Y Intercept Hong Kong Ltd Purchases Shares of 8,720 ResMed Inc. $RMD

Y Intercept Hong Kong Ltd bought a new stake in ResMed Inc. (NYSE:RMD) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,720 shares of the medical equipment provider’s stock, valued at approximately $2,387,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in ResMed in the 2nd quarter valued at about $306,452,000. Vanguard Group Inc. lifted its stake in shares of ResMed by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 18,746,925 shares of the medical equipment provider’s stock valued at $4,836,707,000 after acquiring an additional 253,223 shares during the last quarter. Ilex Capital Partners UK LLP purchased a new stake in ResMed during the 2nd quarter valued at $39,306,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of ResMed during the second quarter valued at approximately $34,443,000. Finally, Swedbank AB raised its stake in ResMed by 25.4% in the third quarter. Swedbank AB now owns 542,711 shares of the medical equipment provider’s stock worth $148,556,000 after buying an additional 109,760 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Wall Street Analysts Forecast Growth

RMD has been the topic of several analyst reports. Mizuho lowered their price objective on ResMed from $310.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday, October 31st. UBS Group reaffirmed a “buy” rating and set a $345.00 price target on shares of ResMed in a report on Friday, December 12th. Robert W. Baird reaffirmed a “neutral” rating and issued a $275.00 target price (down previously from $300.00) on shares of ResMed in a research report on Tuesday, December 16th. Stifel Nicolaus dropped their price target on ResMed from $270.00 to $260.00 and set a “hold” rating on the stock in a research note on Thursday, December 18th. Finally, KeyCorp increased their price objective on shares of ResMed from $298.00 to $299.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, ResMed has a consensus rating of “Moderate Buy” and a consensus target price of $296.09.

ResMed Price Performance

Shares of ResMed stock traded up $1.54 during mid-day trading on Wednesday, reaching $257.04. 55,917 shares of the stock traded hands, compared to its average volume of 839,452. The business has a 50-day moving average of $250.37 and a 200 day moving average of $263.27. The company has a quick ratio of 2.13, a current ratio of 2.89 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $37.51 billion, a PE ratio of 26.30, a PEG ratio of 1.72 and a beta of 0.88. ResMed Inc. has a fifty-two week low of $199.92 and a fifty-two week high of $293.81.

ResMed (NYSE:RMD) last announced its earnings results on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.06. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.33 billion. ResMed had a return on equity of 25.45% and a net margin of 27.35%.The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.20 earnings per share. On average, analysts predict that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, November 13th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Thursday, November 13th. ResMed’s dividend payout ratio is presently 24.56%.

Insider Transactions at ResMed

In other ResMed news, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $248.46, for a total value of $1,240,063.86. Following the completion of the transaction, the chief executive officer owned 466,223 shares in the company, valued at $115,837,766.58. This represents a 1.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $248.83, for a total transaction of $497,660.00. Following the transaction, the director owned 66,773 shares in the company, valued at $16,615,125.59. This trade represents a 2.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 21,594 shares of company stock worth $5,403,495. 0.65% of the stock is currently owned by company insiders.

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.