Orion Capital Management LLC Sells 200 Shares of ResMed Inc. $RMD

Orion Capital Management LLC trimmed its position in ResMed Inc. (NYSE:RMD) by 7.5% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 2,460 shares of the medical equipment provider’s stock after selling 200 shares during the period. Orion Capital Management LLC’s holdings in ResMed were worth $635,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in RMD. Golden State Wealth Management LLC lifted its stake in shares of ResMed by 384.8% during the first quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider’s stock valued at $36,000 after acquiring an additional 127 shares during the period. Zions Bancorporation National Association UT bought a new stake in ResMed during the 1st quarter worth about $45,000. Groupe la Francaise acquired a new position in ResMed during the 1st quarter valued at about $45,000. Harbour Investments Inc. lifted its position in ResMed by 264.2% during the 2nd quarter. Harbour Investments Inc. now owns 244 shares of the medical equipment provider’s stock valued at $63,000 after purchasing an additional 177 shares during the period. Finally, Larson Financial Group LLC boosted its stake in shares of ResMed by 926.7% in the 1st quarter. Larson Financial Group LLC now owns 308 shares of the medical equipment provider’s stock valued at $69,000 after purchasing an additional 278 shares during the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RMD has been the subject of a number of recent research reports. UBS Group raised shares of ResMed to a “strong-buy” rating in a research note on Tuesday, September 16th. CLSA upgraded shares of ResMed from a “hold” rating to an “outperform” rating in a research report on Tuesday, September 2nd. William Blair raised ResMed to a “strong-buy” rating in a research note on Friday, August 1st. Citigroup started coverage on ResMed in a research note on Thursday, September 18th. They set a “buy” rating and a $330.00 price objective for the company. Finally, Wells Fargo & Company assumed coverage on ResMed in a report on Monday, October 13th. They issued an “equal weight” rating and a $280.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $295.70.

Insider Activity

In related news, CEO Michael J. Farrell sold 8,009 shares of the business’s stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $282.85, for a total value of $2,265,345.65. Following the completion of the transaction, the chief executive officer directly owned 467,792 shares in the company, valued at approximately $132,314,967.20. The trade was a 1.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Hernandez sold 2,575 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $287.10, for a total transaction of $739,282.50. Following the sale, the director owned 4,045 shares in the company, valued at $1,161,319.50. This trade represents a 38.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,743 shares of company stock worth $5,284,514 in the last 90 days. Corporate insiders own 0.65% of the company’s stock.

ResMed Trading Down 2.0%

Shares of NYSE RMD opened at $259.87 on Friday. The company’s fifty day moving average is $275.26 and its 200-day moving average is $259.39. The stock has a market cap of $37.93 billion, a price-to-earnings ratio of 27.33, a P/E/G ratio of 1.79 and a beta of 0.83. ResMed Inc. has a twelve month low of $199.92 and a twelve month high of $293.81. The company has a quick ratio of 2.53, a current ratio of 3.44 and a debt-to-equity ratio of 0.11.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, July 31st. The medical equipment provider reported $2.55 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.08. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.33 billion. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.08 EPS. Equities research analysts predict that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, August 14th were given a dividend of $0.60 per share. This is an increase from ResMed’s previous quarterly dividend of $0.53. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Thursday, August 14th. ResMed’s payout ratio is 25.24%.

ResMed 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.