Dark Forest Capital Management LP Purchases 1,257 Shares of ResMed Inc. (NYSE:RMD)

Dark Forest Capital Management LP boosted its position in ResMed Inc. (NYSE:RMD) by 122.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,285 shares of the medical equipment provider’s stock after buying an additional 1,257 shares during the quarter. Dark Forest Capital Management LP’s holdings in ResMed were worth $523,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new position in shares of ResMed during the 4th quarter worth about $39,000. BankPlus Trust Department acquired a new position in shares of ResMed during the fourth quarter worth approximately $44,000. Rosenberg Matthew Hamilton bought a new stake in shares of ResMed in the fourth quarter valued at approximately $54,000. SBI Securities Co. Ltd. bought a new position in ResMed during the fourth quarter worth $67,000. Finally, Kentucky Trust Co acquired a new position in ResMed during the 4th quarter valued at $82,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Activity at ResMed

In other news, insider Kaushik Ghoshal sold 9,113 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the completion of the sale, the insider now owns 9,725 shares in the company, valued at $2,289,265. The trade was a 48.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael J. Farrell sold 8,009 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $236.77, for a total value of $1,896,290.93. Following the transaction, the chief executive officer now directly owns 455,472 shares in the company, valued at $107,842,105.44. This trade represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,013 shares of company stock valued at $11,298,816 over the last quarter. Corporate insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

RMD has been the subject of a number of research analyst reports. StockNews.com lowered shares of ResMed from a “buy” rating to a “hold” rating in a research report on Thursday. The Goldman Sachs Group began coverage on ResMed in a research report on Thursday, January 16th. They issued a “buy” rating for the company. Piper Sandler cut their target price on ResMed from $260.00 to $248.00 and set a “neutral” rating for the company in a research note on Thursday. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research note on Friday, January 31st. Finally, KeyCorp set a $274.00 price objective on shares of ResMed in a research note on Thursday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $254.31.

ResMed Trading Down 0.1 %

Shares of RMD opened at $235.79 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. The company has a market cap of $34.63 billion, a price-to-earnings ratio of 27.84, a PEG ratio of 1.53 and a beta of 0.75. The stock has a fifty day moving average price of $221.92 and a two-hundred day moving average price of $234.05. ResMed Inc. has a 52-week low of $179.42 and a 52-week high of $263.05.

ResMed (NYSE:RMD) last released its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.37. The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.28 billion. ResMed had a return on equity of 26.17% and a net margin of 25.34%. Analysts predict that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 8th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date is Thursday, May 8th. ResMed’s dividend payout ratio is currently 25.03%.

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.