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

EntryPoint Capital LLC bought a new position in shares of ResMed Inc. (NYSE:RMD) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 1,518 shares of the medical equipment provider’s stock, valued at approximately $347,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its holdings in ResMed by 10.9% in the third quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock worth $939,114,000 after acquiring an additional 380,383 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in 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 worth $152,973,000 after purchasing an additional 250,746 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in ResMed by 726.3% during the 3rd 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 purchasing an additional 249,454 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in ResMed during the 4th quarter valued at approximately $50,364,000. Finally, Nordea Investment Management AB raised its holdings in shares of ResMed by 92.7% in the fourth quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider’s stock worth $103,214,000 after buying an additional 215,561 shares during the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Stock Up 0.3 %

RMD stock opened at $221.90 on Thursday. ResMed Inc. has a one year low of $172.19 and a one year high of $263.05. 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 firm’s fifty day moving average is $234.39 and its 200 day moving average is $238.55. The firm has a market cap of $32.59 billion, a PE ratio of 26.20, a P/E/G ratio of 1.53 and a beta of 0.74.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, beating 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%. On average, research analysts forecast that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend was Thursday, February 13th. ResMed’s payout ratio is 25.03%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RMD. KeyCorp boosted their price objective on shares of ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, January 31st. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a report on Tuesday. Stifel Nicolaus decreased their target price on ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a report on Wednesday, March 5th. UBS Group upgraded shares of ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Finally, Morgan Stanley assumed coverage on shares of ResMed in a research note on Wednesday, March 19th. They set an “overweight” rating and a $280.00 price objective for the company. One analyst has rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, ResMed presently has a consensus rating of “Moderate Buy” and an average price target of $246.83.

Insider Activity

In related news, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $107,842,105.44. This trade represents a 1.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $227.71, for a total value of $455,420.00. Following the sale, the director now owns 75,218 shares of the company’s stock, valued at approximately $17,127,890.78. This trade represents a 2.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,940 shares of company stock worth $9,164,385 in the last quarter. Corporate insiders own 0.71% of the company’s stock.

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.