Dynamic Technology Lab Private Ltd Purchases 7,165 Shares of ResMed Inc. (NYSE:RMD)

Dynamic Technology Lab Private Ltd raised its position in shares of ResMed Inc. (NYSE:RMD) by 533.1% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,509 shares of the medical equipment provider’s stock after purchasing an additional 7,165 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in ResMed were worth $2,077,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. iA Global Asset Management Inc. bought a new position in shares of ResMed during the first quarter valued at $3,055,000. Versor Investments LP boosted its holdings in shares of ResMed by 327.3% during the 2nd quarter. Versor Investments LP now owns 4,700 shares of the medical equipment provider’s stock valued at $900,000 after acquiring an additional 3,600 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of ResMed by 245.2% in the second quarter. Assenagon Asset Management S.A. now owns 33,507 shares of the medical equipment provider’s stock worth $6,414,000 after acquiring an additional 23,801 shares during the period. Addenda Capital Inc. raised its holdings in shares of ResMed by 17.4% during the second quarter. Addenda Capital Inc. now owns 58,986 shares of the medical equipment provider’s stock valued at $11,291,000 after purchasing an additional 8,747 shares during the last quarter. Finally, Retireful LLC bought a new position in ResMed during the third quarter valued at approximately $742,000. 54.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RMD has been the subject of a number of research analyst reports. Wolfe Research reaffirmed an “underperform” rating and issued a $180.00 target price on shares of ResMed in a research report on Wednesday, September 18th. Bank of America lifted their price objective on ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Royal Bank of Canada increased their target price on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Robert W. Baird boosted their price target on ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $225.70.

ResMed Trading Up 2.4 %

ResMed stock opened at $249.68 on Tuesday. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 12-month low of $151.95 and a 12-month high of $260.49. The firm has a market capitalization of $36.65 billion, a price-to-earnings ratio of 33.07, a P/E/G ratio of 1.77 and a beta of 0.69. The firm has a 50 day moving average of $241.82 and a 200 day moving average of $224.79.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, beating 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 company’s revenue was up 11.1% on a year-over-year basis. During the same period last year, the firm earned $1.64 EPS. As a group, research analysts predict that ResMed Inc. will post 9.28 earnings per share for the current year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders 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 annualized dividend and a dividend yield of 0.85%. ResMed’s payout ratio is 28.08%.

Insider Transactions at ResMed

In related news, insider Kaushik Ghoshal sold 5,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $252.56, for a total transaction of $1,262,800.00. Following the completion of the transaction, the insider now directly owns 21,788 shares of the company’s stock, valued at approximately $5,502,777.28. This trade represents a 18.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $248.38, for a total transaction of $3,646,963.54. Following the completion of the sale, the chief executive officer now owns 464,169 shares in the company, valued at approximately $115,290,296.22. The trade was a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,334 shares of company stock valued at $16,379,713 over the last 90 days. Company insiders own 0.71% of the company’s stock.

About ResMed

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.