Runnymede Capital Advisors Inc. Buys New Stake in ResMed Inc. $RMD

Runnymede Capital Advisors Inc. purchased a new position in ResMed Inc. (NYSE:RMD) in the 4th quarter, Holdings Channel.com reports. The firm purchased 4,837 shares of the medical equipment provider’s stock, valued at approximately $1,165,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Landscape Capital Management L.L.C. boosted its stake in ResMed by 123.2% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 49,017 shares of the medical equipment provider’s stock valued at $13,417,000 after buying an additional 27,060 shares in the last quarter. Nordea Investment Management AB raised its stake in ResMed by 37.2% during the fourth quarter. Nordea Investment Management AB now owns 1,084,996 shares of the medical equipment provider’s stock worth $262,027,000 after acquiring an additional 294,124 shares in the last quarter. Allianz Asset Management GmbH raised its stake in ResMed by 44.8% during the third quarter. Allianz Asset Management GmbH now owns 357,421 shares of the medical equipment provider’s stock worth $97,837,000 after acquiring an additional 110,647 shares in the last quarter. WCM Investment Management LLC bought a new position in shares of ResMed during the third quarter valued at $3,110,000. Finally, Russell Investments Group Ltd. boosted its stake in shares of ResMed by 20.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 112,755 shares of the medical equipment provider’s stock valued at $30,847,000 after purchasing an additional 18,966 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

Insider Transactions at ResMed

In other ResMed news, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $251.03, for a total transaction of $1,252,890.73. Following the completion of the sale, the chief executive officer directly owned 466,223 shares of the company’s stock, valued at approximately $117,035,959.69. The trade was a 1.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total transaction of $450,000.00. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 23,023 shares of company stock valued at $5,843,111. Corporate insiders own 0.65% of the company’s stock.

ResMed Stock Performance

RMD stock opened at $224.23 on Monday. The company has a 50 day moving average price of $246.52 and a 200 day moving average price of $253.15. ResMed Inc. has a fifty-two week low of $199.92 and a fifty-two week high of $293.81. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.06 and a quick ratio of 2.32. The stock has a market capitalization of $32.67 billion, a PE ratio of 22.18, a price-to-earnings-growth ratio of 1.49 and a beta of 0.93.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Friday, January 30th. The medical equipment provider reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.13. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. ResMed had a return on equity of 25.20% and a net margin of 27.53%.The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period last year, the company earned $2.43 EPS. Analysts forecast that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Thursday, February 12th were issued a $0.60 dividend. The ex-dividend date was Thursday, February 12th. This represents a $2.40 annualized dividend and a yield of 1.1%. ResMed’s dividend payout ratio (DPR) is currently 23.74%.

Analyst Ratings Changes

RMD has been the topic of several analyst reports. UBS Group reaffirmed a “buy” rating and issued a $345.00 target price on shares of ResMed in a report on Friday, December 12th. Weiss Ratings downgraded shares of ResMed from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, March 19th. Royal Bank Of Canada boosted their price target on shares of ResMed from $311.00 to $314.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. Wall Street Zen lowered shares of ResMed from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Finally, Citigroup lifted their target price on shares of ResMed from $330.00 to $345.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, ResMed presently has an average rating of “Moderate Buy” and an average price target of $299.27.

ResMed Company Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.