Entropy Technologies LP Invests $1.87 Million in ResMed Inc. (NYSE:RMD)

Entropy Technologies LP purchased a new stake in ResMed Inc. (NYSE:RMD - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 7,670 shares of the medical equipment provider's stock, valued at approximately $1,872,000.

Other large investors also recently made changes to their positions in the company. OFI Invest Asset Management bought a new stake in ResMed during the second quarter worth approximately $32,000. Ashton Thomas Securities LLC bought a new stake in shares of ResMed during the 3rd quarter worth $34,000. Versant Capital Management Inc grew its holdings in shares of ResMed by 196.7% in the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider's stock worth $35,000 after acquiring an additional 120 shares during the last quarter. Financial Connections Group Inc. acquired a new stake in shares of ResMed during the second quarter worth $37,000. Finally, Blue Trust Inc. lifted its holdings in shares of ResMed by 182.7% during the second quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider's stock valued at $42,000 after purchasing an additional 137 shares during the last quarter. Institutional investors own 54.98% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on RMD shares. Baird R W raised shares of ResMed to a "strong-buy" rating in a research note on Tuesday, September 24th. Wolfe Research restated an "underperform" rating and issued a $180.00 price target on shares of ResMed in a research report on Wednesday, September 18th. Robert W. Baird lifted their price objective on shares of ResMed from $280.00 to $283.00 and gave the stock an "outperform" rating in a research report on Friday, October 25th. Bank of America increased their target price on ResMed from $240.00 to $270.00 and gave the company a "buy" rating in a report on Thursday, September 26th. Finally, StockNews.com upgraded ResMed from a "hold" rating to a "buy" rating in a research report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $225.70.

Insider Buying and Selling at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of the business's stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $239.90, for a total transaction of $479,800.00. Following the completion of the transaction, the director now owns 87,204 shares of the company's stock, valued at approximately $20,920,239.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other ResMed news, insider Kaushik Ghoshal sold 4,260 shares of the firm's stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $238.48, for a total value of $1,015,924.80. Following the completion of the sale, the insider now owns 21,788 shares in the company, valued at approximately $5,196,002.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the business's stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $239.90, for a total value of $479,800.00. Following the sale, the director now owns 87,204 shares in the company, valued at approximately $20,920,239.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 62,260 shares of company stock worth $14,887,967 over the last ninety days. Company insiders own 0.71% of the company's stock.

ResMed Stock Down 4.3 %

RMD stock traded down $10.65 during trading hours on Wednesday, hitting $236.56. The company's stock had a trading volume of 443,749 shares, compared to its average volume of 1,045,948. The company has a market capitalization of $34.73 billion, a PE ratio of 32.47, a price-to-earnings-growth ratio of 1.81 and a beta of 0.69. The stock has a 50 day moving average price of $243.48 and a two-hundred day moving average price of $223.28. 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 Inc. has a 12 month low of $144.29 and a 12 month high of $260.49.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping analysts' consensus estimates of $2.03 by $0.17. The company had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The business's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.64 earnings per share. On average, equities research analysts expect that ResMed Inc. will post 9.22 earnings per share for the current year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Thursday, November 7th. ResMed's dividend payout ratio is 28.08%.

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.