RPG Investment Advisory LLC Takes $5.51 Million Position in ResMed Inc. (RMD)

RPG Investment Advisory LLC purchased a new position in ResMed Inc. (NYSE:RMD) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 47,766 shares of the medical equipment provider’s stock, valued at approximately $5,509,000.

A number of other hedge funds have also recently modified their holdings of the stock. Harvest Fund Management Co. Ltd increased its position in ResMed by 245.4% during the third quarter. Harvest Fund Management Co. Ltd now owns 905 shares of the medical equipment provider’s stock valued at $104,000 after acquiring an additional 643 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in ResMed during the second quarter valued at $131,000. Qube Research & Technologies Ltd purchased a new stake in ResMed during the second quarter valued at $148,000. Cerebellum GP LLC purchased a new stake in ResMed during the third quarter valued at $186,000. Finally, Piedmont Investment Advisors LLC purchased a new stake in ResMed during the second quarter valued at $167,000. 64.10% of the stock is currently owned by institutional investors.

In related news, CFO Brett Sandercock sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $107.45, for a total transaction of $214,900.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James Hollingshead sold 600 shares of the stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $115.88, for a total value of $69,528.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,420 shares of company stock valued at $1,467,835. 1.24% of the stock is owned by corporate insiders.

A number of research firms recently commented on RMD. Zacks Investment Research cut ResMed from a “hold” rating to a “sell” rating in a research report on Tuesday, July 24th. BMO Capital Markets upped their price objective on ResMed from $107.00 to $109.00 and gave the company a “market perform” rating in a research report on Friday, October 26th. Finally, Credit Suisse Group upgraded ResMed from a “neutral” rating to an “outperform” rating in a research report on Friday, October 26th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $114.50.

Shares of NYSE:RMD traded up $1.30 during trading on Wednesday, hitting $106.29. 70,095 shares of the company’s stock were exchanged, compared to its average volume of 833,469. The company has a current ratio of 2.58, a quick ratio of 1.91 and a debt-to-equity ratio of 0.27. ResMed Inc. has a 52-week low of $81.52 and a 52-week high of $116.64. The stock has a market capitalization of $15.06 billion, a P/E ratio of 30.11, a P/E/G ratio of 2.70 and a beta of 0.97.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, October 25th. The medical equipment provider reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.01. ResMed had a return on equity of 26.29% and a net margin of 13.94%. The company had revenue of $588.28 million during the quarter, compared to analyst estimates of $576.66 million. On average, research analysts predict that ResMed Inc. will post 3.7 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 13th. Investors of record on Thursday, November 8th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date is Wednesday, November 7th. ResMed’s payout ratio is presently 41.93%.

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ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. 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, portable oxygen concentrators, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.

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Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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