Syon Capital LLC Acquires Shares of 1,190 ResMed Inc. (NYSE:RMD)

Syon Capital LLC purchased a new position in shares of ResMed Inc. (NYSE:RMD - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,190 shares of the medical equipment provider's stock, valued at approximately $272,000.

Several other institutional investors have also bought and sold shares of RMD. OFI Invest Asset Management bought a new stake in ResMed during the fourth quarter worth $39,000. Coppell Advisory Solutions LLC grew its stake in ResMed by 1,750.0% in the 4th quarter. Coppell Advisory Solutions LLC now owns 185 shares of the medical equipment provider's stock valued at $42,000 after purchasing an additional 175 shares during the period. BankPlus Trust Department purchased a new position in shares of ResMed during the 4th quarter valued at $44,000. Rosenberg Matthew Hamilton purchased a new position in shares of ResMed during the 4th quarter valued at $54,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of ResMed during the 4th quarter valued at $67,000. Institutional investors own 54.98% of the company's stock.

Analysts Set New Price Targets

RMD has been the topic of a number of recent research reports. Royal Bank of Canada increased their price objective on ResMed from $247.00 to $255.00 and gave the stock a "sector perform" rating in a report on Thursday, April 24th. Morgan Stanley initiated coverage on ResMed in a report on Wednesday, March 19th. They set an "overweight" rating and a $280.00 price objective on the stock. Mizuho set a $265.00 price objective on ResMed in a report on Wednesday, April 16th. KeyCorp set a $274.00 price objective on ResMed in a report on Thursday, April 24th. Finally, Stifel Nicolaus lowered their price target on ResMed from $250.00 to $240.00 and set a "hold" rating on the stock in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, ResMed has a consensus rating of "Moderate Buy" and an average target price of $258.83.

ResMed Trading Down 0.0 %

Shares of ResMed stock traded down $0.10 during trading on Thursday, reaching $236.49. The company's stock had a trading volume of 258,438 shares, compared to its average volume of 1,007,732. The company has a market cap of $34.73 billion, a price-to-earnings ratio of 27.94, a PEG ratio of 1.53 and a beta of 0.75. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The firm's 50-day moving average is $222.10 and its two-hundred day moving average is $234.00. ResMed Inc. has a 52-week low of $179.42 and a 52-week high of $263.05.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share for the quarter, beating 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 business had revenue of $1.29 billion during the quarter, compared to analysts' expectations of $1.28 billion. During the same quarter in the prior year, the company posted $2.13 EPS. The firm's revenue for the quarter was up 7.9% compared to the same quarter last year. On average, sell-side analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 8th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $2.12 annualized dividend and a yield of 0.90%. ResMed's dividend payout ratio (DPR) is presently 23.79%.

Insiders Place Their Bets

In related news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $219.74, for a total value of $439,480.00. Following the completion of the transaction, the director now directly owns 73,218 shares in the company, valued at $16,088,923.32. This trade represents a 2.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the completion of the transaction, the chief executive officer now owns 455,472 shares of the company's stock, valued at approximately $107,842,105.44. The trade was a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,013 shares of company stock worth $11,298,816. 0.71% of the stock is currently owned by corporate insiders.

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.