XY Capital Ltd Buys New Stake in ResMed Inc. $RMD

XY Capital Ltd purchased a new position in ResMed Inc. (NYSE:RMD) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 20,492 shares of the medical equipment provider’s stock, valued at approximately $4,936,000. ResMed comprises 3.1% of XY Capital Ltd’s investment portfolio, making the stock its 4th largest position.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Imprint Wealth LLC acquired a new stake in ResMed in the 3rd quarter worth $26,000. WFA of San Diego LLC acquired a new stake in ResMed in the 2nd quarter worth $26,000. International Assets Investment Management LLC acquired a new stake in ResMed in the 4th quarter worth $25,000. ORG Partners LLC grew its position in ResMed by 181.6% in the 4th quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock worth $26,000 after purchasing an additional 69 shares during the last quarter. Finally, Sunbelt Securities Inc. acquired a new stake in ResMed in the 3rd quarter worth $31,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ResMed

In other news, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $193.96, for a total transaction of $968,054.36. Following the completion of the transaction, the chief executive officer directly owned 466,256 shares of the company’s stock, valued at approximately $90,435,013.76. This trade represents a 1.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total transaction of $450,000.00. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 16,973 shares of company stock valued at $3,580,754 over the last ninety days. 0.65% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on RMD. Wall Street Zen lowered shares of ResMed from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. JPMorgan Chase & Co. began coverage on shares of ResMed in a research report on Wednesday, April 15th. They issued an “overweight” rating on the stock. Robert W. Baird set a $225.00 price target on shares of ResMed in a research report on Friday, May 1st. Evercore set a $255.00 price target on shares of ResMed and gave the stock an “outperform” rating in a research report on Monday, April 13th. Finally, Weiss Ratings downgraded shares of ResMed from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $286.18.

ResMed Price Performance

NYSE:RMD opened at $192.41 on Friday. The company has a 50-day moving average of $210.89 and a 200-day moving average of $235.68. The company has a market capitalization of $27.91 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 1.23 and a beta of 0.80. ResMed Inc. has a 52 week low of $180.26 and a 52 week high of $293.81. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.33 and a current ratio of 3.01.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.07. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period last year, the firm earned $2.37 EPS. As a group, equities research analysts anticipate that ResMed Inc. will post 11.13 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Thursday, May 14th. ResMed’s dividend payout ratio (DPR) is presently 23.14%.

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.