Aquatic Capital Management LLC Purchases New Shares in ResMed Inc. (NYSE:RMD)

Aquatic Capital Management LLC acquired a new stake in ResMed Inc. (NYSE:RMD - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 48,567 shares of the medical equipment provider's stock, valued at approximately $11,107,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. SkyView Investment Advisors LLC increased its position in shares of ResMed by 2.0% during the third quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider's stock worth $637,000 after purchasing an additional 51 shares in the last quarter. World Investment Advisors LLC purchased a new stake in shares of ResMed during the third quarter worth approximately $541,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of ResMed during the third quarter worth approximately $193,000. Tidal Investments LLC increased its position in shares of ResMed by 738.4% during the third quarter. Tidal Investments LLC now owns 104,938 shares of the medical equipment provider's stock worth $25,617,000 after purchasing an additional 92,422 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of ResMed by 56.5% during the third quarter. Franklin Resources Inc. now owns 174,113 shares of the medical equipment provider's stock worth $41,909,000 after purchasing an additional 62,882 shares in the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at ResMed

In other news, CEO Michael J. Farrell sold 8,009 shares of the business's stock in a transaction that occurred on 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 approximately $107,842,105.44. The trade was a 1.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter C. Farrell sold 2,000 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total transaction of $484,220.00. Following the sale, the director now owns 77,218 shares of the company's stock, valued at $18,695,249.98. This represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,013 shares of company stock worth $11,298,816. 0.71% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

RMD has been the subject of several research reports. Needham & Company LLC reiterated a "hold" rating on shares of ResMed in a research report on Friday, January 31st. UBS Group lowered their price objective on ResMed from $290.00 to $285.00 and set a "buy" rating on the stock in a research note on Thursday. Mizuho set a $265.00 price objective on ResMed in a research note on Wednesday, April 16th. Stifel Nicolaus lowered their price objective on ResMed from $250.00 to $240.00 and set a "hold" rating on the stock in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. boosted their price objective on ResMed from $286.00 to $290.00 and gave the stock an "overweight" rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $258.83.

ResMed Stock Down 0.8 %

ResMed stock traded down $1.82 during trading on Monday, reaching $234.06. The stock had a trading volume of 1,117,896 shares, compared to its average volume of 1,017,721. ResMed Inc. has a 52-week low of $179.42 and a 52-week high of $263.05. The business has a 50 day moving average price of $221.91 and a 200 day moving average price of $233.96. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The stock has a market cap of $34.38 billion, a PE ratio of 27.63, a P/E/G ratio of 1.53 and a beta of 0.75.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.01. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. ResMed had a net margin of 25.34% and a return on equity of 26.17%. The company's revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.13 EPS. On average, analysts predict that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $2.12 annualized dividend and a dividend yield of 0.91%. ResMed's dividend payout ratio is presently 23.79%.

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.