Syon Capital LLC Takes $272,000 Position in ResMed Inc. (NYSE:RMD)

Syon Capital LLC bought a new position in shares of ResMed Inc. (NYSE:RMD) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,190 shares of the medical equipment provider’s stock, valued at approximately $272,000.

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

ResMed Stock Performance

Shares of RMD stock opened at $235.79 on Friday. The stock has a fifty day moving average price of $221.92 and a 200 day moving average price of $234.05. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. The stock has a market cap of $34.63 billion, a PE ratio of 27.84, a P/E/G ratio of 1.53 and a beta of 0.75. ResMed Inc. has a 1 year low of $179.42 and a 1 year high of $263.05.

ResMed (NYSE:RMD) last released its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.37. ResMed had a return on equity of 26.17% and a net margin of 25.34%. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. Sell-side analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th will be paid a dividend of $0.53 per share. The ex-dividend date is Thursday, May 8th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.90%. ResMed’s dividend payout ratio (DPR) is 25.03%.

Analysts Set New Price Targets

RMD has been the topic of several analyst reports. Morgan Stanley began coverage on ResMed in a research note on Wednesday, March 19th. They issued an “overweight” rating and a $280.00 target price on the stock. Mizuho set a $265.00 price objective on shares of ResMed in a research note on Wednesday, April 16th. Citigroup upgraded shares of ResMed from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 5th. JPMorgan Chase & Co. boosted 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. Finally, Needham & Company LLC restated a “hold” rating on shares of ResMed in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $254.31.

Insider Buying and Selling

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction on 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. This trade represents a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Kaushik Ghoshal sold 9,113 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $235.40, for a total value of $2,145,200.20. Following the completion of the sale, the insider now owns 9,725 shares in the company, valued at $2,289,265. This represents a 48.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,013 shares of company stock worth $11,298,816 in the last ninety days. Insiders own 0.71% of the company’s stock.

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.