Vinva Investment Management Ltd Has $5 Million Stake in ResMed Inc. (NYSE:RMD)

Vinva Investment Management Ltd boosted its stake in ResMed Inc. (NYSE:RMD - Free Report) by 243.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,903 shares of the medical equipment provider's stock after purchasing an additional 14,820 shares during the period. Vinva Investment Management Ltd's holdings in ResMed were worth $4,996,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in ResMed in the 3rd quarter valued at $34,000. OFI Invest Asset Management acquired a new stake in ResMed in the 2nd quarter valued at $32,000. Versant Capital Management Inc increased its holdings in ResMed by 196.7% in the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider's stock valued at $35,000 after purchasing an additional 120 shares in the last quarter. Financial Connections Group Inc. purchased a new position in ResMed in the 2nd quarter valued at about $37,000. Finally, Blue Trust Inc. boosted its position in ResMed by 182.7% in the 2nd quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider's stock valued at $42,000 after buying an additional 137 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ResMed

In other ResMed news, insider Kaushik Ghoshal sold 5,000 shares of ResMed stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $252.56, for a total value of $1,262,800.00. Following the transaction, the insider now owns 21,788 shares in the company, valued at approximately $5,502,777.28. The trade was a 18.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Justin Leong sold 6,160 shares of ResMed stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the completion of the transaction, the insider now owns 21,718 shares in the company, valued at approximately $5,279,428.62. This trade represents a 22.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,334 shares of company stock worth $16,379,713 over the last quarter. 0.71% of the stock is currently owned by company insiders.

ResMed Stock Performance

NYSE RMD traded down $0.07 during trading hours on Friday, reaching $249.26. The company's stock had a trading volume of 351,326 shares, compared to its average volume of 1,035,809. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. The business has a 50-day simple moving average of $242.24 and a 200 day simple moving average of $225.60. ResMed Inc. has a 52 week low of $156.39 and a 52 week high of $260.49. The stock has a market cap of $36.59 billion, a PE ratio of 33.01, a PEG ratio of 1.81 and a beta of 0.69.

ResMed (NYSE:RMD - Get Free Report) last issued its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.19 billion. During the same quarter last year, the company posted $1.64 earnings per share. ResMed's revenue was up 11.1% on a year-over-year basis. Equities research analysts predict that ResMed Inc. will post 9.28 earnings per share for the current fiscal 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 paid a dividend of $0.53 per share. The ex-dividend date is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.85%. ResMed's dividend payout ratio is presently 28.08%.

Analysts Set New Price Targets

RMD has been the subject of a number of analyst reports. StockNews.com raised shares of ResMed from a "hold" rating to a "buy" rating in a research report on Tuesday, October 15th. Wolfe Research reissued an "underperform" rating and issued a $180.00 price objective on shares of ResMed in a research report on Wednesday, September 18th. Robert W. Baird upped their price objective on shares of ResMed from $280.00 to $283.00 and gave the company an "outperform" rating in a research report on Friday, October 25th. Royal Bank of Canada upped their price objective on shares of ResMed from $224.00 to $232.00 and gave the company a "sector perform" rating in a research report on Friday, October 25th. Finally, KeyCorp upped their price objective on shares of ResMed from $251.00 to $266.00 and gave the company an "overweight" rating in a research report on Friday, October 25th. 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 company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $225.70.

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.