1,190 Shares in ResMed Inc. (NYSE:RMD) Acquired by Syon Capital LLC

Syon Capital LLC acquired a new position in shares of ResMed Inc. (NYSE:RMD - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,190 shares of the medical equipment provider's stock, valued at approximately $272,000.

A number of other hedge funds have also recently added to or reduced their stakes in RMD. Vanguard Group Inc. boosted its position in ResMed by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 18,173,462 shares of the medical equipment provider's stock valued at $4,156,089,000 after purchasing an additional 160,590 shares during the period. Geode Capital Management LLC boosted its holdings in shares of ResMed by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 3,944,084 shares of the medical equipment provider's stock valued at $899,860,000 after acquiring an additional 85,270 shares during the period. Invesco Ltd. boosted its holdings in shares of ResMed by 32.2% during the fourth quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider's stock valued at $531,706,000 after acquiring an additional 566,046 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of ResMed by 3.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 957,020 shares of the medical equipment provider's stock worth $218,861,000 after acquiring an additional 32,973 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in ResMed by 9.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 742,412 shares of the medical equipment provider's stock valued at $169,789,000 after purchasing an additional 65,999 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company's stock.

Insider Activity

In related news, Director Peter C. Farrell sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total value of $484,220.00. Following the completion of the transaction, the director now owns 77,218 shares of the company's stock, valued at approximately $18,695,249.98. This trade represents a 2.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction that occurred 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 transaction, the chief executive officer now owns 455,472 shares in the company, 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. Insiders sold a total of 49,013 shares of company stock valued at $11,298,816 over the last three months. Insiders own 0.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. JPMorgan Chase & Co. upped their target price on shares of ResMed from $286.00 to $290.00 and gave the stock an "overweight" rating in a research report on Thursday. Stifel Nicolaus lowered their target price on ResMed from $250.00 to $240.00 and set a "hold" rating on the stock in a research report on Wednesday, March 5th. The Goldman Sachs Group started coverage on ResMed in a research report on Thursday, January 16th. They set a "buy" rating for the company. Piper Sandler lowered their price target on ResMed from $260.00 to $248.00 and set a "neutral" rating on the stock in a report on Thursday. Finally, KeyCorp set a $274.00 price objective on shares of ResMed in a report on Thursday. One research analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $258.83.

ResMed Price Performance

Shares of RMD traded down $1.82 during mid-day trading on Monday, hitting $234.06. The company's stock had a trading volume of 1,117,896 shares, compared to its average volume of 1,017,721. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The firm has a 50-day moving average price of $221.91 and a 200 day moving average price of $233.96. ResMed Inc. has a fifty-two week low of $179.42 and a fifty-two week high of $263.05. The stock has a market capitalization of $34.38 billion, a price-to-earnings ratio of 27.63, a PEG ratio of 1.53 and a beta of 0.75.

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

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date is Thursday, May 8th. ResMed's dividend payout ratio (DPR) is presently 23.79%.

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.