2,360 Shares in ResMed Inc. $RMD Bought by Orion Capital Management LLC

Orion Capital Management LLC acquired a new stake in ResMed Inc. (NYSE:RMD) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,360 shares of the medical equipment provider’s stock, valued at approximately $460,000.

Other institutional investors also recently bought and sold shares of the company. Imprint Wealth LLC purchased a new stake in shares of ResMed during the third quarter worth approximately $26,000. WFA of San Diego LLC purchased a new position in ResMed during the second quarter worth about $26,000. International Assets Investment Management LLC purchased a new stake in shares of ResMed during the 4th quarter valued at approximately $25,000. Sunbelt Securities Inc. acquired a new position in shares of ResMed in the 3rd quarter valued at $31,000. Finally, Bell Investment Advisors Inc purchased a new position in ResMed during the second quarter worth about $26,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ResMed

In other ResMed news, Director Peter C. Farrell sold 8,000 shares of the business’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $225.00, for a total value of $1,800,000.00. Following the completion of the transaction, the director directly owned 52,773 shares in the company, valued at approximately $11,873,925. The trade was a 13.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $205.69, for a total value of $1,026,598.79. Following the completion of the transaction, the chief executive officer owned 466,256 shares of the company’s stock, valued at $95,904,196.64. The trade was a 1.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 22,973 shares of company stock valued at $4,885,436. 0.65% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on RMD shares. Rothschild & Co Redburn assumed coverage on ResMed in a research report on Wednesday, August 19th. They set a “neutral” rating and a $230.00 price target for the company. UBS Group reissued a “buy” rating and issued a $300.00 price objective on shares of ResMed in a research report on Tuesday, July 21st. Robert W. Baird set a $213.00 price target on ResMed in a report on Friday, August 7th. Weiss Ratings upgraded ResMed from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Finally, Citigroup reaffirmed a “neutral” rating and issued a $235.00 target price (down from $270.00) on shares of ResMed in a report on Sunday, July 12th. Seven research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, ResMed currently has an average rating of “Hold” and an average target price of $239.38.

ResMed Trading Up 2.0%

Shares of ResMed stock opened at $240.47 on Friday. The company has a 50-day moving average of $211.81 and a two-hundred day moving average of $219.18. The stock has a market cap of $34.69 billion, a PE ratio of 23.06, a price-to-earnings-growth ratio of 1.48 and a beta of 0.76. ResMed Inc. has a 12-month low of $180.26 and a 12-month high of $284.87. The company has a current ratio of 3.10, a quick ratio of 2.42 and a debt-to-equity ratio of 0.06.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, August 6th. The medical equipment provider reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.06. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. ResMed had a return on equity of 25.58% and a net margin of 26.94%.ResMed’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.55 earnings per share. On average, research analysts anticipate that ResMed Inc. will post 12.03 EPS for the current fiscal year.

ResMed Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, August 20th will be given a dividend of $0.66 per share. The ex-dividend date of this dividend is Thursday, August 20th. This is a positive change from ResMed’s previous quarterly dividend of $0.60. This represents a $2.64 annualized dividend and a yield of 1.1%. ResMed’s dividend payout ratio (DPR) is 25.31%.

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.