Aquatic Capital Management LLC Buys 12,642 Shares of ResMed Inc. $RMD

Aquatic Capital Management LLC raised its stake in ResMed Inc. (NYSE:RMD) by 106.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,564 shares of the medical equipment provider’s stock after acquiring an additional 12,642 shares during the quarter. Aquatic Capital Management LLC’s holdings in ResMed were worth $6,724,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Jones Financial Companies Lllp boosted its holdings in ResMed by 52.6% during the first quarter. Jones Financial Companies Lllp now owns 2,882 shares of the medical equipment provider’s stock worth $645,000 after buying an additional 994 shares during the last quarter. Allworth Financial LP raised its position in shares of ResMed by 53.0% in the 2nd quarter. Allworth Financial LP now owns 1,082 shares of the medical equipment provider’s stock valued at $279,000 after acquiring an additional 375 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in ResMed by 7.1% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 35,961 shares of the medical equipment provider’s stock worth $9,278,000 after acquiring an additional 2,374 shares during the last quarter. Meridian Wealth Management LLC grew its holdings in ResMed by 12.0% during the second quarter. Meridian Wealth Management LLC now owns 1,516 shares of the medical equipment provider’s stock valued at $391,000 after purchasing an additional 163 shares during the period. Finally, SG Americas Securities LLC grew its holdings in ResMed by 75.0% during the second quarter. SG Americas Securities LLC now owns 8,343 shares of the medical equipment provider’s stock valued at $2,152,000 after purchasing an additional 3,576 shares during the period. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Trading Down 0.6%

Shares of ResMed stock opened at $231.00 on Monday. The stock has a market cap of $33.65 billion, a P/E ratio of 22.85, a P/E/G ratio of 1.53 and a beta of 0.88. ResMed Inc. has a 12-month low of $199.92 and a 12-month high of $293.81. The business’s 50 day moving average is $255.05 and its 200-day moving average is $258.20. The company has a quick ratio of 2.32, a current ratio of 3.06 and a debt-to-equity ratio of 0.06.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, January 29th. The medical equipment provider reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.13. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter last year, the company posted $2.43 earnings per share. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. Equities research analysts predict that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Thursday, February 12th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Thursday, February 12th. ResMed’s payout ratio is 23.74%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RMD. Citigroup raised their price objective on ResMed from $330.00 to $345.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. UBS Group restated a “buy” rating and set a $345.00 price objective on shares of ResMed in a report on Friday, December 12th. Wall Street Zen cut shares of ResMed from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings raised shares of ResMed from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. Finally, Wells Fargo & Company increased their price objective on ResMed from $265.00 to $270.00 and gave the stock an “equal weight” rating in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $299.27.

Insiders Place Their Bets

In other news, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $248.46, for a total transaction of $1,240,063.86. Following the completion of the sale, the chief executive officer owned 466,223 shares in the company, valued at approximately $115,837,766.58. This trade represents a 1.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $260.22, for a total transaction of $520,440.00. Following the sale, the director directly owned 62,773 shares of the company’s stock, valued at $16,334,790.06. The trade was a 3.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 21,073 shares of company stock valued at $5,405,198. Company insiders own 0.65% of the company’s stock.

About ResMed

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.