Dynamic Technology Lab Private Ltd Acquires 7,165 Shares of ResMed Inc. (NYSE:RMD)

Dynamic Technology Lab Private Ltd raised its holdings in shares of ResMed Inc. (NYSE:RMD) by 533.1% in the 3rd quarter, Holdings Channel.com reports. The firm 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. OFI Invest Asset Management bought a new position in shares of ResMed during the 2nd quarter valued at approximately $32,000. Ashton Thomas Securities LLC bought a new position in ResMed during the third quarter valued at $34,000. Versant Capital Management Inc raised its stake in shares of ResMed by 196.7% in the second quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock valued at $35,000 after acquiring an additional 120 shares during the period. Financial Connections Group Inc. purchased a new stake in shares of ResMed in the second quarter valued at $37,000. Finally, Blue Trust Inc. lifted its holdings in shares of ResMed by 182.7% in the 2nd quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock worth $42,000 after acquiring an additional 137 shares during the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

ResMed Price Performance

NYSE RMD opened at $249.68 on Tuesday. The firm’s 50 day moving average price is $241.82 and its 200-day moving average price is $224.79. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92. The company has a market cap of $36.65 billion, a PE ratio of 33.07, a P/E/G ratio of 1.77 and a beta of 0.69. ResMed Inc. has a 52-week low of $151.95 and a 52-week high of $260.49.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, topping the consensus estimate of $2.03 by $0.17. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the company posted $1.64 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. Sell-side analysts forecast that ResMed Inc. will post 9.28 EPS for the current fiscal year.

ResMed Announces Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Thursday, November 7th. ResMed’s payout ratio is 28.08%.

Insider Transactions at ResMed

In related news, CEO Michael J. Farrell sold 14,683 shares of the business’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. The trade was a 3.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Witte Jan De sold 796 shares of the firm’s 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 68,334 shares of company stock valued at $16,379,713 in the last 90 days. Insiders own 0.71% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on RMD shares. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Baird R W upgraded ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. KeyCorp raised their price target on ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Wolfe Research reaffirmed an “underperform” rating and issued a $180.00 price objective on shares of ResMed in a research report on Wednesday, September 18th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $225.70.

ResMed 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.