XY Capital Ltd Makes New $4.94 Million Investment in ResMed Inc. $RMD

XY Capital Ltd bought a new position in ResMed Inc. (NYSE:RMD) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 20,492 shares of the medical equipment provider’s stock, valued at approximately $4,936,000. ResMed makes up about 3.1% of XY Capital Ltd’s holdings, making the stock its 4th biggest holding.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RMD. International Assets Investment Management LLC purchased a new stake in ResMed in the 4th quarter worth approximately $25,000. ORG Partners LLC lifted 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 buying an additional 69 shares in the last quarter. Imprint Wealth LLC purchased a new stake in ResMed in the 3rd quarter worth approximately $26,000. WFA of San Diego LLC purchased a new stake in ResMed in the 2nd quarter worth approximately $26,000. Finally, Sunbelt Securities Inc. purchased a new stake in ResMed in the 3rd quarter worth approximately $31,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Insiders Place Their Bets

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

ResMed Stock Down 0.6%

ResMed stock opened at $192.41 on Friday. The company has a market capitalization of $27.91 billion, a P/E ratio of 18.55, a P/E/G ratio of 1.23 and a beta of 0.80. The firm’s fifty day simple moving average is $210.89 and its 200-day simple moving average is $235.68. The company has a current ratio of 3.01, a quick ratio of 2.33 and a debt-to-equity ratio of 0.06. ResMed Inc. has a 1-year low of $180.26 and a 1-year high of $293.81.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.07. The business had revenue of $1.43 billion for 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%. ResMed’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.37 EPS. Sell-side analysts forecast that ResMed Inc. will post 11.13 earnings per share for the current fiscal year.

ResMed Dividend Announcement

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

Wall Street Analysts Forecast Growth

RMD has been the subject of a number of research analyst reports. KeyCorp cut their target price on shares of ResMed from $302.00 to $290.00 and set an “overweight” rating for the company in a research report on Monday, April 27th. Wells Fargo & Company cut their target price on shares of ResMed from $270.00 to $227.00 and set an “equal weight” rating for the company in a research report on Friday, May 1st. Robert W. Baird set a $225.00 target price 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 company an “outperform” rating in a report on Monday, April 13th. Finally, JPMorgan Chase & Co. initiated coverage on shares of ResMed in a report on Wednesday, April 15th. They set an “overweight” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $286.18.

About ResMed

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.