Arrowstreet Capital Limited Partnership Has $101.07 Million Stock Holdings in ResMed Inc. $RMD

Arrowstreet Capital Limited Partnership raised its position in ResMed Inc. (NYSE:RMD) by 64.6% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 450,250 shares of the medical equipment provider’s stock after buying an additional 176,641 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.31% of ResMed worth $101,072,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Imprint Wealth LLC acquired a new stake in ResMed during the 3rd quarter worth $26,000. WFA of San Diego LLC bought a new stake in shares of ResMed during the 2nd quarter valued at $26,000. International Assets Investment Management LLC acquired a new position in shares of ResMed in the 4th quarter valued at $25,000. ORG Partners LLC lifted its stake in shares of ResMed by 181.6% in the 4th quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 69 shares during the period. Finally, Sunbelt Securities Inc. acquired a new position in shares of ResMed in the 3rd quarter valued at $31,000. Institutional investors own 54.98% of the company’s stock.

ResMed Stock Up 1.8%

Shares of ResMed stock opened at $195.43 on Friday. The company has a market capitalization of $28.35 billion, a P/E ratio of 18.85, a price-to-earnings-growth ratio of 1.22 and a beta of 0.78. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.01 and a quick ratio of 2.33. The business has a 50-day moving average of $198.70 and a two-hundred day moving average of $224.98. ResMed Inc. has a 1 year low of $180.26 and a 1 year high of $293.81.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.79 by $0.07. ResMed had a return on equity of 25.35% and a net margin of 27.44%.The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the previous year, the business posted $2.37 EPS. ResMed’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, equities analysts predict that ResMed Inc. will post 11.14 EPS for the current year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Thursday, May 14th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.2%. The ex-dividend date was Thursday, May 14th. ResMed’s dividend payout ratio (DPR) is 23.14%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RMD. Mizuho decreased their price objective on ResMed from $235.00 to $220.00 and set an “outperform” rating for the company in a research note on Wednesday, July 15th. Robert W. Baird set a $225.00 target price on ResMed in a research note on Friday, May 1st. Citigroup restated a “neutral” rating and set a $235.00 target price (down from $270.00) on shares of ResMed in a report on Sunday, July 12th. JPMorgan Chase & Co. started coverage on ResMed in a research note on Wednesday, April 15th. They issued an “overweight” rating for the company. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of ResMed in a research report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, ResMed presently has a consensus rating of “Moderate Buy” and an average target price of $246.25.

Insiders Place Their Bets

In other news, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $218.55, for a total value of $1,090,783.05. Following the completion of the transaction, the chief executive officer owned 466,223 shares in the company, valued at $101,893,036.65. This represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 14,973 shares of company stock valued at $3,096,067 over the last 90 days. Insiders own 0.65% of the company’s stock.

ResMed Company 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.