EntryPoint Capital LLC Takes $347,000 Position in ResMed Inc. (NYSE:RMD)

EntryPoint Capital LLC purchased a new position in shares of ResMed Inc. (NYSE:RMD) during the fourth quarter, Holdings Channel reports. The firm purchased 1,518 shares of the medical equipment provider’s stock, valued at approximately $347,000.

Several other large investors also recently bought and sold shares of RMD. Geode Capital Management LLC boosted its holdings in shares of ResMed by 10.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock worth $939,114,000 after purchasing an additional 380,383 shares during the last quarter. Los Angeles Capital Management LLC lifted its position in ResMed by 60.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 668,908 shares of the medical equipment provider’s stock worth $152,973,000 after buying an additional 250,746 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in ResMed by 726.3% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,801 shares of the medical equipment provider’s stock worth $69,281,000 after buying an additional 249,454 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in ResMed in the 4th quarter valued at $50,364,000. Finally, Nordea Investment Management AB increased its stake in shares of ResMed by 92.7% in the 4th quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider’s stock worth $103,214,000 after acquiring an additional 215,561 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Insider Activity

In related news, insider Kaushik Ghoshal sold 9,113 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the sale, the insider now directly owns 9,725 shares in the company, valued at approximately $2,289,265. This represents a 48.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total transaction of $484,220.00. Following the completion of the sale, the director now directly owns 77,218 shares in the company, valued at approximately $18,695,249.98. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,940 shares of company stock worth $9,164,385. Corporate insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RMD. UBS Group raised shares of ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. The Goldman Sachs Group assumed coverage on shares of ResMed in a report on Thursday, January 16th. They set a “buy” rating for the company. JPMorgan Chase & Co. upped their price objective on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Citigroup raised ResMed from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 5th. Finally, Morgan Stanley assumed coverage on ResMed in a research note on Wednesday, March 19th. They issued an “overweight” rating and a $280.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, ResMed presently has an average rating of “Moderate Buy” and a consensus target price of $246.83.

ResMed Stock Performance

NYSE RMD opened at $221.90 on Thursday. 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 $32.59 billion, a P/E ratio of 26.20, a P/E/G ratio of 1.53 and a beta of 0.74. The stock has a 50-day moving average of $234.39 and a two-hundred day moving average of $238.55. ResMed Inc. has a 1-year low of $172.19 and a 1-year high of $263.05.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. As a group, analysts anticipate that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date was Thursday, February 13th. 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.