew its stake in ResMed by 224.6% in the third quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 128 shares during the last quarter. Planned Solutions Inc. purchased a new stake in ResMed during the fourth quarter valued at approximately $34,000. MV Capital Management Inc. boosted its stake in ResMed by 39.0% in the fourth quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock valued at $37,000 after acquiring an additional 60 shares in the last quarter. Operose Advisors LLC purchased a new position in ResMed in the third quarter worth $32,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in shares of ResMed during the fourth quarter worth $45,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Insider Buying and Selling at ResMed

In other ResMed news, Director Peter C. Farrell sold 10,935 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value of $1,997,387.10. Following the completion of the transaction, the director now owns 157,404 shares of the company’s stock, valued at approximately $28,751,414.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other ResMed news, Director Karen Drexler sold 425 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $214.92, for a total transaction of $91,341.00. Following the completion of the sale, the director now directly owns 8,446 shares of the company’s stock, valued at approximately $1,815,214.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Peter C. Farrell sold 10,935 shares of ResMed stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the completion of the transaction, the director now owns 157,404 shares in the company, valued at $28,751,414.64. The disclosure for this sale can be found here. Insiders have sold a total of 11,641 shares of company stock valued at $2,137,958 over the last quarter. 1.21% of the stock is owned by company insiders.

ResMed Price Performance

NYSE:RMD opened at $216.94 on Tuesday. The stock has a 50 day moving average price of $191.19 and a 200 day moving average price of $175.51. The stock has a market cap of $31.87 billion, a PE ratio of 33.32, a P/E/G ratio of 2.68 and a beta of 0.64. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.97 and a current ratio of 3.04. ResMed Inc. has a one year low of $132.24 and a one year high of $237.26.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.22. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.17 billion. ResMed had a net margin of 20.91% and a return on equity of 24.43%. ResMed’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.68 EPS. Equities research analysts expect that ResMed Inc. will post 7.59 EPS for the current fiscal year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 9th will be issued a $0.48 dividend. The ex-dividend date is Wednesday, May 8th. This represents a $1.92 annualized dividend and a yield of 0.89%. ResMed’s dividend payout ratio (DPR) is presently 29.49%.

Analyst Ratings Changes

RMD has been the topic of several research analyst reports. JPMorgan Chase & Co. upped their target price on ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a research report on Tuesday, January 9th. KeyCorp increased their price objective on shares of ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Mizuho reissued a “buy” rating and set a $215.00 target price on shares of ResMed in a research report on Wednesday, March 27th. Royal Bank of Canada lifted their price objective on shares of ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a research note on Friday, April 26th. Finally, Needham & Company LLC upped their target price on ResMed from $224.00 to $236.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $202.80.

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.