Forum Financial Management LP Invests $273,000 in ResMed Inc. (NYSE:RMD)

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

Other institutional investors and hedge funds also recently modified their holdings of the company. OFI Invest Asset Management bought a new position in shares of ResMed during the 4th quarter valued at approximately $39,000. BankPlus Trust Department purchased a new stake in ResMed in the fourth quarter worth $44,000. Rosenberg Matthew Hamilton purchased a new stake in ResMed in the fourth quarter worth $54,000. SBI Securities Co. Ltd. bought a new stake in shares of ResMed in the fourth quarter valued at $67,000. Finally, Kentucky Trust Co purchased a new position in shares of ResMed during the 4th quarter valued at $82,000. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now owns 455,472 shares of the company's stock, valued at $95,580,799.20. This represents a 1.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the business's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total transaction of $484,220.00. Following the completion of the transaction, the director now owns 77,218 shares in the company, valued at $18,695,249.98. The trade was a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,013 shares of company stock worth $11,298,816 in the last ninety days. 0.71% of the stock is owned by insiders.

ResMed Price Performance

NYSE:RMD traded down $1.48 during mid-day trading on Monday, reaching $234.40. The stock had a trading volume of 347,892 shares, compared to its average volume of 1,014,807. The stock has a market capitalization of $34.43 billion, a P/E ratio of 27.66, a P/E/G ratio of 1.53 and a beta of 0.75. The firm has a 50 day moving average price of $221.92 and a two-hundred day moving average price of $234.00. 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 Inc. has a one year low of $179.42 and a one year high of $263.05.

ResMed (NYSE:RMD - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, hitting analysts' consensus estimates of $2.37. ResMed had a net margin of 25.34% and a return on equity of 26.17%. The company had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.28 billion. As a group, analysts expect that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

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 issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Thursday, May 8th. ResMed's dividend payout ratio is presently 23.79%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on RMD shares. 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 ResMed in a report on Wednesday, April 16th. Stifel Nicolaus lowered their price target on shares of ResMed from $250.00 to $240.00 and set a "hold" rating on the stock in a report on Wednesday, March 5th. Morgan Stanley initiated coverage on shares of ResMed in a research note on Wednesday, March 19th. They set an "overweight" rating and a $280.00 price objective for the company. Finally, Needham & Company LLC reissued a "hold" rating on shares of ResMed in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, ResMed presently has an average rating of "Moderate Buy" and an average price target of $258.83.

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.