2,410 Shares in ResMed Inc. $RMD Purchased by Mach 1 Financial Group LLC

Mach 1 Financial Group LLC purchased a new position in shares of ResMed Inc. (NYSE:RMD) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,410 shares of the medical equipment provider’s stock, valued at approximately $580,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Leonteq Securities AG purchased a new position in ResMed in the fourth quarter worth $368,000. ABN Amro Investment Solutions boosted its position in ResMed by 368.6% in the fourth quarter. ABN Amro Investment Solutions now owns 5,890 shares of the medical equipment provider’s stock worth $1,419,000 after purchasing an additional 4,633 shares during the last quarter. IFP Advisors Inc boosted its position in ResMed by 8.3% in the fourth quarter. IFP Advisors Inc now owns 1,197 shares of the medical equipment provider’s stock worth $288,000 after purchasing an additional 92 shares during the last quarter. Cullen Frost Bankers Inc. boosted its position in ResMed by 186.4% in the fourth quarter. Cullen Frost Bankers Inc. now owns 1,541 shares of the medical equipment provider’s stock worth $371,000 after purchasing an additional 1,003 shares during the last quarter. Finally, Fairtree Asset Management Pty Ltd boosted its position in ResMed by 108.9% in the fourth quarter. Fairtree Asset Management Pty Ltd now owns 8,420 shares of the medical equipment provider’s stock worth $2,028,000 after purchasing an additional 4,389 shares during the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

ResMed Stock Down 0.5%

Shares of NYSE RMD opened at $208.86 on Friday. ResMed Inc. has a one year low of $198.61 and a one year high of $293.81. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.01 and a quick ratio of 2.33. The business’s fifty day moving average price is $220.37 and its 200-day moving average price is $241.15. The stock has a market capitalization of $30.43 billion, a PE ratio of 20.14, a P/E/G ratio of 1.34 and a beta of 0.84.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 EPS for the quarter, beating analysts’ consensus estimates of $2.79 by $0.07. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.42 billion. ResMed had a return on equity of 25.35% and a net margin of 27.44%.The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.37 EPS. On average, equities research analysts anticipate that ResMed Inc. will post 11.13 EPS for the current year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, May 14th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Thursday, May 14th. ResMed’s dividend payout ratio is presently 23.14%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on RMD shares. Piper Sandler boosted their price objective on ResMed from $270.00 to $275.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. Robert W. Baird set a $225.00 price objective on ResMed in a research report on Friday, May 1st. Wall Street Zen cut shares of ResMed from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Weiss Ratings cut shares of ResMed from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, March 19th. Finally, KeyCorp dropped their target price on shares of ResMed from $302.00 to $290.00 and set an “overweight” rating on the stock in a research note on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, ResMed has an average rating of “Moderate Buy” and an average target price of $286.18.

Insider Buying and Selling

In related news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total transaction of $450,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $207.82, for a total value of $1,037,229.62. Following the sale, the chief executive officer directly owned 466,223 shares in the company, valued at $96,890,463.86. This trade represents a 1.06% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 18,973 shares of company stock worth $4,386,031 over the last 90 days. 0.65% of the stock is currently owned by corporate insiders.

ResMed 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.