Canton Hathaway LLC Makes New $716,000 Investment in ResMed Inc. (NYSE:RMD)

Canton Hathaway LLC acquired a new stake in ResMed Inc. (NYSE:RMD - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 3,200 shares of the medical equipment provider's stock, valued at approximately $716,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Global X Japan Co. Ltd. grew its stake in shares of ResMed by 121.4% in the first quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider's stock valued at $28,000 after buying an additional 68 shares in the last quarter. Colonial Trust Co SC grew its stake in shares of ResMed by 6,250.0% in the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider's stock valued at $29,000 after buying an additional 125 shares in the last quarter. Optiver Holding B.V. bought a new position in shares of ResMed in the fourth quarter valued at $33,000. Itau Unibanco Holding S.A. grew its stake in shares of ResMed by 1,000.0% in the fourth 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 in the last quarter. Finally, OFI Invest Asset Management bought a new position in shares of ResMed in the fourth quarter valued at $39,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on RMD shares. Mizuho set a $265.00 target price on shares of ResMed in a research note on Wednesday, April 16th. UBS Group decreased their target price on shares of ResMed from $290.00 to $285.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. JPMorgan Chase & Co. raised their target price on shares of ResMed from $286.00 to $290.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Morgan Stanley set a $286.00 price objective on shares of ResMed and gave the stock an "overweight" rating in a research report on Tuesday, May 20th. Finally, KeyCorp set a $274.00 price objective on shares of ResMed in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, ResMed currently has a consensus rating of "Moderate Buy" and a consensus target price of $259.33.

Insider Activity at ResMed

In related news, CEO Michael J. Farrell sold 8,009 shares of the business's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $251.21, for a total value of $2,011,940.89. Following the completion of the transaction, the chief executive officer now owns 455,503 shares of the company's stock, valued at $114,426,908.63. The trade was a 1.73% 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. Also, Director Witte Jan De sold 2,000 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $243.47, for a total value of $486,940.00. Following the completion of the transaction, the director now directly owns 5,806 shares of the company's stock, valued at approximately $1,413,586.82. This trade represents a 25.62% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,132 shares of company stock valued at $7,075,837 over the last quarter. 0.71% of the stock is owned by corporate insiders.

ResMed Stock Performance

Shares of RMD traded up $2.77 during midday trading on Friday, reaching $253.65. 964,317 shares of the stock were exchanged, compared to its average volume of 998,267. ResMed Inc. has a twelve month low of $179.42 and a twelve month high of $263.05. The company has a quick ratio of 2.49, a current ratio of 3.41 and a debt-to-equity ratio of 0.12. The company has a market cap of $37.19 billion, a P/E ratio of 28.47, a PEG ratio of 1.75 and a beta of 0.78. The stock's 50 day simple moving average is $240.71 and its 200 day simple moving average is $234.88.

ResMed (NYSE:RMD - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share for the quarter, topping analysts' consensus estimates of $2.36 by $0.01. ResMed had a return on equity of 25.67% and a net margin of 26.15%. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the firm earned $2.13 earnings per share. The company's revenue was up 7.9% on a year-over-year basis. On average, sell-side analysts expect that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 8th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date was Thursday, May 8th. ResMed's dividend payout ratio (DPR) is presently 23.79%.

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.