Aquatic Capital Management LLC Makes New Investment in ResMed Inc. (NYSE:RMD)

Aquatic Capital Management LLC purchased a new position in shares of ResMed Inc. (NYSE:RMD) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 48,567 shares of the medical equipment provider’s stock, valued at approximately $11,107,000.

Other large investors also recently modified their holdings of the company. OFI Invest Asset Management bought a new position in ResMed during the fourth quarter worth $39,000. Coppell Advisory Solutions LLC grew its stake in shares of ResMed by 1,750.0% in the 4th quarter. Coppell Advisory Solutions LLC now owns 185 shares of the medical equipment provider’s stock valued at $42,000 after buying an additional 175 shares during the period. BankPlus Trust Department bought a new stake in ResMed in the 4th quarter valued at about $44,000. Rosenberg Matthew Hamilton acquired a new position in ResMed during the 4th quarter worth approximately $54,000. Finally, SBI Securities Co. Ltd. bought a new position in ResMed in the fourth quarter worth approximately $67,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on RMD. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research report on Friday, January 31st. The Goldman Sachs Group assumed coverage on shares of ResMed in a research note on Thursday, January 16th. They issued a “buy” rating on the stock. Morgan Stanley began coverage on shares of ResMed in a research report on Wednesday, March 19th. They set an “overweight” rating and a $280.00 target price for the company. Mizuho set a $265.00 price target on shares of ResMed in a research report on Wednesday, April 16th. Finally, Piper Sandler decreased their price objective on ResMed from $260.00 to $248.00 and set a “neutral” rating for the company in a report on Thursday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, ResMed has a consensus rating of “Moderate Buy” and an average target price of $254.31.

Insiders Place Their Bets

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $219.74, for a total transaction of $439,480.00. Following the completion of the transaction, the director now owns 73,218 shares in the company, valued at $16,088,923.32. This trade represents a 2.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael J. Farrell sold 8,009 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $209.85, for a total transaction of $1,680,688.65. Following the completion of the sale, the chief executive officer now directly owns 455,472 shares in the company, valued at approximately $95,580,799.20. This trade represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,013 shares of company stock valued at $11,298,816 over the last ninety days. 0.71% of the stock is currently owned by insiders.

ResMed Trading Down 0.1 %

NYSE RMD opened at $235.79 on Friday. The business’s fifty day moving average is $221.92 and its 200-day moving average is $234.05. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The stock has a market capitalization of $34.63 billion, a price-to-earnings ratio of 27.84, a PEG ratio of 1.53 and a beta of 0.75. ResMed Inc. has a one year low of $179.42 and a one year high of $263.05.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, hitting the consensus estimate of $2.37. ResMed had a net margin of 25.34% and a return on equity of 26.17%. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. Equities research analysts predict that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 8th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Thursday, May 8th. ResMed’s dividend payout ratio (DPR) is 25.03%.

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.