Synergy Asset Management LLC Grows Stake in ResMed Inc. (NYSE:RMD)

Synergy Asset Management LLC boosted its position in ResMed Inc. (NYSE:RMD - Free Report) by 29.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,383 shares of the medical equipment provider's stock after buying an additional 15,663 shares during the period. ResMed makes up approximately 2.1% of Synergy Asset Management LLC's portfolio, making the stock its 19th biggest position. Synergy Asset Management LLC's holdings in ResMed were worth $11,935,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ossiam increased its position in ResMed by 2.4% in the 1st quarter. Ossiam now owns 1,919 shares of the medical equipment provider's stock valued at $420,000 after buying an additional 45 shares in the last quarter. Ascent Group LLC increased its holdings in ResMed by 2.3% during the 3rd quarter. Ascent Group LLC now owns 1,995 shares of the medical equipment provider's stock worth $446,000 after purchasing an additional 45 shares in the last quarter. SeaCrest Wealth Management LLC increased its holdings in ResMed by 3.6% during the 4th quarter. SeaCrest Wealth Management LLC now owns 1,400 shares of the medical equipment provider's stock worth $291,000 after purchasing an additional 48 shares in the last quarter. Capital Impact Advisors LLC increased its holdings in ResMed by 3.0% during the 4th quarter. Capital Impact Advisors LLC now owns 1,916 shares of the medical equipment provider's stock worth $399,000 after purchasing an additional 56 shares in the last quarter. Finally, Dearborn Partners LLC increased its holdings in ResMed by 3.8% during the 3rd quarter. Dearborn Partners LLC now owns 1,577 shares of the medical equipment provider's stock worth $344,000 after purchasing an additional 57 shares in the last quarter. 54.98% of the stock is owned by institutional investors.

Insider Activity at ResMed

In related news, Director Peter C. Farrell sold 10,935 shares of the business's stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the sale, the director now directly owns 157,404 shares in the company, valued at approximately $28,751,414.64. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Peter C. Farrell sold 10,935 shares of the business's stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the completion of the transaction, the director now directly owns 157,404 shares in the company, valued at $28,751,414.64. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, General Counsel Michael J. Rider sold 200 shares of the business's stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $173.25, for a total value of $34,650.00. Following the transaction, the general counsel now owns 6,688 shares of the company's stock, valued at $1,158,696. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,216 shares of company stock worth $2,046,617. 1.21% of the stock is owned by company insiders.

ResMed Stock Performance

Shares of RMD traded up $1.70 during mid-day trading on Friday, hitting $198.03. The stock had a trading volume of 622,676 shares, compared to its average volume of 1,105,304. The firm has a market cap of $29.13 billion, a P/E ratio of 32.73, a PEG ratio of 2.45 and a beta of 0.65. The business has a fifty day moving average price of $186.37 and a 200-day moving average price of $166.27. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.11 and a quick ratio of 1.89. ResMed Inc. has a 52 week low of $132.24 and a 52 week high of $243.52.

ResMed (NYSE:RMD - Get Free Report) last issued its earnings results on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.81 by $0.07. ResMed had a return on equity of 23.86% and a net margin of 19.77%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the previous year, the company posted $1.66 earnings per share. The business's revenue was up 12.5% on a year-over-year basis. On average, equities research analysts expect that ResMed Inc. will post 7.45 EPS for the current year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Thursday, February 8th were paid a dividend of $0.48 per share. The ex-dividend date was Wednesday, February 7th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.97%. ResMed's payout ratio is 31.74%.

Wall Street Analyst Weigh In

A number of analysts have commented on RMD shares. JPMorgan Chase & Co. boosted their price objective on ResMed from $160.00 to $195.00 and gave the stock an "overweight" rating in a report on Tuesday, January 9th. Royal Bank of Canada upped their target price on ResMed from $181.00 to $182.00 and gave the company a "sector perform" rating in a report on Thursday, January 25th. Oppenheimer upped their target price on ResMed from $185.00 to $205.00 and gave the company an "outperform" rating in a report on Tuesday, January 30th. Mizuho reaffirmed a "buy" rating and issued a $215.00 target price on shares of ResMed in a report on Wednesday. Finally, KeyCorp assumed coverage on ResMed in a report on Tuesday, February 6th. They issued an "overweight" rating and a $227.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $198.30.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.