Semanteon Capital Management LP Invests $561,000 in ResMed Inc. $RMD

Semanteon Capital Management LP purchased a new stake in ResMed Inc. (NYSE:RMD) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,048 shares of the medical equipment provider’s stock, valued at approximately $561,000.

A number of other institutional investors also recently modified their holdings of the business. Tredje AP fonden grew its stake in ResMed by 28.2% in the 3rd quarter. Tredje AP fonden now owns 14,701 shares of the medical equipment provider’s stock valued at $4,024,000 after buying an additional 3,237 shares in the last quarter. Stevens Capital Management LP bought a new position in shares of ResMed in the third quarter worth $205,000. Avestar Capital LLC grew its position in shares of ResMed by 48.4% in the third quarter. Avestar Capital LLC now owns 1,224 shares of the medical equipment provider’s stock valued at $335,000 after purchasing an additional 399 shares in the last quarter. Syon Capital LLC grew its position in shares of ResMed by 42.0% in the third quarter. Syon Capital LLC now owns 2,756 shares of the medical equipment provider’s stock valued at $754,000 after purchasing an additional 815 shares in the last quarter. Finally, Crestwood Advisors Group LLC raised its stake in shares of ResMed by 10.6% during the 3rd quarter. Crestwood Advisors Group LLC now owns 1,131 shares of the medical equipment provider’s stock valued at $310,000 after purchasing an additional 108 shares during the period. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. KeyCorp restated an “overweight” rating and issued a $302.00 target price on shares of ResMed in a research note on Friday, January 30th. Robert W. Baird set a $281.00 price target on shares of ResMed in a report on Friday, January 30th. Wells Fargo & Company raised their price objective on shares of ResMed from $265.00 to $270.00 and gave the company an “equal weight” rating in a research report on Friday, January 30th. Wall Street Zen raised shares of ResMed from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Finally, Citigroup increased their target price on shares of ResMed from $330.00 to $345.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $299.27.

ResMed Stock Performance

Shares of RMD opened at $258.99 on Friday. ResMed Inc. has a 12-month low of $199.92 and a 12-month high of $293.81. The company has a current ratio of 3.06, a quick ratio of 2.32 and a debt-to-equity ratio of 0.06. The company has a market cap of $37.73 billion, a PE ratio of 25.62, a price-to-earnings-growth ratio of 1.72 and a beta of 0.87. The stock has a 50-day moving average price of $253.16 and a 200-day moving average price of $261.99.

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

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Thursday, February 12th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, February 12th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.9%. ResMed’s dividend payout ratio is presently 23.74%.

Insider Activity

In other news, Director Witte Jan De sold 2,055 shares of ResMed stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $255.00, for a total transaction of $524,025.00. Following the completion of the sale, the director directly owned 4,261 shares of the company’s stock, valued at approximately $1,086,555. The trade was a 32.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $251.31, for a total transaction of $502,620.00. Following the completion of the transaction, the director owned 64,773 shares of the company’s stock, valued at $16,278,102.63. This trade represents a 3.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 18,137 shares of company stock worth $4,658,832. 0.65% of the stock is currently owned by corporate insiders.

About ResMed

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.