Quantinno Capital Management LP Buys 80,061 Shares of ResMed Inc. $RMD

Quantinno Capital Management LP boosted its stake in ResMed Inc. (NYSE:RMD) by 66.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 200,036 shares of the medical equipment provider’s stock after buying an additional 80,061 shares during the quarter. Quantinno Capital Management LP owned approximately 0.14% of ResMed worth $44,904,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of RMD. International Assets Investment Management LLC bought a new position in shares of ResMed during the fourth quarter valued at $25,000. ORG Partners LLC grew its holdings in shares of ResMed by 181.6% in the 4th quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock worth $26,000 after purchasing an additional 69 shares during the last quarter. Imprint Wealth LLC bought a new stake in shares of ResMed in the 3rd quarter worth about $26,000. WFA of San Diego LLC bought a new stake in shares of ResMed in the 2nd quarter worth about $26,000. Finally, Sunbelt Securities Inc. acquired a new stake in shares of ResMed during the 3rd quarter worth about $31,000. 54.98% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $218.55, for a total transaction of $1,090,783.05. Following the sale, the chief executive officer directly owned 466,223 shares of the company’s stock, valued at $101,893,036.65. This represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 14,973 shares of company stock worth $3,096,067 in the last quarter. 0.65% of the stock is currently owned by corporate insiders.

ResMed Stock Up 2.6%

Shares of NYSE RMD opened at $214.36 on Thursday. ResMed Inc. has a 12-month low of $180.26 and a 12-month high of $293.81. The firm’s 50-day simple moving average is $198.80 and its 200 day simple moving average is $223.98. The company has a quick ratio of 2.33, a current ratio of 3.01 and a debt-to-equity ratio of 0.06. The company has a market cap of $31.09 billion, a price-to-earnings ratio of 20.67, a price-to-earnings-growth ratio of 1.27 and a beta of 0.78.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.79 by $0.07. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter last year, the company posted $2.37 EPS. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. On average, research analysts expect that ResMed Inc. will post 11.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on RMD shares. KeyCorp cut their price target on shares of ResMed from $290.00 to $266.00 and set an “overweight” rating for the company in a report on Monday, June 22nd. UBS Group reaffirmed a “buy” rating and set a $300.00 price objective on shares of ResMed in a research note on Tuesday, July 21st. Wells Fargo & Company cut their target price on shares of ResMed from $227.00 to $225.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 8th. Mizuho reduced their target price on ResMed from $235.00 to $220.00 and set an “outperform” rating on the stock in a report on Wednesday, July 15th. Finally, Morgan Stanley restated an “equal weight” rating and set a $230.00 price target (down from $286.00) on shares of ResMed in a research report on Wednesday, June 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, ResMed presently has an average rating of “Moderate Buy” and an average target price of $246.25.

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.