Capital Fund Management S.A. Acquires 19,034 Shares of ResMed Inc. (NYSE:RMD)

Capital Fund Management S.A. boosted its stake in shares of ResMed Inc. (NYSE:RMD - Free Report) by 78.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,277 shares of the medical equipment provider's stock after acquiring an additional 19,034 shares during the quarter. Capital Fund Management S.A.'s holdings in ResMed were worth $9,897,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Wellington Management Group LLP lifted its position in ResMed by 35.7% during the 3rd quarter. Wellington Management Group LLP now owns 59,926 shares of the medical equipment provider's stock worth $14,629,000 after buying an additional 15,772 shares in the last quarter. Orion Portfolio Solutions LLC raised its stake in shares of ResMed by 21.9% in the third quarter. Orion Portfolio Solutions LLC now owns 4,689 shares of the medical equipment provider's stock worth $1,145,000 after acquiring an additional 841 shares during the last quarter. MML Investors Services LLC lifted its position in shares of ResMed by 3.1% during the third quarter. MML Investors Services LLC now owns 8,697 shares of the medical equipment provider's stock worth $2,123,000 after purchasing an additional 260 shares in the last quarter. M&T Bank Corp grew its stake in shares of ResMed by 4.5% during the third quarter. M&T Bank Corp now owns 10,737 shares of the medical equipment provider's stock valued at $2,622,000 after purchasing an additional 462 shares during the last quarter. Finally, Vestcor Inc increased its holdings in shares of ResMed by 15.3% in the third quarter. Vestcor Inc now owns 3,182 shares of the medical equipment provider's stock valued at $777,000 after purchasing an additional 422 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company's stock.

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ResMed Price Performance

Shares of NYSE RMD traded down $0.55 during mid-day trading on Tuesday, hitting $213.98. 1,769,512 shares of the stock traded hands, compared to its average volume of 1,031,741. The company has a market cap of $31.43 billion, a PE ratio of 25.26, a price-to-earnings-growth ratio of 1.53 and a beta of 0.75. ResMed Inc. has a twelve month low of $172.19 and a twelve month high of $263.05. 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 firm has a 50 day simple moving average of $225.09 and a two-hundred day simple moving average of $235.22.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) 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%. As a group, equities research analysts forecast that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.99%. The ex-dividend date was Thursday, February 13th. ResMed's dividend payout ratio (DPR) is presently 25.03%.

Insiders Place Their Bets

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the firm's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $209.85, for a total value 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 value of $484,220.00. Following the completion of the sale, the director now directly owns 77,218 shares of the company's stock, valued at $18,695,249.98. The trade was a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,013 shares of company stock worth $11,298,816. Corporate insiders own 0.71% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RMD. KeyCorp upped their price target on ResMed from $266.00 to $280.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Stifel Nicolaus reduced their target price on shares of ResMed from $250.00 to $240.00 and set a "hold" rating on the stock in a research note on Wednesday, March 5th. Piper Sandler lifted their price target on shares of ResMed from $252.00 to $260.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. The Goldman Sachs Group started coverage on shares of ResMed in a report on Thursday, January 16th. They issued a "buy" rating on the stock. Finally, Citigroup raised shares of ResMed from a "neutral" rating to a "buy" rating in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, ResMed has a consensus rating of "Moderate Buy" and a consensus target price of $249.73.

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.