Graham Capital Management L.P. Purchases 13,801 Shares of ResMed Inc. $RMD

Graham Capital Management L.P. boosted its holdings in shares of ResMed Inc. (NYSE:RMD) by 179.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,477 shares of the medical equipment provider’s stock after purchasing an additional 13,801 shares during the period. Graham Capital Management L.P.’s holdings in ResMed were worth $5,173,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new position in ResMed during the fourth quarter worth about $25,000. ORG Partners LLC lifted its stake in ResMed by 181.6% during the fourth quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock worth $26,000 after purchasing an additional 69 shares during the period. Imprint Wealth LLC bought a new position in ResMed during the third quarter worth about $26,000. WFA of San Diego LLC bought a new position in ResMed during the second quarter worth about $26,000. Finally, Sunbelt Securities Inc. bought a new position in ResMed during the third quarter worth about $31,000. Institutional investors own 54.98% of the company’s stock.

ResMed Stock Performance

NYSE:RMD opened at $194.13 on Wednesday. ResMed Inc. has a 1 year low of $180.26 and a 1 year high of $293.81. The firm has a 50 day moving average of $209.09 and a 200-day moving average of $234.41. The company has a current ratio of 3.01, a quick ratio of 2.33 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $28.16 billion, a P/E ratio of 18.72, a price-to-earnings-growth ratio of 1.23 and a beta of 0.80.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.07. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the previous year, the company posted $2.37 earnings per share. ResMed’s quarterly revenue was up 10.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that ResMed Inc. will post 11.13 EPS for the current fiscal year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th will be paid a $0.60 dividend. The ex-dividend date is Thursday, May 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.2%. ResMed’s payout ratio is 23.14%.

Insider Buying and Selling

In other news, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $193.96, for a total value of $968,054.36. Following the completion of the transaction, the chief executive officer owned 466,256 shares in the company, valued at approximately $90,435,013.76. The trade was a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total transaction of $450,000.00. The SEC filing for this sale provides additional information. Insiders sold 16,973 shares of company stock valued at $3,580,754 in the last quarter. 0.65% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Weiss Ratings cut shares of ResMed from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 22nd. Evercore set a $255.00 price target on shares of ResMed and gave the stock an “outperform” rating in a research note on Monday, April 13th. Robert W. Baird set a $225.00 price target on shares of ResMed in a research note on Friday, May 1st. JPMorgan Chase & Co. assumed coverage on shares of ResMed in a research note on Wednesday, April 15th. They set an “overweight” rating for the company. Finally, Wall Street Zen cut shares of ResMed from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $279.82.

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.