Aster Capital Management DIFC Ltd Acquires New Shares in ResMed Inc. $RMD

Aster Capital Management DIFC Ltd purchased a new position in shares of ResMed Inc. (NYSE:RMD) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,252 shares of the medical equipment provider’s stock, valued at approximately $616,000.

Other institutional investors have also modified their holdings of the company. Quadcap Wealth Management LLC raised its holdings in ResMed by 2.5% during the 2nd quarter. Quadcap Wealth Management LLC now owns 1,880 shares of the medical equipment provider’s stock worth $485,000 after buying an additional 45 shares during the period. NBT Bank N A NY increased its position in shares of ResMed by 22.9% during the third quarter. NBT Bank N A NY now owns 252 shares of the medical equipment provider’s stock worth $69,000 after acquiring an additional 47 shares in the last quarter. OFI Invest Asset Management raised its holdings in shares of ResMed by 10.4% during the third quarter. OFI Invest Asset Management now owns 509 shares of the medical equipment provider’s stock worth $139,000 after acquiring an additional 48 shares during the period. IMA Advisory Services Inc. lifted its position in ResMed by 52.7% in the 3rd quarter. IMA Advisory Services Inc. now owns 139 shares of the medical equipment provider’s stock valued at $38,000 after acquiring an additional 48 shares in the last quarter. Finally, New Wave Wealth Advisors LLC boosted its stake in ResMed by 2.8% in the 3rd quarter. New Wave Wealth Advisors LLC now owns 1,899 shares of the medical equipment provider’s stock worth $520,000 after purchasing an additional 52 shares during the period. Institutional investors own 54.98% of the company’s stock.

Insider Activity

In related news, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $273.78, for a total transaction of $1,366,435.98. Following the sale, the chief executive officer owned 466,223 shares in the company, valued at approximately $127,642,532.94. This trade represents a 1.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $251.31, for a total transaction of $502,620.00. Following the completion of the transaction, the director directly owned 64,773 shares in the company, valued at $16,278,102.63. This trade represents a 3.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 16,082 shares of company stock valued at $4,134,807 in the last ninety days. 0.65% of the stock is currently owned by company insiders.

ResMed Stock Up 1.7%

NYSE RMD opened at $256.73 on Friday. The company has a current ratio of 3.06, a quick ratio of 2.32 and a debt-to-equity ratio of 0.06. The company has a market cap of $37.40 billion, a price-to-earnings ratio of 25.39, a PEG ratio of 1.68 and a beta of 0.87. The company has a 50 day moving average of $253.81 and a 200-day moving average of $261.40. ResMed Inc. has a 1-year low of $199.92 and a 1-year high of $293.81.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, January 29th. The medical equipment provider reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.13. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. ResMed had a return on equity of 25.20% and a net margin of 27.53%.The company’s revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the company earned $2.43 EPS. On average, equities research analysts expect that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Thursday, February 12th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, February 12th. This represents a $2.40 annualized dividend and a yield of 0.9%. ResMed’s dividend payout ratio is currently 23.74%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Robert W. Baird set a $281.00 price target on ResMed in a research note on Friday, January 30th. Piper Sandler lifted their target price on ResMed from $270.00 to $275.00 and gave the company a “neutral” rating in a research report on Friday, January 30th. Stifel Nicolaus boosted their target price on ResMed from $260.00 to $265.00 and gave the company a “hold” rating in a research note on Friday, January 30th. Wells Fargo & Company increased their price objective on shares of ResMed from $265.00 to $270.00 and gave the stock an “equal weight” rating in a research note on Friday, January 30th. Finally, Mizuho decreased their target price on shares of ResMed from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $299.27.

ResMed Profile

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.