Landscape Capital Management L.L.C. Makes New $5.62 Million Investment in ResMed Inc. $RMD

Landscape Capital Management L.L.C. purchased a new stake in shares of ResMed Inc. (NYSE:RMD) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 28,834 shares of the medical equipment provider’s stock, valued at approximately $5,619,000.

A number of other hedge funds have also bought and sold shares of RMD. Terra Nova Asset Management LLC lifted its stake in shares of ResMed by 0.6% during the third quarter. Terra Nova Asset Management LLC now owns 7,805 shares of the medical equipment provider’s stock worth $2,136,000 after buying an additional 46 shares during the period. Kera Capital Partners Inc. grew its holdings in shares of ResMed by 6.6% during the fourth quarter. Kera Capital Partners Inc. now owns 841 shares of the medical equipment provider’s stock valued at $217,000 after buying an additional 52 shares during the last quarter. Andina Capital Management LLC increased its position in shares of ResMed by 2.9% in the 4th quarter. Andina Capital Management LLC now owns 1,988 shares of the medical equipment provider’s stock valued at $479,000 after acquiring an additional 56 shares during the period. Turtle Creek Wealth Advisors LLC increased its position in shares of ResMed by 6.2% in the 1st quarter. Turtle Creek Wealth Advisors LLC now owns 994 shares of the medical equipment provider’s stock valued at $223,000 after acquiring an additional 58 shares during the period. Finally, Inspire Investing LLC raised its stake in ResMed by 7.9% in the 4th quarter. Inspire Investing LLC now owns 902 shares of the medical equipment provider’s stock worth $217,000 after acquiring an additional 66 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Transactions at ResMed

In other news, Director Peter C. Farrell sold 8,000 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $225.00, for a total value of $1,800,000.00. Following the completion of the transaction, the director owned 52,773 shares of the company’s stock, valued at $11,873,925. The trade was a 13.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $205.69, for a total value of $1,026,598.79. Following the completion of the sale, the chief executive officer owned 466,256 shares in the company, valued at $95,904,196.64. The trade was a 1.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 22,973 shares of company stock valued at $4,885,436 in the last quarter. Company insiders own 0.65% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on RMD shares. Rothschild & Co Redburn initiated coverage on ResMed in a research report on Wednesday. They set a “neutral” rating and a $230.00 price target for the company. Mizuho cut their price objective on ResMed from $235.00 to $220.00 and set an “outperform” rating on the stock in a report on Wednesday, July 15th. Piper Sandler cut their price objective on ResMed from $233.00 to $225.00 and set a “neutral” rating on the stock in a report on Friday, August 7th. KeyCorp reduced their price objective on ResMed from $260.00 to $255.00 and set an “overweight” rating for the company in a research note on Friday, August 7th. Finally, UBS Group reaffirmed a “buy” rating and set a $300.00 target price on shares of ResMed in a report on Tuesday, July 21st. Seven investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $239.38.

ResMed Stock Up 1.4%

NYSE:RMD opened at $231.62 on Friday. The firm has a market capitalization of $33.41 billion, a P/E ratio of 22.21, a PEG ratio of 1.43 and a beta of 0.76. ResMed Inc. has a 1-year low of $180.26 and a 1-year high of $293.81. The company’s fifty day moving average price is $207.22 and its 200-day moving average price is $220.07. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.10 and a quick ratio of 2.42.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, August 6th. The medical equipment provider reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $0.06. The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.46 billion. ResMed had a net margin of 26.94% and a return on equity of 25.58%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.55 earnings per share. As a group, equities research analysts anticipate that ResMed Inc. will post 12.03 EPS for the current year.

ResMed Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, August 20th will be paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Thursday, August 20th. This is an increase from ResMed’s previous quarterly dividend of $0.60. ResMed’s dividend payout ratio (DPR) is 25.31%.

ResMed Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.