Olympiad Research LP Makes New $328,000 Investment in ResMed Inc. (NYSE:RMD)

Olympiad Research LP purchased a new position in shares of ResMed Inc. (NYSE:RMD) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,435 shares of the medical equipment provider’s stock, valued at approximately $328,000.

A number of other institutional investors also recently bought and sold shares of the business. Ascent Group LLC increased its position in shares of ResMed by 1.7% during the third quarter. Ascent Group LLC now owns 2,924 shares of the medical equipment provider’s stock worth $714,000 after purchasing an additional 48 shares in the last quarter. SkyView Investment Advisors LLC increased its position in shares of ResMed by 2.0% during the third quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider’s stock worth $637,000 after purchasing an additional 51 shares in the last quarter. Wedmont Private Capital increased its position in shares of ResMed by 2.6% during the fourth quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider’s stock worth $475,000 after purchasing an additional 52 shares in the last quarter. Concurrent Investment Advisors LLC increased its position in shares of ResMed by 3.1% during the third quarter. Concurrent Investment Advisors LLC now owns 1,919 shares of the medical equipment provider’s stock worth $469,000 after purchasing an additional 57 shares in the last quarter. Finally, Brooklyn Investment Group increased its position in shares of ResMed by 8.1% during the fourth quarter. Brooklyn Investment Group now owns 911 shares of the medical equipment provider’s stock worth $208,000 after purchasing an additional 68 shares in the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RMD has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their target price on ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. The Goldman Sachs Group initiated coverage on ResMed in a research report on Thursday, January 16th. They set a “buy” rating on the stock. UBS Group upgraded ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. KeyCorp boosted their price target on ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Piper Sandler boosted their price target on ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $244.73.

ResMed Price Performance

Shares of RMD opened at $231.61 on Friday. ResMed Inc. has a twelve month low of $170.56 and a twelve month high of $263.05. The stock’s 50 day moving average is $237.43 and its two-hundred day moving average is $239.22. The firm has a market capitalization of $34.02 billion, a PE ratio of 27.34, a P/E/G ratio of 1.53 and a beta of 0.70. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. Research analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s dividend payout ratio is presently 25.03%.

Insider Buying and Selling at ResMed

In other news, CEO Michael J. Farrell sold 8,009 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the sale, the chief executive officer now owns 455,472 shares of the company’s stock, valued at $107,842,105.44. The trade was a 1.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total value of $484,220.00. Following the sale, the director now directly owns 77,218 shares in the company, valued at $18,695,249.98. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,147 shares of company stock valued at $2,905,745. 0.71% of the stock is owned by corporate insiders.

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.