GYL Financial Synergies LLC purchased a new stake in ResMed Inc. (NYSE:RMD) in the 1st quarter, HoldingsChannel reports. The institutional investor purchased 7,270 shares of the medical equipment provider’s stock, valued at approximately $756,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in RMD. Farmers & Merchants Investments Inc. increased its position in shares of ResMed by 49.0% during the first quarter. Farmers & Merchants Investments Inc. now owns 295 shares of the medical equipment provider’s stock worth $31,000 after buying an additional 97 shares during the period. Financial Gravity Companies Inc. acquired a new stake in shares of ResMed during the fourth quarter worth $34,000. Executive Wealth Management LLC acquired a new stake in shares of ResMed during the fourth quarter worth $35,000. Parallel Advisors LLC increased its position in shares of ResMed by 143.0% during the fourth quarter. Parallel Advisors LLC now owns 328 shares of the medical equipment provider’s stock worth $37,000 after buying an additional 193 shares during the period. Finally, Altshuler Shaham Ltd increased its position in shares of ResMed by 36.4% during the fourth quarter. Altshuler Shaham Ltd now owns 1,023 shares of the medical equipment provider’s stock worth $37,000 after buying an additional 273 shares during the period. Hedge funds and other institutional investors own 67.26% of the company’s stock.

Several equities research analysts have recently weighed in on RMD shares. UBS Group upgraded shares of ResMed from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $109.00 to $119.00 in a research report on Monday, May 6th. ValuEngine upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Zacks Investment Research upgraded shares of ResMed from a “sell” rating to a “buy” rating and set a $116.00 price objective for the company in a research report on Monday, April 1st. Deutsche Bank raised shares of ResMed from a “hold” rating to a “buy” rating in a research note on Wednesday, March 20th. Finally, JPMorgan Chase & Co. raised shares of ResMed from an “underweight” rating to a “neutral” rating and set a $95.00 target price on the stock in a research note on Thursday, April 18th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $112.50.

In related news, CEO Michael J. Farrell sold 6,651 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $100.82, for a total transaction of $670,553.82. Following the transaction, the chief executive officer now directly owns 292,933 shares of the company’s stock, valued at $29,533,505.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Brett Sandercock sold 3,000 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $104.96, for a total transaction of $314,880.00. Following the transaction, the chief financial officer now directly owns 85,390 shares in the company, valued at $8,962,534.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 98,171 shares of company stock worth $10,895,378. 1.24% of the stock is owned by insiders.

Shares of NYSE RMD opened at $118.09 on Friday. The firm has a market cap of $17.13 billion, a P/E ratio of 32.72, a P/E/G ratio of 3.11 and a beta of 0.44. ResMed Inc. has a 12-month low of $90.64 and a 12-month high of $120.00. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.69 and a current ratio of 2.38.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, May 2nd. The medical equipment provider reported $0.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.05. The business had revenue of $662.23 million for the quarter, compared to analyst estimates of $657.82 million. ResMed had a net margin of 17.65% and a return on equity of 26.46%. ResMed’s revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.92 earnings per share. Equities research analysts predict that ResMed Inc. will post 3.63 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 9th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.25%. The ex-dividend date was Wednesday, May 8th. ResMed’s dividend payout ratio is presently 41.93%.

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ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. It offers various products and solutions for a range of respiratory disorders, including technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, portable oxygen concentrators, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.

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Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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