G&S Capital LLC Invests $577,000 in ResMed Inc. (NYSE:RMD)

G&S Capital LLC purchased a new position in ResMed Inc. (NYSE:RMD - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 2,577 shares of the medical equipment provider's stock, valued at approximately $577,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of RMD. Vanguard Group Inc. lifted its stake in shares of ResMed by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 18,173,462 shares of the medical equipment provider's stock valued at $4,156,089,000 after buying an additional 160,590 shares during the period. Geode Capital Management LLC raised its holdings in ResMed by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 3,944,084 shares of the medical equipment provider's stock valued at $899,860,000 after acquiring an additional 85,270 shares in the last quarter. Invesco Ltd. lifted its position in shares of ResMed by 32.2% in the 4th quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider's stock worth $531,706,000 after acquiring an additional 566,046 shares during the period. Northern Trust Corp grew its holdings in shares of ResMed by 20.6% during the 4th quarter. Northern Trust Corp now owns 1,702,590 shares of the medical equipment provider's stock worth $389,365,000 after purchasing an additional 290,664 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of ResMed by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 957,020 shares of the medical equipment provider's stock worth $218,861,000 after purchasing an additional 32,973 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RMD has been the subject of several research reports. KeyCorp set a $274.00 target price on ResMed in a research report on Thursday, April 24th. Citigroup upgraded shares of ResMed from a "neutral" rating to a "buy" rating in a research note on Wednesday, March 5th. Mizuho set a $265.00 target price on shares of ResMed in a research report on Wednesday, April 16th. Piper Sandler dropped their price target on shares of ResMed from $260.00 to $248.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Finally, JPMorgan Chase & Co. raised their price target on shares of ResMed from $286.00 to $290.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $259.33.

Insider Activity at ResMed

In related news, Director Witte Jan De sold 2,000 shares of the firm's stock in a transaction that occurred on 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 sale, the director owned 5,806 shares of the company's stock, valued at $1,413,586.82. This trade represents a 25.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the company's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $242.25, for a total value of $484,500.00. Following the transaction, the director directly owned 71,218 shares in the company, valued at approximately $17,252,560.50. This represents a 2.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,068 shares of company stock valued at $7,061,574 over the last ninety days. 0.71% of the stock is owned by insiders.

ResMed Price Performance

Shares of NYSE RMD traded down $1.76 during mid-day trading on Tuesday, hitting $256.24. 905,361 shares of the stock were exchanged, compared to its average volume of 970,550. ResMed Inc. has a twelve month low of $187.50 and a twelve month high of $263.05. The stock's fifty day simple moving average is $245.93 and its two-hundred day simple moving average is $235.41. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.49 and a current ratio of 3.41. The company has a market cap of $37.57 billion, a P/E ratio of 28.76, a PEG ratio of 1.78 and a beta of 0.77.

ResMed (NYSE:RMD - Get Free Report) last released 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 25.67% and a net margin of 26.15%. The firm had revenue of $1.29 billion during the quarter, compared to analysts' expectations of $1.28 billion. During the same period last year, the firm posted $2.13 EPS. The business's revenue was up 7.9% on a year-over-year basis. As a group, analysts forecast that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 8th were issued a $0.53 dividend. The ex-dividend date was Thursday, May 8th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.83%. ResMed's dividend payout ratio is 23.79%.

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.