ResMed Inc. (NYSE:RMD) Shares Sold by Orion Capital Management LLC

Orion Capital Management LLC lowered its stake in shares of ResMed Inc. (NYSE:RMD) by 5.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,555 shares of the medical equipment provider’s stock after selling 220 shares during the quarter. Orion Capital Management LLC’s holdings in ResMed were worth $612,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. MV Capital Management Inc. increased its holdings in ResMed by 39.0% in the 4th quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock worth $37,000 after buying an additional 60 shares during the period. Great Lakes Advisors LLC increased its holdings in ResMed by 2.6% in the 3rd quarter. Great Lakes Advisors LLC now owns 2,643 shares of the medical equipment provider’s stock worth $391,000 after buying an additional 68 shares during the period. Harfst & Associates Inc. increased its holdings in ResMed by 0.7% in the 3rd quarter. Harfst & Associates Inc. now owns 10,995 shares of the medical equipment provider’s stock worth $1,626,000 after buying an additional 73 shares during the period. Czech National Bank increased its holdings in ResMed by 0.3% in the 4th quarter. Czech National Bank now owns 25,762 shares of the medical equipment provider’s stock worth $4,432,000 after buying an additional 81 shares during the period. Finally, Alliance Wealth Advisors LLC UT boosted its position in ResMed by 5.9% in the 4th quarter. Alliance Wealth Advisors LLC UT now owns 1,567 shares of the medical equipment provider’s stock worth $270,000 after purchasing an additional 88 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insiders Place Their Bets

In related news, Director Peter C. Farrell sold 10,935 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the completion of the sale, the director now directly owns 157,404 shares of the company’s stock, valued at approximately $28,751,414.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Peter C. Farrell sold 10,935 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the completion of the transaction, the director now directly owns 157,404 shares in the company, valued at approximately $28,751,414.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Michael J. Rider sold 200 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $173.25, for a total value of $34,650.00. Following the transaction, the general counsel now owns 6,688 shares of the company’s stock, valued at $1,158,696. The disclosure for this sale can be found here. Insiders sold 11,641 shares of company stock valued at $2,137,958 in the last three months. 1.21% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

RMD has been the topic of several recent research reports. Mizuho restated a “buy” rating and issued a $215.00 price objective on shares of ResMed in a research report on Wednesday, March 27th. Needham & Company LLC upped their price objective on ResMed from $224.00 to $236.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Oppenheimer lowered their price objective on ResMed from $205.00 to $200.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. UBS Group increased their target price on ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. Finally, Royal Bank of Canada increased their target price on ResMed from $187.00 to $200.00 and gave the company a “sector perform” rating in a research report on Friday, April 26th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, ResMed has an average rating of “Moderate Buy” and a consensus target price of $202.80.

ResMed Price Performance

RMD stock traded up $2.16 during midday trading on Wednesday, reaching $216.15. The stock had a trading volume of 777,694 shares, compared to its average volume of 1,072,425. The company’s fifty day simple moving average is $188.47 and its 200 day simple moving average is $173.40. The company has a current ratio of 3.04, a quick ratio of 1.97 and a debt-to-equity ratio of 0.22. The company has a market cap of $31.75 billion, a price-to-earnings ratio of 32.98, a price-to-earnings-growth ratio of 2.70 and a beta of 0.67. ResMed Inc. has a 52-week low of $132.24 and a 52-week high of $240.09.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.22. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.17 billion. ResMed had a return on equity of 24.43% and a net margin of 20.91%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.68 EPS. As a group, sell-side analysts predict that ResMed Inc. will post 7.55 earnings per share for the current fiscal year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 9th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Wednesday, May 8th. ResMed’s dividend payout ratio (DPR) is presently 29.49%.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.