Forum Financial Management LP Makes New Investment in ResMed Inc. (NYSE:RMD)

Forum Financial Management LP bought a new stake in shares of ResMed Inc. (NYSE:RMD - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,193 shares of the medical equipment provider's stock, valued at approximately $273,000.

Several other large investors have also added to or reduced their stakes in RMD. Colonial Trust Co SC increased its holdings in shares of ResMed by 6,250.0% during the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider's stock valued at $29,000 after acquiring an additional 125 shares in the last quarter. Optiver Holding B.V. acquired a new stake in shares of ResMed in the 4th quarter worth about $33,000. Itau Unibanco Holding S.A. lifted its position in 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 acquiring an additional 150 shares in the last quarter. OFI Invest Asset Management acquired a new position in ResMed during the 4th quarter valued at about $39,000. Finally, Coppell Advisory Solutions LLC increased its holdings in ResMed by 1,750.0% during the 4th quarter. Coppell Advisory Solutions LLC now owns 185 shares of the medical equipment provider's stock worth $42,000 after purchasing an additional 175 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company's stock.

ResMed Stock Performance

Shares of RMD stock traded up $0.31 during mid-day trading on Thursday, reaching $245.07. 562,834 shares of the company's stock traded hands, compared to its average volume of 1,022,763. ResMed Inc. has a 12 month low of $179.42 and a 12 month high of $263.05. The firm has a market capitalization of $35.93 billion, a PE ratio of 28.93, a price-to-earnings-growth ratio of 1.53 and a beta of 0.78. The firm has a 50 day moving average price of $229.30 and a two-hundred day moving average price of $234.25. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33.

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

ResMed Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on RMD shares. Royal Bank of Canada lifted their target price on shares of ResMed from $247.00 to $255.00 and gave the stock a "sector perform" rating in a research report on Thursday, April 24th. Stifel Nicolaus reduced their price objective on shares of ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a research note on Wednesday, March 5th. Morgan Stanley set a $286.00 price objective on ResMed and gave the company an "overweight" rating in a research note on Tuesday, May 20th. Citigroup raised shares of ResMed from a "neutral" rating to a "buy" rating in a report on Wednesday, March 5th. Finally, KeyCorp set a $274.00 price target 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 assigned a strong buy rating to the company. According to data from MarketBeat, ResMed currently has an average rating of "Moderate Buy" and an average price target of $259.33.

Insider Activity

In other news, CEO Michael J. Farrell sold 8,009 shares of the firm's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $243.23, for a total value of $1,948,029.07. Following the completion of the sale, the chief executive officer now owns 455,503 shares in the company, valued at approximately $110,791,994.69. This trade represents a 1.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Witte Jan De sold 2,000 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $243.47, for a total transaction of $486,940.00. Following the transaction, the director now owns 5,806 shares in the company, valued at $1,413,586.82. The trade was a 25.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,949 shares of company stock worth $11,822,260. 0.71% of the stock is currently owned by insiders.

About ResMed

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.