Semanteon Capital Management LP Acquires 2,854 Shares of ResMed Inc. (NYSE:RMD)

Semanteon Capital Management LP lifted its holdings in ResMed Inc. (NYSE:RMD - Free Report) by 139.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,897 shares of the medical equipment provider's stock after purchasing an additional 2,854 shares during the quarter. ResMed accounts for approximately 0.8% of Semanteon Capital Management LP's holdings, making the stock its 18th largest position. Semanteon Capital Management LP's holdings in ResMed were worth $1,195,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of RMD. Valley National Advisers Inc. grew its holdings in ResMed by 12,805.5% during the third quarter. Valley National Advisers Inc. now owns 7,098 shares of the medical equipment provider's stock worth $1,732,000 after acquiring an additional 7,043 shares during the period. DekaBank Deutsche Girozentrale grew its position in ResMed by 16.4% in the third quarter. DekaBank Deutsche Girozentrale now owns 31,923 shares of the medical equipment provider's stock worth $7,590,000 after buying an additional 4,507 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of ResMed by 35.2% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 7,271 shares of the medical equipment provider's stock valued at $1,775,000 after acquiring an additional 1,893 shares during the last quarter. NorthCrest Asset Manangement LLC raised its position in shares of ResMed by 2.7% during the third quarter. NorthCrest Asset Manangement LLC now owns 52,492 shares of the medical equipment provider's stock worth $12,814,000 after purchasing an additional 1,378 shares during the period. Finally, Forsta AP Fonden lifted its holdings in shares of ResMed by 111.6% during the third quarter. Forsta AP Fonden now owns 56,700 shares of the medical equipment provider's stock valued at $13,842,000 after purchasing an additional 29,900 shares during the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Brett Sandercock sold 1,000 shares of ResMed stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $212.16, for a total value of $212,160.00. Following the sale, the chief financial officer now owns 89,056 shares of the company's stock, valued at approximately $18,894,120.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Brett Sandercock sold 1,000 shares of the firm's stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $212.16, for a total value of $212,160.00. Following the completion of the sale, the chief financial officer now directly owns 89,056 shares in the company, valued at approximately $18,894,120.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Kaushik Ghoshal sold 4,260 shares of the company's stock in a transaction on Friday, October 11th. The shares were sold at an average price of $238.48, for a total transaction of $1,015,924.80. Following the completion of the transaction, the insider now owns 21,788 shares in the company, valued at approximately $5,196,002.24. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 123,874 shares of company stock valued at $28,151,142 in the last ninety days. 0.71% of the stock is owned by insiders.

Analysts Set New Price Targets

RMD has been the subject of several recent analyst reports. Bank of America raised their target price on shares of ResMed from $240.00 to $270.00 and gave the stock a "buy" rating in a report on Thursday, September 26th. Royal Bank of Canada increased their target price on shares of ResMed from $224.00 to $232.00 and gave the stock a "sector perform" rating in a research report on Friday. Baird R W upgraded shares of ResMed to a "strong-buy" rating in a report on Tuesday, September 24th. Needham & Company LLC reiterated a "hold" rating on shares of ResMed in a research note on Friday. Finally, KeyCorp lifted their price target on ResMed from $251.00 to $266.00 and gave the stock an "overweight" rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $225.70.

ResMed Price Performance

NYSE RMD traded down $9.24 on Monday, reaching $246.83. The company's stock had a trading volume of 1,743,131 shares, compared to its average volume of 1,049,627. The firm has a market cap of $36.23 billion, a PE ratio of 32.69, a price-to-earnings-growth ratio of 2.05 and a beta of 0.69. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 52 week low of $134.12 and a 52 week high of $260.49. The business has a 50-day moving average price of $241.10 and a 200 day moving average price of $218.57.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, beating the consensus estimate of $2.03 by $0.17. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. ResMed's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.64 EPS. Sell-side analysts expect that ResMed Inc. will post 9.16 EPS for the current year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a yield of 0.86%. ResMed's dividend payout ratio is presently 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.