AlphaQuest LLC Has $677,000 Stake in ResMed Inc. (NYSE:RMD)

AlphaQuest LLC grew its stake in ResMed Inc. (NYSE:RMD) by 58.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,962 shares of the medical equipment provider’s stock after buying an additional 1,090 shares during the quarter. AlphaQuest LLC’s holdings in ResMed were worth $677,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in RMD. OFI Invest Asset Management acquired a new stake in ResMed in the 4th quarter worth approximately $39,000. Personal CFO Solutions LLC bought a new position in shares of ResMed in the fourth quarter valued at approximately $295,000. Amundi lifted its stake in shares of ResMed by 4.2% in the fourth quarter. Amundi now owns 590,212 shares of the medical equipment provider’s stock worth $139,386,000 after buying an additional 23,775 shares during the last quarter. River Global Investors LLP bought a new stake in shares of ResMed during the 4th quarter worth $9,575,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in ResMed in the 4th quarter valued at $267,000. Institutional investors own 54.98% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on RMD shares. KeyCorp boosted their target price on shares of ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. UBS Group raised ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. StockNews.com lowered ResMed from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Piper Sandler upped their price target on ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Finally, Citigroup raised ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ResMed currently has an average rating of “Moderate Buy” and a consensus price target of $243.82.

ResMed Stock Down 4.7 %

RMD opened at $225.47 on Wednesday. The company has a market capitalization of $33.11 billion, a P/E ratio of 26.62, a P/E/G ratio of 1.53 and a beta of 0.74. 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 firm’s fifty day moving average price is $236.80 and its two-hundred day moving average price is $240.13. ResMed Inc. has a fifty-two week low of $172.19 and a fifty-two week high of $263.05.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. On average, analysts anticipate that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be issued a $0.53 dividend. The ex-dividend date is Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.94%. ResMed’s payout ratio is presently 25.03%.

Insider Buying and Selling

In related news, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the completion of the sale, the chief executive officer now owns 455,472 shares in the company, valued at $107,842,105.44. This trade represents a 1.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total transaction of $484,220.00. Following the completion of the transaction, the director now owns 77,218 shares in the company, valued at approximately $18,695,249.98. This trade represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,940 shares of company stock worth $9,164,385 in the last 90 days. 0.71% of the stock is owned by company insiders.

About ResMed

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.