Regal Partners Ltd Makes New $593,000 Investment in ResMed Inc. $RMD

Regal Partners Ltd bought a new position in shares of ResMed Inc. (NYSE:RMD) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 2,300 shares of the medical equipment provider’s stock, valued at approximately $593,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RMD. Vontobel Holding Ltd. grew its holdings in ResMed by 49.7% during the 1st quarter. Vontobel Holding Ltd. now owns 5,143 shares of the medical equipment provider’s stock worth $1,151,000 after acquiring an additional 1,707 shares in the last quarter. Mutual Advisors LLC grew its holdings in ResMed by 196.2% during the 1st quarter. Mutual Advisors LLC now owns 2,595 shares of the medical equipment provider’s stock worth $612,000 after acquiring an additional 1,719 shares in the last quarter. D.A. Davidson & CO. bought a new stake in shares of ResMed in the 1st quarter valued at about $688,000. OneDigital Investment Advisors LLC boosted its holdings in shares of ResMed by 34.7% in the 1st quarter. OneDigital Investment Advisors LLC now owns 1,239 shares of the medical equipment provider’s stock valued at $277,000 after buying an additional 319 shares in the last quarter. Finally, IFM Investors Pty Ltd boosted its holdings in shares of ResMed by 10.9% in the 1st quarter. IFM Investors Pty Ltd now owns 29,483 shares of the medical equipment provider’s stock valued at $7,197,000 after buying an additional 2,905 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other ResMed news, General Counsel Michael J. Rider sold 100 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $274.36, for a total transaction of $27,436.00. Following the completion of the transaction, the general counsel directly owned 11,327 shares of the company’s stock, valued at approximately $3,107,675.72. This trade represents a 0.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John Hernandez sold 2,575 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $287.10, for a total transaction of $739,282.50. Following the transaction, the director directly owned 4,045 shares of the company’s stock, valued at $1,161,319.50. This represents a 38.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 18,693 shares of company stock worth $5,270,419 in the last three months. Corporate insiders own 0.65% of the company’s stock.

ResMed Stock Down 2.2%

RMD stock opened at $246.67 on Friday. The firm has a 50 day moving average of $271.78 and a 200 day moving average of $261.08. The stock has a market capitalization of $36.00 billion, a PE ratio of 25.94, a price-to-earnings-growth ratio of 1.75 and a beta of 0.83. The company has a quick ratio of 2.53, a current ratio of 3.44 and a debt-to-equity ratio of 0.11. ResMed Inc. has a 52 week low of $199.92 and a 52 week high of $293.81.

ResMed (NYSE:RMD) last released its earnings results on Thursday, October 30th. The medical equipment provider reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.06. The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.33 billion. ResMed had a net margin of 27.22% and a return on equity of 25.62%. ResMed’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period last year, the business earned $2.20 EPS. Sell-side analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, November 13th will be paid a $0.60 dividend. The ex-dividend date is Thursday, November 13th. This represents a $2.40 dividend on an annualized basis and a yield of 1.0%. ResMed’s dividend payout ratio (DPR) is 25.24%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. UBS Group upgraded shares of ResMed to a “strong-buy” rating in a report on Tuesday, September 16th. Stifel Nicolaus raised their price target on shares of ResMed from $240.00 to $270.00 and gave the company a “hold” rating in a report on Friday, August 1st. Wall Street Zen cut shares of ResMed from a “buy” rating to a “hold” rating in a report on Sunday, August 10th. William Blair upgraded shares of ResMed to a “strong-buy” rating in a report on Friday, August 1st. Finally, CLSA upgraded shares of ResMed from a “hold” rating to an “outperform” rating in a report on Tuesday, September 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $297.20.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.