Pallas Capital Advisors LLC Purchases 751 Shares of ResMed Inc. (NYSE:RMD)

Pallas Capital Advisors LLC boosted its holdings in ResMed Inc. (NYSE:RMD) by 37.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,768 shares of the medical equipment provider’s stock after acquiring an additional 751 shares during the quarter. Pallas Capital Advisors LLC’s holdings in ResMed were worth $633,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Marshall Wace LLP purchased a new stake in shares of ResMed in the second quarter worth approximately $77,285,000. Geode Capital Management LLC grew its holdings in ResMed by 10.9% during 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 buying an additional 380,383 shares in the last quarter. Greenvale Capital LLP raised its position in ResMed by 61.1% in the 2nd quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock valued at $138,780,000 after buying an additional 275,000 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake 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 valued at $69,281,000 after acquiring an additional 249,454 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in ResMed during the 2nd quarter worth $42,036,000. Institutional investors own 54.98% of the company’s stock.

Insider Activity

In related news, Director Witte Jan De sold 796 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total transaction of $198,052.76. Following the sale, the director now owns 6,723 shares of the company’s stock, valued at approximately $1,672,749.63. This represents a 10.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Justin Leong sold 6,160 shares of ResMed stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $243.09, for a total value of $1,497,434.40. Following the transaction, the insider now directly owns 21,718 shares of the company’s stock, valued at $5,279,428.62. The trade was a 22.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,099 shares of company stock valued at $2,719,385 over the last quarter. Company insiders own 0.71% of the company’s stock.

ResMed Stock Performance

NYSE:RMD opened at $228.61 on Wednesday. The company has a market capitalization of $33.56 billion, a P/E ratio of 30.28, a P/E/G ratio of 1.73 and a beta of 0.70. The business has a fifty day simple moving average of $239.24 and a two-hundred day simple moving average of $232.06. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. ResMed Inc. has a 1 year low of $168.29 and a 1 year high of $260.49.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping 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 company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the company earned $1.64 EPS. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, analysts expect that ResMed Inc. will post 9.34 earnings per share for the current year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.93%. The ex-dividend date was Thursday, November 7th. ResMed’s dividend payout ratio (DPR) is currently 28.08%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. KeyCorp increased their target price on shares of ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Baird R W upgraded shares of ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. Royal Bank of Canada lifted 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. Wolfe Research reaffirmed an “underperform” rating and issued a $180.00 target price on shares of ResMed in a report on Wednesday, September 18th. Finally, Robert W. Baird lifted their price target on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $233.09.

ResMed Company 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.