26,000 Shares in ResMed Inc. (NYSE:RMD) Bought by Altium Capital Management LLC

Altium Capital Management LLC bought a new position in ResMed Inc. (NYSE:RMD) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 26,000 shares of the medical equipment provider’s stock, valued at approximately $5,946,000. ResMed makes up about 1.7% of Altium Capital Management LLC’s investment portfolio, making the stock its 20th largest holding.

Several other large investors have also recently bought and sold shares of RMD. Howard Capital Management Inc. increased its holdings in ResMed by 5.3% in the fourth 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 period. SkyView Investment Advisors LLC grew its position in shares of ResMed by 2.0% in the 3rd quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider’s stock valued at $637,000 after buying an additional 51 shares during the last quarter. Wedmont Private Capital increased its stake in shares of 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 raised its position in shares of ResMed by 4.3% during the fourth quarter. Faithward Advisors LLC now owns 1,279 shares of the medical equipment provider’s stock worth $292,000 after acquiring an additional 53 shares during the last quarter. Finally, HighPoint Advisor Group LLC lifted its stake in shares of ResMed by 2.6% in the fourth 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.

Analysts Set New Price Targets

RMD has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. KeyCorp boosted their target price on shares of ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Piper Sandler increased their price target on ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Morgan Stanley initiated coverage on ResMed in a research note on Wednesday, March 19th. They issued an “overweight” rating and a $280.00 price objective on the stock. Finally, Citigroup raised ResMed from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $251.00.

ResMed Price Performance

Shares of NYSE:RMD opened at $212.89 on Friday. ResMed Inc. has a twelve month low of $176.33 and a twelve month high of $263.05. The stock’s 50 day moving average is $223.61 and its 200-day moving average is $234.69. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $31.27 billion, a price-to-earnings ratio of 25.13, a PEG ratio of 1.53 and a beta of 0.75.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping 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%. Sell-side analysts forecast that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

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

Insider Buying and Selling at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total transaction of $484,220.00. Following the sale, the director now directly owns 77,218 shares in the company, valued at approximately $18,695,249.98. This represents a 2.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Kaushik Ghoshal sold 9,113 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $235.40, for a total value of $2,145,200.20. Following the sale, the insider now owns 9,725 shares in the company, valued at approximately $2,289,265. This represents a 48.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,013 shares of company stock worth $11,298,816 over the last three months. 0.71% of the stock is currently owned by insiders.

ResMed Company 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.