Altium Capital Management LLC Purchases New Shares in ResMed Inc. (NYSE:RMD)

Altium Capital Management LLC acquired a new stake in ResMed Inc. (NYSE:RMD - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 26,000 shares of the medical equipment provider's stock, valued at approximately $5,946,000. ResMed makes up approximately 1.7% of Altium Capital Management LLC's holdings, making the stock its 20th biggest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. OFI Invest Asset Management bought a new stake in ResMed during the fourth quarter worth about $39,000. BankPlus Trust Department acquired a new position in shares of ResMed in the 4th quarter worth approximately $44,000. Rosenberg Matthew Hamilton bought a new stake in ResMed during the 4th quarter worth approximately $54,000. SBI Securities Co. Ltd. acquired a new stake in ResMed during the 4th quarter valued at $67,000. Finally, Kentucky Trust Co bought a new position in ResMed in the 4th quarter valued at $82,000. Institutional investors own 54.98% of the company's stock.

ResMed Price Performance

Shares of RMD traded up $1.95 during trading hours on Wednesday, reaching $216.03. The stock had a trading volume of 636,599 shares, compared to its average volume of 1,021,824. The stock has a market capitalization of $31.73 billion, a PE ratio of 25.51, a PEG ratio of 1.53 and a beta of 0.75. 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 company's 50-day moving average is $222.11 and its two-hundred day moving average is $234.16. ResMed Inc. has a 12 month low of $179.00 and a 12 month high of $263.05.

ResMed (NYSE:RMD - Get Free Report) last announced its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. Research analysts expect that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a yield of 0.98%. ResMed's payout ratio is currently 25.03%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Piper Sandler increased their target price on ResMed from $252.00 to $260.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Stifel Nicolaus lowered their price objective on shares of ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a research report on Wednesday, March 5th. Morgan Stanley began coverage on shares of ResMed in a research report on Wednesday, March 19th. They set an "overweight" rating and a $280.00 target price on the stock. KeyCorp lowered their price target on shares of ResMed from $280.00 to $269.00 and set an "overweight" rating for the company in a report on Monday. Finally, JPMorgan Chase & Co. upped their price objective on ResMed from $270.00 to $286.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $250.08.

Insider Transactions at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total value of $484,220.00. Following the transaction, the director now owns 77,218 shares in the company, valued at approximately $18,695,249.98. This represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kaushik Ghoshal sold 9,113 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the transaction, the insider now owns 9,725 shares in the company, valued at approximately $2,289,265. The trade was a 48.38 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,013 shares of company stock valued at $11,298,816. Corporate 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.