Dynamic Technology Lab Private Ltd Has $2.08 Million Stock Position in ResMed Inc. (NYSE:RMD)

Dynamic Technology Lab Private Ltd increased its stake in ResMed Inc. (NYSE:RMD - Free Report) by 533.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,509 shares of the medical equipment provider's stock after buying an additional 7,165 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in ResMed were worth $2,077,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RMD. iA Global Asset Management Inc. purchased a new stake in shares of ResMed during the first quarter worth about $3,055,000. Versor Investments LP boosted its stake in shares of ResMed by 327.3% during the 2nd quarter. Versor Investments LP now owns 4,700 shares of the medical equipment provider's stock valued at $900,000 after buying an additional 3,600 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of ResMed by 245.2% in the second quarter. Assenagon Asset Management S.A. now owns 33,507 shares of the medical equipment provider's stock worth $6,414,000 after buying an additional 23,801 shares during the last quarter. Addenda Capital Inc. raised its holdings in ResMed by 17.4% in the second quarter. Addenda Capital Inc. now owns 58,986 shares of the medical equipment provider's stock valued at $11,291,000 after acquiring an additional 8,747 shares in the last quarter. Finally, Retireful LLC bought a new position in ResMed during the 3rd quarter valued at $742,000. 54.98% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on RMD shares. Royal Bank of Canada upped their target price on shares of ResMed from $224.00 to $232.00 and gave the company a "sector perform" rating in a research note on Friday, October 25th. Baird R W raised ResMed to a "strong-buy" rating in a report on Tuesday, September 24th. Wolfe Research reiterated an "underperform" rating and issued a $180.00 price target on shares of ResMed in a report on Wednesday, September 18th. KeyCorp raised their price objective on ResMed from $251.00 to $266.00 and gave the stock an "overweight" rating in a research note on Friday, October 25th. Finally, Robert W. Baird lifted their price target on shares of ResMed from $280.00 to $283.00 and gave the company an "outperform" rating in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, ResMed presently has an average rating of "Moderate Buy" and a consensus price target of $225.70.

ResMed Stock Performance

ResMed stock traded up $0.43 during mid-day trading on Tuesday, hitting $249.99. 675,487 shares of the company's stock traded hands, compared to its average volume of 1,040,459. ResMed Inc. has a one year low of $151.95 and a one year high of $260.49. The company has a market cap of $36.70 billion, a PE ratio of 33.11, a price-to-earnings-growth ratio of 1.77 and a beta of 0.69. The firm has a 50 day moving average price of $241.80 and a 200 day moving average price of $225.04. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD - Get Free Report) last announced its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.03 by $0.17. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. ResMed's revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.64 EPS. On average, equities analysts forecast that ResMed Inc. will post 9.28 EPS for the current year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 annualized dividend and a dividend yield of 0.85%. ResMed's dividend payout ratio is currently 28.08%.

Insider Buying and Selling

In related news, insider Justin Leong sold 6,160 shares of the firm's stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $243.09, for a total value of $1,497,434.40. Following the completion of the transaction, the insider now owns 21,718 shares of the company's stock, valued at approximately $5,279,428.62. This trade represents a 22.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Witte Jan De sold 796 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total value of $198,052.76. Following the completion of the sale, the director now directly owns 6,723 shares of the company's stock, valued at approximately $1,672,749.63. This represents a 10.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 68,334 shares of company stock worth $16,379,713 in the last ninety days. 0.71% of the stock is currently owned by corporate insiders.

ResMed Company Profile

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.