Renaissance Technologies LLC Acquires 163,700 Shares of ResMed Inc. (NYSE:RMD)

Renaissance Technologies LLC raised its holdings in ResMed Inc. (NYSE:RMD) by 194.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 247,700 shares of the medical equipment provider’s stock after purchasing an additional 163,700 shares during the quarter. Renaissance Technologies LLC owned approximately 0.17% of ResMed worth $56,647,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of RMD. Invesco Ltd. increased its stake in shares of ResMed by 32.2% in the 4th quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider’s stock valued at $531,706,000 after buying an additional 566,046 shares during the period. Norges Bank acquired a new stake in shares of ResMed in the 4th quarter valued at $118,605,000. Geode Capital Management LLC increased its stake in shares of ResMed by 10.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock valued at $939,114,000 after buying an additional 380,383 shares during the period. Los Angeles Capital Management LLC increased its stake in shares of ResMed by 60.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 668,908 shares of the medical equipment provider’s stock valued at $152,973,000 after buying an additional 250,746 shares during the period. Finally, Proficio Capital Partners LLC acquired a new stake in shares of ResMed in the 4th quarter valued at $50,364,000. 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 stock in a transaction dated 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 represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 sale, the chief executive officer now owns 455,472 shares of the company’s stock, valued at approximately $107,842,105.44. This represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,013 shares of company stock worth $11,298,816 over the last three months. Company insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RMD. Morgan Stanley began coverage on ResMed in a research note on Wednesday, March 19th. They set an “overweight” rating and a $280.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. UBS Group raised ResMed from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. KeyCorp boosted their target price on ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, ResMed currently has an average rating of “Moderate Buy” and an average target price of $249.73.

ResMed Trading Up 5.9 %

NYSE:RMD opened at $216.70 on Thursday. ResMed Inc. has a 12 month low of $172.19 and a 12 month high of $263.05. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The firm’s 50 day moving average is $226.80 and its 200 day moving average is $235.88. The stock has a market capitalization of $31.83 billion, a PE ratio of 25.58, a price-to-earnings-growth ratio of 1.53 and a beta of 0.75.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. Sell-side analysts expect that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 0.98%. ResMed’s payout ratio is 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.