ResMed Inc. $RMD Shares Acquired by Landscape Capital Management L.L.C.

Landscape Capital Management L.L.C. grew its stake in ResMed Inc. (NYSE:RMD) by 123.2% in the third quarter, Holdings Channel.com reports. The firm owned 49,017 shares of the medical equipment provider’s stock after acquiring an additional 27,060 shares during the quarter. ResMed makes up approximately 0.9% of Landscape Capital Management L.L.C.’s investment portfolio, making the stock its 14th biggest position. Landscape Capital Management L.L.C.’s holdings in ResMed were worth $13,417,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in RMD. SJS Investment Consulting Inc. grew its holdings in ResMed by 1,433.3% in the 3rd quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 86 shares in the last quarter. WFA of San Diego LLC purchased a new position in shares of ResMed during the 2nd quarter worth $26,000. Westside Investment Management Inc. boosted its position in shares of ResMed by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 132 shares of the medical equipment provider’s stock valued at $36,000 after acquiring an additional 66 shares during the last quarter. GoalVest Advisory LLC acquired a new position in shares of ResMed during the 3rd quarter valued at about $37,000. Finally, IMA Advisory Services Inc. grew its holdings in shares of ResMed by 52.7% in the third quarter. IMA Advisory Services Inc. now owns 139 shares of the medical equipment provider’s stock valued at $38,000 after purchasing an additional 48 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Insider Activity

In related news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $260.22, for a total transaction of $520,440.00. Following the sale, the director directly owned 62,773 shares of the company’s stock, valued at $16,334,790.06. This represents a 3.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $251.03, for a total transaction of $1,252,890.73. Following the sale, the chief executive officer owned 466,223 shares in the company, valued at approximately $117,035,959.69. This trade represents a 1.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 21,073 shares of company stock worth $5,405,198 in the last three months. Corporate insiders own 0.65% of the company’s stock.

ResMed Trading Up 0.4%

ResMed stock traded up $1.03 during trading on Friday, hitting $233.44. The company had a trading volume of 154,313 shares, compared to its average volume of 1,080,223. The stock has a market cap of $34.01 billion, a price-to-earnings ratio of 23.19, a price-to-earnings-growth ratio of 1.59 and a beta of 0.88. The company has a current ratio of 3.06, a quick ratio of 2.32 and a debt-to-equity ratio of 0.06. ResMed Inc. has a 1-year low of $199.92 and a 1-year high of $293.81. The company’s 50 day simple moving average is $255.32 and its 200-day simple moving average is $258.93.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, January 29th. The medical equipment provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.68 by $0.13. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. ResMed had a return on equity of 25.20% and a net margin of 27.53%.The company’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the business posted $2.43 earnings per share. As a group, analysts expect that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Thursday, February 12th will be paid a dividend of $0.60 per share. The ex-dividend date is Thursday, February 12th. This represents a $2.40 dividend on an annualized basis and a yield of 1.0%. ResMed’s dividend payout ratio is 23.74%.

Analysts Set New Price Targets

RMD has been the topic of a number of analyst reports. Piper Sandler lifted their target price on shares of ResMed from $270.00 to $275.00 and gave the stock a “neutral” rating in a research note on Friday, January 30th. Weiss Ratings raised shares of ResMed from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. KeyCorp reaffirmed an “overweight” rating and set a $302.00 price target on shares of ResMed in a research report on Friday, January 30th. Citigroup upped their price objective on ResMed from $330.00 to $345.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Finally, Robert W. Baird set a $281.00 target price on ResMed in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $299.27.

ResMed Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.