Qsemble Capital Management LP Makes New $728,000 Investment in ResMed Inc. (NYSE:RMD)

Qsemble Capital Management LP purchased a new stake in shares of ResMed Inc. (NYSE:RMD) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,984 shares of the medical equipment provider’s stock, valued at approximately $728,000.

A number of other hedge funds have also modified their holdings of RMD. Bank of New York Mellon Corp increased its position in 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 purchasing an additional 1,959,642 shares during the last quarter. Charles Schwab Investment Management Inc. grew 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 valued at $225,578,000 after buying an additional 13,985 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in ResMed by 48.3% in the second quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider’s stock worth $141,694,000 after buying an additional 241,195 shares during the last quarter. Greenvale Capital LLP raised its position in 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 acquiring an additional 275,000 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in ResMed by 19.3% in the second quarter. Dimensional Fund Advisors LP now owns 661,717 shares of the medical equipment provider’s stock valued at $126,670,000 after acquiring an additional 107,279 shares during the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Stock Up 0.2 %

RMD opened at $249.99 on Wednesday. The company has a market capitalization of $36.70 billion, a P/E ratio of 33.11, a P/E/G ratio of 1.82 and a beta of 0.69. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. The firm’s fifty day moving average price is $241.80 and its two-hundred day moving average price is $225.04. ResMed Inc. has a fifty-two week low of $151.95 and a fifty-two week high of $260.49.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share 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 was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.64 earnings per share. On average, analysts anticipate that ResMed Inc. will post 9.28 EPS for the current 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 $0.53 dividend. The ex-dividend date is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a yield of 0.85%. ResMed’s dividend payout ratio (DPR) is presently 28.08%.

Insiders Place Their Bets

In related news, Director Witte Jan De sold 796 shares of ResMed 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 transaction, the director now directly owns 6,723 shares of the company’s stock, valued at $1,672,749.63. The trade was a 10.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael J. Farrell sold 14,683 shares of ResMed stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $248.38, for a total value of $3,646,963.54. Following the completion of the transaction, the chief executive officer now directly owns 464,169 shares of the company’s stock, valued at $115,290,296.22. This represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 68,334 shares of company stock valued at $16,379,713. 0.71% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research note on Friday, October 25th. KeyCorp raised their target price on shares of ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Wolfe Research reissued an “underperform” rating and set a $180.00 target price on shares of ResMed in a research report on Wednesday, September 18th. Finally, Bank of America increased their price objective on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. One equities 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 given a strong buy rating to the company. According to data from MarketBeat, ResMed currently has a consensus rating of “Moderate Buy” and an average target price 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.