Cognios Beta Neutral Large Cap Fund LP Has $415,000 Stock Position in ResMed Inc. (NYSE:RMD)

Cognios Beta Neutral Large Cap Fund LP increased its position in shares of ResMed Inc. (NYSE:RMD) by 7.8% in the fourth quarter, HoldingsChannel reports. The firm owned 2,411 shares of the medical equipment provider’s stock after purchasing an additional 174 shares during the period. Cognios Beta Neutral Large Cap Fund LP’s holdings in ResMed were worth $415,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Handelsbanken Fonder AB increased its position in shares of ResMed by 22.5% during the 4th quarter. Handelsbanken Fonder AB now owns 70,272 shares of the medical equipment provider’s stock worth $12,088,000 after purchasing an additional 12,899 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in ResMed by 13.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,231 shares of the medical equipment provider’s stock valued at $7,781,000 after acquiring an additional 5,517 shares in the last quarter. Vaughan David Investments LLC IL acquired a new stake in ResMed in the 4th quarter valued at about $29,322,000. International Assets Investment Management LLC increased its position in ResMed by 11,960.3% in the 4th quarter. International Assets Investment Management LLC now owns 22,191 shares of the medical equipment provider’s stock valued at $3,817,000 after acquiring an additional 22,007 shares in the last quarter. Finally, Synergy Asset Management LLC increased its position in ResMed by 29.2% in the 4th quarter. Synergy Asset Management LLC now owns 69,383 shares of the medical equipment provider’s stock valued at $11,935,000 after acquiring an additional 15,663 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Trading Down 0.3 %

ResMed stock traded down $0.48 during midday trading on Wednesday, hitting $183.74. 973,427 shares of the stock were exchanged, compared to its average volume of 1,013,908. The company has a fifty day simple moving average of $186.24 and a two-hundred day simple moving average of $171.30. ResMed Inc. has a 52 week low of $132.24 and a 52 week high of $243.52. The stock has a market capitalization of $27.03 billion, a PE ratio of 30.44, a P/E/G ratio of 2.21 and a beta of 0.67. The company has a quick ratio of 1.89, a current ratio of 3.11 and a debt-to-equity ratio of 0.27.

ResMed (NYSE:RMD) last released its quarterly earnings data on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.81 by $0.07. ResMed had a net margin of 19.77% and a return on equity of 23.86%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the firm earned $1.66 EPS. ResMed’s quarterly revenue was up 12.5% compared to the same quarter last year. Equities research analysts anticipate that ResMed Inc. will post 7.47 EPS for the current fiscal year.

Insider Buying and Selling

In other ResMed news, General Counsel Michael J. Rider sold 200 shares of ResMed stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $173.25, for a total value of $34,650.00. Following the transaction, the general counsel now owns 6,688 shares of the company’s stock, valued at $1,158,696. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other ResMed news, Director Peter C. Farrell sold 10,935 shares of ResMed stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value of $1,997,387.10. Following the transaction, the director now owns 157,404 shares of the company’s stock, valued at $28,751,414.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Michael J. Rider sold 200 shares of ResMed stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $173.25, for a total transaction of $34,650.00. Following the completion of the transaction, the general counsel now directly owns 6,688 shares in the company, valued at approximately $1,158,696. The disclosure for this sale can be found here. Insiders have sold 11,216 shares of company stock valued at $2,046,617 in the last 90 days. 1.21% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Mizuho restated a “buy” rating and issued a $215.00 price objective on shares of ResMed in a research report on Wednesday, March 27th. JPMorgan Chase & Co. raised their price objective on shares of ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a research report on Tuesday, January 9th. KeyCorp initiated coverage on shares of ResMed in a research note on Tuesday, February 6th. They issued an “overweight” rating and a $227.00 target price on the stock. Oppenheimer raised their target price on shares of ResMed from $185.00 to $205.00 and gave the company an “outperform” rating in a research note on Tuesday, January 30th. Finally, UBS Group raised their target price on shares of ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday, January 25th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $199.20.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.