Graham Capital Management L.P. Buys 13,801 Shares of ResMed Inc. $RMD

Graham Capital Management L.P. increased its stake in ResMed Inc. (NYSE:RMD) by 179.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,477 shares of the medical equipment provider’s stock after purchasing an additional 13,801 shares during the period. Graham Capital Management L.P.’s holdings in ResMed were worth $5,173,000 as of its most recent SEC filing.

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

Insider Buying and Selling at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total value of $450,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $193.96, for a total transaction of $968,054.36. Following the completion of the transaction, the chief executive officer directly owned 466,256 shares of the company’s stock, valued at $90,435,013.76. This trade represents a 1.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 16,973 shares of company stock valued at $3,580,754 in the last three months. 0.65% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have commented on RMD. Wall Street Zen lowered shares of ResMed from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Weiss Ratings lowered shares of ResMed from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 22nd. Robert W. Baird set a $225.00 target price on shares of ResMed in a report on Friday, May 1st. Evercore set a $255.00 target price on ResMed and gave the stock an “outperform” rating in a report on Monday, April 13th. Finally, Royal Bank Of Canada raised their target price on ResMed from $314.00 to $321.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, ResMed presently has an average rating of “Moderate Buy” and an average target price of $279.82.

ResMed Price Performance

Shares of RMD opened at $194.13 on Wednesday. The company has a current ratio of 3.01, a quick ratio of 2.33 and a debt-to-equity ratio of 0.06. ResMed Inc. has a 1 year low of $180.26 and a 1 year high of $293.81. The stock has a market cap of $28.16 billion, a P/E ratio of 18.72, a price-to-earnings-growth ratio of 1.23 and a beta of 0.80. The stock’s 50-day moving average price is $209.09 and its two-hundred day moving average price is $234.41.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.07. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the previous year, the business earned $2.37 EPS. The firm’s revenue was up 10.8% on a year-over-year basis. On average, equities analysts predict that ResMed Inc. will post 11.13 earnings per share for the current year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $2.40 annualized dividend and a dividend yield of 1.2%. ResMed’s payout ratio is 23.14%.

ResMed 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.