Semanteon Capital Management LP Grows Stake in ResMed Inc. (NYSE:RMD)

Semanteon Capital Management LP grew its holdings in shares of ResMed Inc. (NYSE:RMD) by 5.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,140 shares of the medical equipment provider’s stock after buying an additional 243 shares during the period. Semanteon Capital Management LP’s holdings in ResMed were worth $1,175,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RMD. GSA Capital Partners LLP purchased a new position in shares of ResMed during the 3rd quarter worth approximately $410,000. OneDigital Investment Advisors LLC grew its stake in ResMed by 4.1% in the third quarter. OneDigital Investment Advisors LLC now owns 2,558 shares of the medical equipment provider’s stock worth $624,000 after purchasing an additional 100 shares during the period. Empowered Funds LLC raised its holdings in ResMed by 284.3% in the third quarter. Empowered Funds LLC now owns 8,208 shares of the medical equipment provider’s stock worth $2,004,000 after purchasing an additional 6,072 shares in the last quarter. Natixis Advisors LLC lifted its position in ResMed by 31.9% during the third quarter. Natixis Advisors LLC now owns 51,498 shares of the medical equipment provider’s stock valued at $12,572,000 after buying an additional 12,445 shares during the period. Finally, Thrivent Financial for Lutherans grew its position in shares of ResMed by 12.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 6,952 shares of the medical equipment provider’s stock worth $1,697,000 after buying an additional 755 shares during the period. Institutional investors own 54.98% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RMD. JPMorgan Chase & Co. lifted their price target on shares of ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research note on Saturday, March 15th. Morgan Stanley started coverage on ResMed in a research report on Wednesday. They issued an “overweight” rating and a $280.00 price target for the company. Piper Sandler increased their price objective on shares of ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Finally, Citigroup raised shares of ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $246.83.

ResMed Trading Down 0.4 %

Shares of RMD stock opened at $221.13 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The company has a market cap of $32.48 billion, a price-to-earnings ratio of 26.11, a PEG ratio of 1.53 and a beta of 0.74. ResMed Inc. has a 1 year low of $172.19 and a 1 year high of $263.05. The firm has a fifty day moving average price of $235.19 and a 200-day moving average price of $239.24.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, topping 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%. As a group, equities analysts predict that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend was Thursday, February 13th. ResMed’s payout ratio is 25.03%.

Insider Buying and Selling at ResMed

In related news, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 455,472 shares in the company, valued at approximately $107,842,105.44. This trade represents a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, February 5th. The shares were 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. Insiders have sold 38,940 shares of company stock valued at $9,164,385 over the last 90 days. 0.71% of the stock is currently 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.