WINTON GROUP Ltd Acquires New Holdings in ResMed Inc. $RMD

WINTON GROUP Ltd bought a new position in ResMed Inc. (NYSE:RMD) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 7,900 shares of the medical equipment provider’s stock, valued at approximately $1,540,000.

A number of other large investors have also recently added to or reduced their stakes in RMD. American Capital Management Inc. acquired a new position in ResMed in the 2nd quarter valued at $44,522,000. Hsbc Holdings PLC lifted its position in ResMed by 17.6% during the 4th quarter. Hsbc Holdings PLC now owns 328,785 shares of the medical equipment provider’s stock worth $79,321,000 after acquiring an additional 49,253 shares during the last quarter. BlackRock Inc. acquired a new position in ResMed during the 2nd quarter worth $2,400,375,000. Goldman Sachs Group Inc. boosted its holdings in ResMed by 13.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 979,087 shares of the medical equipment provider’s stock valued at $235,833,000 after acquiring an additional 118,296 shares during the period. Finally, Polymer Capital Management HK LTD bought a new stake in ResMed during the second quarter valued at about $972,000. Institutional investors own 54.98% of the company’s stock.

Insider Buying and Selling

In related news, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $222.44, for a total value of $1,110,198.04. Following the completion of the transaction, the chief executive officer directly owned 466,256 shares in the company, valued at approximately $103,713,984.64. This represents a 1.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 970 shares of the company’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $234.73, for a total value of $227,688.10. Following the completion of the transaction, the director owned 51,803 shares of the company’s stock, valued at $12,159,718.19. The trade was a 1.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 23,943 shares of company stock valued at $5,255,268 in the last quarter. Corporate insiders own 0.65% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Weiss Ratings upgraded ResMed from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. UBS Group restated a “buy” rating and set a $300.00 target price on shares of ResMed in a research note on Tuesday, July 21st. KeyCorp increased their target price on ResMed from $255.00 to $267.00 and gave the company an “overweight” rating in a research note on Monday, August 31st. Royal Bank Of Canada raised their target price on ResMed from $234.00 to $244.00 and gave the company a “sector perform” rating in a report on Friday, August 7th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $230.00 price target (down from $286.00) on shares of ResMed in a research report on Wednesday, June 17th. Six equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $240.31.

ResMed Stock Performance

NYSE RMD opened at $218.28 on Friday. The company’s fifty day moving average is $217.39 and its two-hundred day moving average is $217.00. ResMed Inc. has a 52-week low of $180.26 and a 52-week high of $284.87. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.10 and a quick ratio of 2.42. The firm has a market capitalization of $31.49 billion, a price-to-earnings ratio of 20.93, a P/E/G ratio of 1.38 and a beta of 0.77.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, August 6th. The medical equipment provider reported $2.95 EPS for the quarter, beating analysts’ consensus estimates of $2.89 by $0.06. ResMed had a net margin of 26.94% and a return on equity of 25.58%. The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the prior year, the business earned $2.55 earnings per share. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. Equities research analysts forecast that ResMed Inc. will post 12.02 EPS for the current year.

ResMed Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, August 20th will be issued a $0.66 dividend. This is a positive change from ResMed’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $2.64 annualized dividend and a yield of 1.2%. ResMed’s payout ratio is currently 25.31%.

ResMed Profile

ResMed Inc is a medical equipment and software company that develops products and services for the diagnosis and treatment of sleep-disordered breathing and other respiratory conditions. Its offerings include continuous positive airway pressure (CPAP) and other positive airway pressure devices, masks, ventilation systems, oxygen-related solutions, and connected health technologies.

The company also provides cloud-based software and digital health platforms that help clinicians, home medical equipment providers, and patients monitor therapy, manage equipment, and support adherence to treatment.