Virtu Financial LLC Makes New $1.64 Million Investment in ResMed Inc. (NYSE:RMD)

Virtu Financial LLC bought a new stake in shares of ResMed Inc. (NYSE:RMD) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 8,566 shares of the medical equipment provider’s stock, valued at approximately $1,640,000.

A number of other hedge funds have also made changes to their positions in RMD. Renaissance Technologies LLC bought a new position in ResMed during the 2nd quarter valued at $42,036,000. Dimensional Fund Advisors LP raised its stake in shares of ResMed by 19.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 661,717 shares of the medical equipment provider’s stock valued at $126,670,000 after purchasing an additional 107,279 shares in the last quarter. Plato Investment Management Ltd lifted its position in shares of ResMed by 6.9% during the second quarter. Plato Investment Management Ltd now owns 3,404 shares of the medical equipment provider’s stock worth $652,000 after purchasing an additional 220 shares during the last quarter. Inspire Advisors LLC grew its stake in ResMed by 1.9% in the second quarter. Inspire Advisors LLC now owns 3,060 shares of the medical equipment provider’s stock worth $586,000 after purchasing an additional 56 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its holdings in ResMed by 7.1% in the second quarter. Oppenheimer Asset Management Inc. now owns 10,177 shares of the medical equipment provider’s stock valued at $1,948,000 after buying an additional 674 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Buying and Selling

In other ResMed news, insider Justin Leong sold 48,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $217.07, for a total transaction of $10,419,360.00. Following the transaction, the insider now owns 18,741 shares of the company’s stock, valued at approximately $4,068,108.87. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other ResMed news, insider Justin Leong sold 48,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $217.07, for a total transaction of $10,419,360.00. Following the completion of the transaction, the insider now directly owns 18,741 shares of the company’s stock, valued at approximately $4,068,108.87. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael J. Farrell sold 14,683 shares of ResMed stock in a transaction on Monday, July 8th. The shares were sold at an average price of $192.97, for a total value of $2,833,378.51. Following the transaction, the chief executive officer now owns 440,799 shares in the company, valued at $85,060,983.03. The disclosure for this sale can be found here. Insiders sold 102,931 shares of company stock valued at $22,644,807 over the last 90 days. 1.21% of the stock is currently owned by company insiders.

ResMed Trading Down 0.4 %

ResMed stock opened at $250.88 on Wednesday. ResMed Inc. has a 52-week low of $132.24 and a 52-week high of $255.18. The company has a quick ratio of 1.69, a current ratio of 2.59 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $36.86 billion, a price-to-earnings ratio of 38.54, a PEG ratio of 2.49 and a beta of 0.69. The firm has a 50-day moving average price of $224.34 and a two-hundred day moving average price of $208.32.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.05. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.22 billion. ResMed had a return on equity of 25.00% and a net margin of 21.79%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.60 EPS. Sell-side analysts expect that ResMed Inc. will post 8.92 earnings per share for the current year.

ResMed Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Thursday, August 15th will be paid a dividend of $0.53 per share. This is a boost from ResMed’s previous quarterly dividend of $0.48. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date is Thursday, August 15th. ResMed’s payout ratio is currently 32.57%.

Wall Street Analysts Forecast Growth

RMD has been the topic of a number of research analyst reports. Royal Bank of Canada increased their target price on ResMed from $204.00 to $206.00 and gave the stock a “sector perform” rating in a report on Friday, August 2nd. Citigroup cut ResMed from a “buy” rating to a “neutral” rating in a research note on Monday, June 24th. Needham & Company LLC lowered shares of ResMed from a “buy” rating to a “hold” rating and set a $236.00 target price for the company. in a research note on Wednesday, September 4th. StockNews.com downgraded shares of ResMed from a “buy” rating to a “hold” rating in a research report on Friday, August 30th. Finally, Oppenheimer downgraded shares of ResMed from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $204.70.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.