GSA Capital Partners LLP Buys Shares of 3,232 ResMed Inc. $RMD

GSA Capital Partners LLP bought a new position in shares of ResMed Inc. (NYSE:RMD) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,232 shares of the medical equipment provider’s stock, valued at approximately $885,000.

Other hedge funds also recently made changes to their positions in the company. Quadcap Wealth Management LLC grew its holdings in shares of ResMed by 2.5% during the 2nd quarter. Quadcap Wealth Management LLC now owns 1,880 shares of the medical equipment provider’s stock valued at $485,000 after purchasing an additional 45 shares during the last quarter. NBT Bank N A NY grew its position in ResMed by 22.9% during the 3rd quarter. NBT Bank N A NY now owns 252 shares of the medical equipment provider’s stock worth $69,000 after acquiring an additional 47 shares during the last quarter. OFI Invest Asset Management raised its position in ResMed by 10.4% in the third quarter. OFI Invest Asset Management now owns 509 shares of the medical equipment provider’s stock valued at $139,000 after purchasing an additional 48 shares during the last quarter. IMA Advisory Services Inc. boosted its stake in shares of ResMed by 52.7% during the third quarter. IMA Advisory Services Inc. now owns 139 shares of the medical equipment provider’s stock valued at $38,000 after purchasing an additional 48 shares in the last quarter. Finally, New Wave Wealth Advisors LLC grew its holdings in shares of ResMed by 2.8% during the third quarter. New Wave Wealth Advisors LLC now owns 1,899 shares of the medical equipment provider’s stock worth $520,000 after purchasing an additional 52 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other ResMed news, Director Witte Jan De sold 2,055 shares of the firm’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $255.00, for a total value of $524,025.00. Following the transaction, the director directly owned 4,261 shares of the company’s stock, valued at approximately $1,086,555. This trade represents a 32.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $273.78, for a total transaction of $1,366,435.98. Following the sale, the chief executive officer directly owned 466,223 shares of the company’s stock, valued at approximately $127,642,532.94. The trade was a 1.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 18,137 shares of company stock worth $4,658,832 over the last quarter. 0.65% of the stock is currently owned by corporate insiders.

ResMed Stock Up 1.1%

Shares of NYSE RMD opened at $258.99 on Friday. The company has a quick ratio of 2.32, a current ratio of 3.06 and a debt-to-equity ratio of 0.06. The firm has a market cap of $37.73 billion, a PE ratio of 25.62, a P/E/G ratio of 1.70 and a beta of 0.87. The company’s fifty day simple moving average is $253.16 and its 200 day simple moving average is $262.14. ResMed Inc. has a 12-month low of $199.92 and a 12-month high of $293.81.

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

ResMed Announces Dividend

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

Wall Street Analysts Forecast Growth

RMD has been the topic of a number of research reports. Stifel Nicolaus boosted their target price on shares of ResMed from $260.00 to $265.00 and gave the stock a “hold” rating in a report on Friday, January 30th. KeyCorp reiterated an “overweight” rating and issued a $302.00 target price on shares of ResMed in a report on Friday, January 30th. Piper Sandler raised their price target on shares of ResMed from $270.00 to $275.00 and gave the stock a “neutral” rating in a report on Friday, January 30th. Robert W. Baird set a $281.00 price target on shares of ResMed in a research report on Friday, January 30th. Finally, Morgan Stanley set a $305.00 price objective on shares of ResMed in a research note on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, ResMed presently has a consensus rating of “Moderate Buy” and an average price target of $299.27.

ResMed Company 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.