Quantinno Capital Management LP Has $6.02 Million Stake in ResMed Inc. (NYSE:RMD)

Quantinno Capital Management LP boosted its holdings in ResMed Inc. (NYSE:RMD - Free Report) by 59.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 24,638 shares of the medical equipment provider's stock after buying an additional 9,166 shares during the period. Quantinno Capital Management LP's holdings in ResMed were worth $6,015,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of RMD. Bank of New York Mellon Corp grew its position in shares of ResMed by 51.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider's stock worth $1,105,022,000 after acquiring an additional 1,959,642 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of ResMed by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 924,047 shares of the medical equipment provider's stock worth $225,578,000 after buying an additional 13,985 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of ResMed by 0.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 742,411 shares of the medical equipment provider's stock worth $181,237,000 after purchasing an additional 2,406 shares during the period. Los Angeles Capital Management LLC grew its holdings in shares of ResMed by 48.3% during the second quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider's stock valued at $141,694,000 after buying an additional 241,195 shares in the last quarter. Finally, Greenvale Capital LLP grew its holdings in shares of ResMed by 61.1% during the second quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider's stock valued at $138,780,000 after buying an additional 275,000 shares in the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Michael J. Farrell sold 14,683 shares of the firm's stock in a transaction on Monday, September 9th. The stock was sold at an average price of $248.38, for a total transaction of $3,646,963.54. Following the transaction, the chief executive officer now directly owns 464,169 shares in the company, valued at $115,290,296.22. This trade represents a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Brett Sandercock sold 1,000 shares of the firm's stock in a transaction on Monday, September 9th. The shares were sold at an average price of $246.42, for a total value of $246,420.00. Following the transaction, the chief financial officer now directly owns 96,812 shares in the company, valued at $23,856,413.04. This trade represents a 1.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 68,408 shares of company stock worth $16,409,632 in the last three months. Corporate insiders own 0.71% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on RMD. Needham & Company LLC reiterated a "hold" rating on shares of ResMed in a research note on Friday, October 25th. Robert W. Baird increased their price target on ResMed from $280.00 to $283.00 and gave the company an "outperform" rating in a research note on Friday, October 25th. KeyCorp lifted their price target on ResMed from $251.00 to $266.00 and gave the company an "overweight" rating in a research note on Friday, October 25th. Baird R W upgraded ResMed to a "strong-buy" rating in a report on Tuesday, September 24th. Finally, Bank of America upped their target price on ResMed from $240.00 to $270.00 and gave the company a "buy" rating in a research report on Thursday, September 26th. One analyst has rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, ResMed currently has an average rating of "Moderate Buy" and an average price target of $225.70.

ResMed Trading Up 0.8 %

RMD traded up $2.00 on Friday, reaching $241.41. 462,436 shares of the company traded hands, compared to its average volume of 753,957. The firm has a fifty day simple moving average of $242.30 and a two-hundred day simple moving average of $226.52. 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 one year low of $162.05 and a one year high of $260.49. The company has a market cap of $35.44 billion, a P/E ratio of 31.97, a price-to-earnings-growth ratio of 1.79 and a beta of 0.68.

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

ResMed Announces Dividend

The business 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. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 annualized dividend and a dividend yield of 0.88%. ResMed's payout ratio is currently 28.08%.

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.