Corton Capital Inc. Acquires Shares of 1,860 ResMed Inc. (NYSE:RMD)

Corton Capital Inc. acquired a new stake in ResMed Inc. (NYSE:RMD - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,860 shares of the medical equipment provider's stock, valued at approximately $425,000.

A number of other hedge funds and other institutional investors have also modified their holdings of RMD. Optiver Holding B.V. purchased a new stake in ResMed during the fourth quarter worth approximately $33,000. Itau Unibanco Holding S.A. grew its position in shares of ResMed by 1,000.0% in the 4th quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider's stock valued at $38,000 after buying an additional 150 shares during the last quarter. OFI Invest Asset Management acquired a new stake in ResMed during the 4th quarter worth $39,000. Coppell Advisory Solutions LLC lifted its position in ResMed by 1,750.0% in the fourth quarter. Coppell Advisory Solutions LLC now owns 185 shares of the medical equipment provider's stock valued at $42,000 after acquiring an additional 175 shares during the last quarter. Finally, BankPlus Trust Department purchased a new position in shares of ResMed during the fourth quarter worth about $44,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at ResMed

In other news, CEO Michael J. Farrell sold 8,009 shares of the business's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $209.85, for a total transaction of $1,680,688.65. Following the sale, the chief executive officer now owns 455,472 shares in the company, valued at $95,580,799.20. The trade was a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $242.25, for a total value of $484,500.00. Following the completion of the sale, the director now owns 71,218 shares of the company's stock, valued at $17,252,560.50. The trade was a 2.73 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,940 shares of company stock valued at $9,387,291. Company insiders own 0.71% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on RMD shares. UBS Group reduced their price target on shares of ResMed from $290.00 to $285.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. StockNews.com raised ResMed from a "hold" rating to a "buy" rating in a research report on Friday, May 2nd. Needham & Company LLC reiterated a "hold" rating on shares of ResMed in a research report on Friday, January 31st. KeyCorp set a $274.00 price target on shares of ResMed in a report on Thursday, April 24th. Finally, The Goldman Sachs Group began coverage on ResMed in a research note on Thursday, January 16th. They set a "buy" rating for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $258.83.

ResMed Stock Up 0.2 %

RMD traded up $0.58 during trading on Friday, hitting $243.67. The company had a trading volume of 18,416 shares, compared to its average volume of 1,042,315. ResMed Inc. has a 1-year low of $179.42 and a 1-year high of $263.05. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The company has a market cap of $35.73 billion, a PE ratio of 28.77, a P/E/G ratio of 1.53 and a beta of 0.78. The business has a 50-day moving average of $223.09 and a 200-day moving average of $234.06.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share for the quarter, beating analysts' consensus estimates of $2.36 by $0.01. ResMed had a return on equity of 26.17% and a net margin of 25.34%. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the previous year, the business earned $2.13 EPS. The business's quarterly revenue was up 7.9% on a year-over-year basis. As a group, analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 8th will be given a $0.53 dividend. The ex-dividend date is Thursday, May 8th. This represents a $2.12 dividend on an annualized basis and a yield of 0.87%. ResMed's dividend payout ratio is presently 23.79%.

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.