Farringdon Capital Ltd. Buys New Position in ResMed Inc. (NYSE:RMD)

Farringdon Capital Ltd. bought a new stake in ResMed Inc. (NYSE:RMD) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,965 shares of the medical equipment provider’s stock, valued at approximately $678,000.

A number of other large investors also recently modified their holdings of RMD. Howard Capital Management Inc. boosted its stake in shares of ResMed by 5.3% in the 4th quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider’s stock valued at $206,000 after purchasing an additional 45 shares during the last quarter. SkyView Investment Advisors LLC raised its stake in shares of ResMed by 2.0% during the third quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider’s stock worth $637,000 after buying an additional 51 shares during the last quarter. Wedmont Private Capital lifted its holdings in ResMed by 2.6% in the fourth quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider’s stock valued at $475,000 after buying an additional 52 shares during the period. Faithward Advisors LLC boosted its stake in ResMed by 4.3% in the fourth quarter. Faithward Advisors LLC now owns 1,279 shares of the medical equipment provider’s stock valued at $292,000 after acquiring an additional 53 shares during the last quarter. Finally, HighPoint Advisor Group LLC grew its holdings in ResMed by 2.6% during the 4th quarter. HighPoint Advisor Group LLC now owns 2,570 shares of the medical equipment provider’s stock worth $610,000 after acquiring an additional 64 shares during the period. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Trading Down 1.0 %

ResMed stock opened at $211.79 on Thursday. The company has a market cap of $31.10 billion, a price-to-earnings ratio of 25.00, a P/E/G ratio of 1.53 and a beta of 0.75. The firm has a 50-day moving average of $224.13 and a 200-day moving average of $234.91. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. ResMed Inc. has a one year low of $172.19 and a one year high of $263.05.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. On average, equities analysts expect that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 13th were paid a $0.53 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 1.00%. ResMed’s dividend payout ratio is presently 25.03%.

Insider Buying and Selling

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction on Monday, April 7th. The shares were sold at an average price of $209.85, for a total value of $1,680,688.65. Following the completion of the sale, the chief executive officer now owns 455,472 shares in the company, valued at $95,580,799.20. This trade represents a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kaushik Ghoshal sold 9,113 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the transaction, the insider now owns 9,725 shares in the company, valued at $2,289,265. This represents a 48.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,013 shares of company stock worth $11,298,816. Insiders own 0.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RMD. Piper Sandler upped their price target on ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Mizuho set a $265.00 target price on shares of ResMed in a research note on Wednesday. Stifel Nicolaus reduced their price target on shares of ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a research report on Wednesday, March 5th. KeyCorp boosted their price target on shares of ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, The Goldman Sachs Group assumed coverage on ResMed in a research note on Thursday, January 16th. They set a “buy” rating on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $251.00.

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.