AlphaQuest LLC Has $1.66 Million Stock Holdings in ResMed Inc. $RMD

AlphaQuest LLC trimmed its position in shares of ResMed Inc. (NYSE:RMD) by 55.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,894 shares of the medical equipment provider’s stock after selling 8,469 shares during the quarter. AlphaQuest LLC’s holdings in ResMed were worth $1,661,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC bought a new position in shares of ResMed during the fourth quarter worth about $25,000. ORG Partners LLC raised its position in shares of ResMed by 181.6% during the fourth quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock worth $26,000 after acquiring an additional 69 shares during the last quarter. Imprint Wealth LLC bought a new position in shares of ResMed during the third quarter worth about $26,000. WFA of San Diego LLC bought a new position in shares of ResMed during the second quarter worth about $26,000. Finally, Sunbelt Securities Inc. bought a new position in shares of ResMed during the third quarter worth about $31,000. 54.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RMD has been the subject of a number of analyst reports. Stifel Nicolaus raised their price objective on ResMed from $260.00 to $265.00 and gave the stock a “hold” rating in a research report on Friday, January 30th. Citigroup lowered their price objective on ResMed from $345.00 to $340.00 and set a “buy” rating for the company in a research report on Thursday, April 9th. KeyCorp lowered their price objective on ResMed from $302.00 to $290.00 and set an “overweight” rating for the company in a research report on Monday, April 27th. Weiss Ratings downgraded ResMed from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 22nd. Finally, Robert W. Baird set a $225.00 price objective on ResMed in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $286.18.

Insider Buying and Selling

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $225.00, for a total value of $450,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $207.82, for a total value of $1,037,229.62. Following the completion of the sale, the chief executive officer owned 466,223 shares of the company’s stock, valued at approximately $96,890,463.86. The trade was a 1.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 18,973 shares of company stock valued at $4,386,031. 0.65% of the stock is currently owned by corporate insiders.

ResMed Trading Down 0.8%

Shares of RMD stock opened at $206.24 on Thursday. The company has a market cap of $29.92 billion, a P/E ratio of 19.89, a PEG ratio of 1.33 and a beta of 0.84. The stock has a 50 day simple moving average of $218.28 and a two-hundred day simple moving average of $240.03. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.33 and a current ratio of 3.01. ResMed Inc. has a fifty-two week low of $198.61 and a fifty-two week high of $293.81.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share for the quarter, topping analysts’ consensus estimates of $2.79 by $0.07. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. ResMed had a return on equity of 25.35% and a net margin of 27.44%.The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.37 earnings per share. Research analysts forecast that ResMed Inc. will post 11.13 earnings per share for the current year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, May 14th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Thursday, May 14th. ResMed’s payout ratio is presently 23.14%.

ResMed 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.