78,381 Shares in ResMed Inc. $RMD Purchased by Quantbot Technologies LP

Quantbot Technologies LP acquired a new stake in ResMed Inc. (NYSE:RMD) during the second quarter, according to its most recent 13F filing with the SEC. The fund acquired 78,381 shares of the medical equipment provider’s stock, valued at approximately $15,275,000. ResMed accounts for 0.6% of Quantbot Technologies LP’s portfolio, making the stock its 7th largest holding. Quantbot Technologies LP owned 0.05% of ResMed as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RMD. Jones Financial Companies Lllp raised its position in shares of ResMed by 52.6% in the first quarter. Jones Financial Companies Lllp now owns 2,882 shares of the medical equipment provider’s stock valued at $645,000 after purchasing an additional 994 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in ResMed in the 2nd quarter worth approximately $389,000. Brown Advisory Inc. boosted its holdings in ResMed by 17.8% in the 2nd quarter. Brown Advisory Inc. now owns 1,586 shares of the medical equipment provider’s stock worth $409,000 after buying an additional 240 shares during the period. Cresset Asset Management LLC bought a new position in ResMed in the 2nd quarter worth approximately $206,000. Finally, Alliancebernstein L.P. grew its stake in ResMed by 24.2% in the 2nd quarter. Alliancebernstein L.P. now owns 286,078 shares of the medical equipment provider’s stock valued at $73,808,000 after buying an additional 55,790 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Piper Sandler dropped their target price on ResMed from $233.00 to $225.00 and set a “neutral” rating on the stock in a research report on Friday, August 7th. Citigroup reiterated a “neutral” rating and issued a $235.00 price target (down from $270.00) on shares of ResMed in a research report on Sunday, July 12th. The Goldman Sachs Group reiterated a “buy” rating on shares of ResMed in a research note on Wednesday, July 1st. Jefferies Financial Group dropped their price objective on ResMed from $240.00 to $225.00 and set a “hold” rating on the stock in a report on Friday, July 10th. Finally, Mizuho cut their target price on ResMed from $235.00 to $220.00 and set an “outperform” rating for the company in a research note on Wednesday, July 15th. Seven research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, ResMed presently has a consensus rating of “Hold” and an average target price of $239.38.

ResMed Stock Performance

NYSE RMD opened at $231.62 on Friday. The company’s 50 day simple moving average is $207.22 and its two-hundred day simple moving average is $220.07. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.10 and a quick ratio of 2.42. ResMed Inc. has a 1 year low of $180.26 and a 1 year high of $293.81. The stock has a market capitalization of $33.41 billion, a PE ratio of 22.21, a P/E/G ratio of 1.45 and a beta of 0.76.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, August 6th. The medical equipment provider reported $2.95 EPS for the quarter, beating analysts’ consensus estimates of $2.89 by $0.06. ResMed had a net margin of 26.94% and a return on equity of 25.58%. The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the business earned $2.55 EPS. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. Analysts predict that ResMed Inc. will post 12.03 earnings per share for the current fiscal year.

ResMed Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, August 20th will be given a dividend of $0.66 per share. The ex-dividend date is Thursday, August 20th. This is a positive change from ResMed’s previous quarterly dividend of $0.60. This represents a $2.64 annualized dividend and a yield of 1.1%. ResMed’s dividend payout ratio (DPR) is presently 25.31%.

Insider Activity

In other ResMed news, Director Peter C. Farrell sold 8,000 shares of the company’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $225.00, for a total value of $1,800,000.00. Following the transaction, the director directly owned 52,773 shares in the company, valued at $11,873,925. This represents a 13.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $205.69, for a total value of $1,026,598.79. Following the completion of the sale, the chief executive officer directly owned 466,256 shares in the company, valued at approximately $95,904,196.64. The trade was a 1.06% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 22,973 shares of company stock valued at $4,885,436. 0.65% of the stock is owned by company 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.