Landscape Capital Management L.L.C. Has $3.15 Million Stake in ResMed Inc. (NYSE:RMD)

Landscape Capital Management L.L.C. increased its position in shares of ResMed Inc. (NYSE:RMD) by 123.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 12,916 shares of the medical equipment provider’s stock after purchasing an additional 7,128 shares during the quarter. Landscape Capital Management L.L.C.’s holdings in ResMed were worth $3,153,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. OFI Invest Asset Management bought a new position in ResMed during the 2nd quarter worth $32,000. Ashton Thomas Securities LLC bought a new stake in shares of ResMed in the third quarter valued at about $34,000. Versant Capital Management Inc grew 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 in the last quarter. Financial Connections Group Inc. bought a new position in ResMed during the second quarter worth about $37,000. Finally, Blue Trust Inc. raised its stake in 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 purchasing an additional 137 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors.

ResMed Trading Up 1.4 %

Shares of RMD opened at $241.55 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92. ResMed Inc. has a 52-week low of $150.39 and a 52-week high of $260.49. The firm has a market cap of $35.46 billion, a price-to-earnings ratio of 31.99, a PEG ratio of 1.73 and a beta of 0.69. The business’s fifty day moving average is $242.10 and its 200-day moving average is $224.10.

ResMed (NYSE:RMD) last released its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.17. The firm had revenue of $1.22 billion for 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 revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.64 earnings per share. Equities analysts anticipate that ResMed Inc. will post 9.28 EPS for the current fiscal year.

ResMed Announces Dividend

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 given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend is Thursday, November 7th. ResMed’s dividend payout ratio is 28.08%.

Insider Activity at ResMed

In other news, CFO Brett Sandercock sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $233.47, for a total value of $233,470.00. Following the completion of the transaction, the chief financial officer now owns 95,812 shares of the company’s stock, valued at $22,369,227.64. This represents a 1.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Michael J. Farrell sold 14,683 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $248.38, for a total transaction of $3,646,963.54. Following the completion of the transaction, the chief executive officer now owns 464,169 shares of the company’s stock, valued at approximately $115,290,296.22. This trade represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 62,174 shares of company stock valued at $14,882,278 in the last quarter. Insiders own 0.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Wolfe Research restated an “underperform” rating and set a $180.00 target price on shares of ResMed in a research report on Wednesday, September 18th. Bank of America boosted their price target on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Baird R W upgraded ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research report on Friday, October 25th. Finally, KeyCorp increased their target price on ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $225.70.

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.