Landscape Capital Management L.L.C. Acquires 7,128 Shares of ResMed Inc. (NYSE:RMD)

Landscape Capital Management L.L.C. grew its holdings in shares of ResMed Inc. (NYSE:RMD) by 123.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,916 shares of the medical equipment provider’s stock after purchasing an additional 7,128 shares during the quarter. Landscape Capital Management L.L.C.’s holdings in ResMed were worth $3,153,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of RMD. OFI Invest Asset Management bought a new position in ResMed during the second quarter valued at about $32,000. Ashton Thomas Securities LLC bought a new stake in shares of ResMed in the third quarter valued at approximately $34,000. Versant Capital Management Inc grew its position in ResMed by 196.7% in the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 120 shares during the last quarter. Financial Connections Group Inc. acquired a new stake in ResMed during the second quarter worth about $37,000. Finally, Blue Trust Inc. increased its position in shares of ResMed by 182.7% during the second quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock valued at $42,000 after purchasing an additional 137 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on RMD shares. Wolfe Research reiterated an “underperform” rating and set a $180.00 target price on shares of ResMed in a research report on Wednesday, September 18th. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a report on Friday, October 25th. KeyCorp raised their price objective on shares of ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Bank of America boosted their price objective on ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, Royal Bank of Canada upped their price target on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $225.70.

ResMed Price Performance

Shares of RMD stock opened at $241.55 on Thursday. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 12-month low of $150.39 and a 12-month high of $260.49. The firm has a fifty day moving average of $242.10 and a 200-day moving average of $224.10. The firm has a market capitalization of $35.46 billion, a price-to-earnings ratio of 31.99, a price-to-earnings-growth ratio of 1.73 and a beta of 0.69.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, topping the consensus estimate of $2.03 by $0.17. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the company posted $1.64 EPS. On average, equities research analysts forecast that ResMed Inc. will post 9.28 earnings per share for the current year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be issued a dividend of $0.53 per share. The ex-dividend date is Thursday, November 7th. This represents a $2.12 annualized dividend and a yield of 0.88%. ResMed’s payout ratio is presently 28.08%.

Insider Buying and Selling at ResMed

In other ResMed news, insider Kaushik Ghoshal sold 5,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $252.56, for a total transaction of $1,262,800.00. Following the completion of the sale, the insider now owns 21,788 shares of the company’s stock, valued at $5,502,777.28. This trade represents a 18.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Witte Jan De sold 796 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total transaction of $198,052.76. Following the completion of the transaction, the director now owns 6,723 shares in the company, valued at approximately $1,672,749.63. This represents a 10.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 62,174 shares of company stock worth $14,882,278 over the last ninety days. 0.71% of the stock is currently owned by corporate insiders.

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.