GAMMA Investing LLC Purchases 476 Shares of ResMed Inc. (NYSE:RMD)

GAMMA Investing LLC grew its position in shares of ResMed Inc. (NYSE:RMD) by 56.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,324 shares of the medical equipment provider’s stock after purchasing an additional 476 shares during the quarter. GAMMA Investing LLC’s holdings in ResMed were worth $253,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of RMD. Atlantic Edge Private Wealth Management LLC bought a new position in ResMed during the fourth quarter valued at approximately $27,000. Hall Laurie J Trustee purchased a new stake in shares of ResMed in the 1st quarter valued at $32,000. BOK Financial Private Wealth Inc. bought a new position in shares of ResMed during the 1st quarter valued at $35,000. MV Capital Management Inc. grew its holdings in shares of ResMed by 39.0% during the 4th quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock valued at $37,000 after purchasing an additional 60 shares during the last quarter. Finally, Riverview Trust Co purchased a new position in ResMed in the 1st quarter worth $42,000. 54.98% of the stock is owned by hedge funds and other institutional investors.

ResMed Stock Up 1.9 %

RMD stock traded up $4.18 on Tuesday, reaching $219.86. 434,869 shares of the company traded hands, compared to its average volume of 1,063,218. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.04 and a quick ratio of 1.97. The firm has a fifty day simple moving average of $203.94 and a 200-day simple moving average of $196.95. ResMed Inc. has a one year low of $132.24 and a one year high of $225.68. The company has a market cap of $32.30 billion, a P/E ratio of 33.77, a price-to-earnings-growth ratio of 1.93 and a beta of 0.66.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.05. ResMed had a return on equity of 25.58% and a net margin of 21.79%. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the previous year, the firm earned $1.60 EPS. ResMed’s quarterly revenue was up 6.9% compared to the same quarter last year. Research analysts anticipate that ResMed Inc. will post 8.79 earnings per share for the current year.

ResMed Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Thursday, August 15th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $2.12 annualized dividend and a dividend yield of 0.96%. This is an increase from ResMed’s previous quarterly dividend of $0.48. ResMed’s dividend payout ratio (DPR) is 29.49%.

Insider Buying and Selling

In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of ResMed stock in a transaction on Friday, June 7th. The stock was sold at an average price of $211.66, for a total value of $3,107,803.78. Following the completion of the sale, the chief executive officer now owns 440,799 shares of the company’s stock, valued at approximately $93,299,516.34. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of ResMed stock in a transaction on Friday, June 7th. The stock was sold at an average price of $211.66, for a total value of $3,107,803.78. Following the completion of the sale, the chief executive officer now owns 440,799 shares of the company’s stock, valued at approximately $93,299,516.34. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Witte Jan De sold 360 shares of ResMed stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $218.29, for a total value of $78,584.40. Following the completion of the sale, the director now directly owns 7,519 shares of the company’s stock, valued at approximately $1,641,322.51. The disclosure for this sale can be found here. Insiders sold a total of 31,726 shares of company stock worth $6,423,927 in the last three months. Insiders own 1.21% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on RMD. Royal Bank of Canada lifted their price objective on ResMed from $204.00 to $206.00 and gave the stock a “sector perform” rating in a report on Friday. Oppenheimer downgraded ResMed from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. KeyCorp raised their target price on shares of ResMed from $238.00 to $251.00 and gave the stock an “overweight” rating in a report on Friday. Needham & Company LLC reaffirmed a “buy” rating and issued a $236.00 target price on shares of ResMed in a research note on Friday. Finally, Citigroup cut shares of ResMed from a “buy” rating to a “neutral” rating in a research report on Monday, June 24th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $204.70.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.