FORA Capital LLC Acquires Shares of 16,011 ResMed Inc. $RMD

FORA Capital LLC bought a new position in ResMed Inc. (NYSE:RMD) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 16,011 shares of the medical equipment provider’s stock, valued at approximately $4,131,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. WFA of San Diego LLC bought a new position in ResMed in the 2nd quarter worth approximately $26,000. Groupe la Francaise purchased a new position in shares of ResMed in the first quarter valued at $45,000. Harbour Investments Inc. raised its stake in shares of ResMed by 264.2% during the 2nd quarter. Harbour Investments Inc. now owns 244 shares of the medical equipment provider’s stock valued at $63,000 after purchasing an additional 177 shares during the period. Quarry LP lifted its holdings in ResMed by 141.1% during the 1st quarter. Quarry LP now owns 311 shares of the medical equipment provider’s stock worth $70,000 after purchasing an additional 182 shares in the last quarter. Finally, Virtus Advisers LLC bought a new position in ResMed in the 2nd quarter worth about $77,000. Institutional investors own 54.98% of the company’s stock.

ResMed Price Performance

Shares of NYSE:RMD opened at $251.96 on Friday. The company’s fifty day moving average price is $257.08 and its 200-day moving average price is $263.79. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.89 and a quick ratio of 2.13. The firm has a market capitalization of $36.77 billion, a price-to-earnings ratio of 25.79, a PEG ratio of 1.70 and a beta of 0.87. ResMed Inc. has a one year low of $199.92 and a one year high of $293.81.

ResMed (NYSE:RMD) last announced its earnings results on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.06. The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.33 billion. ResMed had a net margin of 27.35% and a return on equity of 25.45%. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.20 earnings per share. On average, equities research analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, November 13th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Thursday, November 13th. ResMed’s dividend payout ratio is presently 24.56%.

Insider Transactions at ResMed

In other ResMed news, General Counsel Michael J. Rider sold 100 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $274.36, for a total transaction of $27,436.00. Following the transaction, the general counsel directly owned 11,327 shares in the company, valued at $3,107,675.72. This trade represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Witte Jan De sold 2,055 shares of ResMed stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $255.00, for a total transaction of $524,025.00. Following the transaction, the director directly owned 4,261 shares in the company, valued at $1,086,555. This trade represents a 32.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 22,662 shares of company stock valued at $5,946,466 over the last 90 days. Company insiders own 0.65% of the company’s stock.

Analyst Ratings Changes

RMD has been the topic of several analyst reports. Morgan Stanley set a $305.00 price target on ResMed in a research report on Friday, October 31st. UBS Group reaffirmed a “buy” rating and set a $345.00 price objective on shares of ResMed in a research note on Friday. KeyCorp raised their price target on shares of ResMed from $298.00 to $299.00 and gave the company an “overweight” rating in a report on Friday, October 31st. Weiss Ratings restated a “hold (c+)” rating on shares of ResMed in a research report on Monday, December 8th. Finally, Wells Fargo & Company initiated coverage on ResMed in a research report on Monday, October 13th. They issued an “equal weight” rating and a $280.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $299.27.

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.