2,360 Shares in ResMed Inc. $RMD Bought by Orion Capital Management LLC

Orion Capital Management LLC acquired a new position in ResMed Inc. (NYSE:RMD) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 2,360 shares of the medical equipment provider’s stock, valued at approximately $460,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. North Star Asset Management Inc. bought a new position in shares of ResMed during the second quarter valued at about $2,924,000. Empowered Funds LLC purchased a new position in shares of ResMed in the 2nd quarter valued at approximately $17,200,000. United Capital Financial Advisors LLC purchased a new position in ResMed during the second quarter valued at $1,105,000. Jefferies Financial Group Inc. bought a new position in shares of ResMed during the second quarter valued at approximately $20,235,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of ResMed in the second quarter worth $9,753,000. 54.98% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Peter C. Farrell sold 8,000 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $225.00, for a total transaction of $1,800,000.00. Following the completion of the sale, the director owned 52,773 shares of the company’s stock, valued at $11,873,925. This represents a 13.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $205.69, for a total value of $1,026,598.79. Following the completion of the sale, the chief executive officer directly owned 466,256 shares of the company’s stock, valued at approximately $95,904,196.64. This represents a 1.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 22,973 shares of company stock valued at $4,885,436. Company insiders own 0.65% of the company’s stock.

ResMed Trading Up 2.0%

Shares of NYSE RMD opened at $240.47 on Friday. ResMed Inc. has a 1-year low of $180.26 and a 1-year high of $284.87. The stock has a market capitalization of $34.69 billion, a P/E ratio of 23.06, a PEG ratio of 1.48 and a beta of 0.76. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.10 and a quick ratio of 2.42. The business’s 50 day moving average is $211.81 and its two-hundred day moving average is $219.18.

ResMed (NYSE:RMD) last released its earnings results on Thursday, August 6th. The medical equipment provider reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $0.06. ResMed had a net margin of 26.94% and a return on equity of 25.58%. The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the business earned $2.55 EPS. The business’s revenue was up 8.6% on a year-over-year basis. As a group, research analysts expect that ResMed Inc. will post 12.03 EPS for the current year.

ResMed Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, August 20th will be given a dividend of $0.66 per share. This is a boost from ResMed’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $2.64 dividend on an annualized basis and a yield of 1.1%. ResMed’s dividend payout ratio is presently 25.31%.

Analysts Set New Price Targets

A number of research firms have recently commented on RMD. Weiss Ratings upgraded shares of ResMed from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Piper Sandler reduced their price target on shares of ResMed from $233.00 to $225.00 and set a “neutral” rating for the company in a research report on Friday, August 7th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $230.00 target price (down from $286.00) on shares of ResMed in a report on Wednesday, June 17th. Robert W. Baird set a $213.00 price target on shares of ResMed in a report on Friday, August 7th. Finally, Royal Bank Of Canada boosted their price objective on ResMed from $234.00 to $244.00 and gave the company a “sector perform” rating in a research report on Friday, August 7th. Seven investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, ResMed presently has a consensus rating of “Hold” and a consensus price target of $239.38.

ResMed Company Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.