Hara Capital LLC Makes New $227,000 Investment in ResMed Inc. (NYSE:RMD)

Hara Capital LLC bought a new stake in shares of ResMed Inc. (NYSE:RMD) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 930 shares of the medical equipment provider’s stock, valued at approximately $227,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of RMD. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in ResMed by 24.9% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,083 shares of the medical equipment provider’s stock valued at $35,068,000 after acquiring an additional 35,273 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of ResMed by 8.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 171,632 shares of the medical equipment provider’s stock valued at $37,586,000 after purchasing an additional 13,894 shares during the period. SG Americas Securities LLC grew its holdings in shares of ResMed by 211.1% in the first quarter. SG Americas Securities LLC now owns 19,625 shares of the medical equipment provider’s stock worth $3,886,000 after purchasing an additional 13,316 shares during the last quarter. iA Global Asset Management Inc. purchased a new position in ResMed in the 1st quarter worth about $3,055,000. Finally, Versor Investments LP lifted its holdings in ResMed by 327.3% during the 2nd quarter. Versor Investments LP now owns 4,700 shares of the medical equipment provider’s stock valued at $900,000 after buying an additional 3,600 shares in the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

ResMed Stock Down 0.1 %

NYSE:RMD traded down $0.31 during midday trading on Thursday, reaching $245.32. 69,360 shares of the stock traded hands, compared to its average volume of 1,048,091. The stock has a market capitalization of $36.01 billion, a PE ratio of 32.53, a price-to-earnings-growth ratio of 1.78 and a beta of 0.69. ResMed Inc. has a 12-month low of $140.81 and a 12-month high of $260.49. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92. The business has a 50-day moving average of $243.12 and a two-hundred day moving average of $221.39.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, beating the consensus estimate of $2.03 by $0.17. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the business posted $1.64 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, equities analysts forecast that ResMed Inc. will post 9.22 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be paid a dividend of $0.53 per share. The ex-dividend date is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.86%. ResMed’s payout ratio is 28.08%.

Insider Activity

In related news, insider Kaushik Ghoshal sold 5,000 shares of ResMed stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $252.56, for a total value of $1,262,800.00. Following the completion of the sale, the insider now directly owns 21,788 shares in the company, valued at $5,502,777.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Brett Sandercock sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $246.42, for a total value of $246,420.00. Following the sale, the chief financial officer now owns 96,812 shares in the company, valued at $23,856,413.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kaushik Ghoshal sold 5,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $252.56, for a total transaction of $1,262,800.00. Following the completion of the transaction, the insider now owns 21,788 shares in the company, valued at approximately $5,502,777.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 60,260 shares of company stock worth $14,390,487 over the last 90 days. 0.71% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

RMD has been the topic of a number of research reports. Royal Bank of Canada raised their target price on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Robert W. Baird raised their price objective on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. KeyCorp upped their target price on ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Bank of America raised their price target on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.70.

ResMed Profile

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.