Dark Forest Capital Management LP Raises Stock Holdings in ResMed Inc. (NYSE:RMD)

Dark Forest Capital Management LP grew its stake in ResMed Inc. (NYSE:RMD - Free Report) by 122.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,285 shares of the medical equipment provider's stock after purchasing an additional 1,257 shares during the quarter. Dark Forest Capital Management LP's holdings in ResMed were worth $523,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of RMD. OFI Invest Asset Management purchased a new stake in ResMed in the fourth quarter worth about $39,000. BankPlus Trust Department purchased a new stake in ResMed in the fourth quarter worth $44,000. Rosenberg Matthew Hamilton bought a new position in ResMed in the fourth quarter worth $54,000. SBI Securities Co. Ltd. bought a new position in ResMed in the fourth quarter worth $67,000. Finally, Kentucky Trust Co bought a new stake in shares of ResMed during the 4th quarter valued at $82,000. Institutional investors own 54.98% of the company's stock.

ResMed Stock Performance

Shares of NYSE:RMD traded down $1.82 during midday trading on Monday, reaching $234.06. 1,117,896 shares of the company's stock traded hands, compared to its average volume of 1,017,721. The company has a market cap of $34.38 billion, a price-to-earnings ratio of 27.63, a P/E/G ratio of 1.53 and a beta of 0.75. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. ResMed Inc. has a one year low of $179.42 and a one year high of $263.05. The stock has a 50 day moving average of $221.91 and a 200 day moving average of $233.96.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.36 by $0.01. ResMed had a return on equity of 26.17% and a net margin of 25.34%. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the prior year, the company posted $2.13 earnings per share. The company's quarterly revenue was up 7.9% on a year-over-year basis. As a group, equities research analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 8th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend is Thursday, May 8th. ResMed's dividend payout ratio is 23.79%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Morgan Stanley started coverage on shares of ResMed in a report on Wednesday, March 19th. They issued an "overweight" rating and a $280.00 price objective on the stock. KeyCorp set a $274.00 price target on ResMed in a research note on Thursday. Mizuho set a $265.00 price objective on ResMed in a research note on Wednesday, April 16th. Royal Bank of Canada boosted their target price on ResMed from $247.00 to $255.00 and gave the stock a "sector perform" rating in a report on Thursday. Finally, Citigroup raised ResMed from a "neutral" rating to a "buy" rating in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $258.83.

Insider Buying and Selling at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total value of $484,220.00. Following the transaction, the director now owns 77,218 shares of the company's stock, valued at approximately $18,695,249.98. This represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kaushik Ghoshal sold 9,113 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $235.40, for a total value of $2,145,200.20. Following the completion of the sale, the insider now owns 9,725 shares of the company's stock, valued at approximately $2,289,265. The trade was a 48.38 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,013 shares of company stock valued at $11,298,816. 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.