Regatta Capital Group LLC Invests $2.51 Million in ResMed Inc. $RMD

Regatta Capital Group LLC bought a new stake in shares of ResMed Inc. (NYSE:RMD) during the 4th quarter, HoldingsChannel.com reports. The firm bought 10,412 shares of the medical equipment provider’s stock, valued at approximately $2,508,000.

Several other hedge funds have also recently added to or reduced their stakes in RMD. Norges Bank bought a new position in ResMed during the second quarter worth about $306,452,000. First Trust Advisors LP grew its stake in shares of ResMed by 285.1% in the 3rd quarter. First Trust Advisors LP now owns 445,198 shares of the medical equipment provider’s stock valued at $121,864,000 after purchasing an additional 329,588 shares during the period. Marshall Wace LLP grew its stake in shares of ResMed by 2,373.1% in the 3rd quarter. Marshall Wace LLP now owns 310,987 shares of the medical equipment provider’s stock valued at $85,126,000 after purchasing an additional 298,412 shares during the period. Nordea Investment Management AB raised its holdings in shares of ResMed by 37.2% in the 4th quarter. Nordea Investment Management AB now owns 1,084,996 shares of the medical equipment provider’s stock worth $262,027,000 after buying an additional 294,124 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of ResMed by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 19,040,440 shares of the medical equipment provider’s stock worth $5,211,940,000 after buying an additional 293,515 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Weiss Ratings lowered ResMed from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, March 19th. Wall Street Zen cut ResMed from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Piper Sandler upped their target price on shares of ResMed from $270.00 to $275.00 and gave the stock a “neutral” rating in a report on Friday, January 30th. 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 report on Monday, February 2nd. Finally, Royal Bank Of Canada lifted their price target on shares of ResMed from $311.00 to $314.00 and gave the company an “outperform” rating in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $299.27.

Insider Transactions at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of the firm’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 value of $520,440.00. Following the completion of the sale, the director owned 62,773 shares of the company’s stock, valued at $16,334,790.06. This trade represents a 3.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael J. Farrell sold 4,991 shares of the business’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 transaction of $1,240,063.86. Following the completion of the transaction, the chief executive officer owned 466,223 shares of the company’s stock, valued at $115,837,766.58. This trade represents a 1.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 21,073 shares of company stock valued at $5,405,198. Insiders own 0.65% of the company’s stock.

ResMed Price Performance

Shares of RMD stock opened at $222.22 on Friday. ResMed Inc. has a 52 week low of $199.92 and a 52 week high of $293.81. The stock has a market capitalization of $32.37 billion, a PE ratio of 21.98, a PEG ratio of 1.50 and a beta of 0.88. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.32 and a current ratio of 3.06. The stock’s fifty day moving average is $250.50 and its 200-day moving average is $255.56.

ResMed (NYSE:RMD) last released its quarterly earnings results on Friday, January 30th. The medical equipment provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.13. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.40 billion. ResMed had a return on equity of 25.20% and a net margin of 27.53%.The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.43 earnings per share. Equities research analysts expect that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Thursday, February 12th were paid a $0.60 dividend. The ex-dividend date of this dividend was Thursday, February 12th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.1%. ResMed’s payout ratio is currently 23.74%.

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.