4,837 Shares in ResMed Inc. $RMD Acquired by Runnymede Capital Advisors Inc.

Runnymede Capital Advisors Inc. acquired a new stake in shares of ResMed Inc. (NYSE:RMD) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,837 shares of the medical equipment provider’s stock, valued at approximately $1,165,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its stake in shares of ResMed by 52.6% in the 1st quarter. Jones Financial Companies Lllp now owns 2,882 shares of the medical equipment provider’s stock valued at $645,000 after purchasing an additional 994 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in ResMed during the second quarter worth $389,000. EverSource Wealth Advisors LLC increased its position in ResMed by 33.0% during the second quarter. EverSource Wealth Advisors LLC now owns 750 shares of the medical equipment provider’s stock worth $194,000 after buying an additional 186 shares during the last quarter. Guggenheim Capital LLC raised its holdings in ResMed by 1.8% during the second quarter. Guggenheim Capital LLC now owns 5,185 shares of the medical equipment provider’s stock valued at $1,338,000 after buying an additional 93 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in ResMed by 3.0% during the second quarter. First Trust Advisors LP now owns 115,610 shares of the medical equipment provider’s stock valued at $29,827,000 after buying an additional 3,390 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Citigroup upped their price target on ResMed from $330.00 to $345.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Royal Bank Of Canada raised their price objective on ResMed from $311.00 to $314.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. Weiss Ratings lowered ResMed from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, March 19th. KeyCorp reaffirmed an “overweight” rating and set a $302.00 target price on shares of ResMed in a research report on Friday, January 30th. Finally, Wall Street Zen downgraded ResMed from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, ResMed presently has an average rating of “Moderate Buy” and a consensus target price of $299.27.

Insider Activity at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $225.00, for a total transaction of $450,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $251.03, for a total value of $1,252,890.73. Following the sale, the chief executive officer owned 466,223 shares in the company, valued at approximately $117,035,959.69. This represents a 1.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 23,023 shares of company stock worth $5,843,111 in the last three months. 0.65% of the stock is owned by insiders.

ResMed Stock Performance

NYSE RMD opened at $224.23 on Monday. The company’s fifty day moving average is $246.52 and its two-hundred day moving average is $253.15. ResMed Inc. has a 52-week low of $199.92 and a 52-week high of $293.81. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.06 and a quick ratio of 2.32. The firm has a market capitalization of $32.67 billion, a price-to-earnings ratio of 22.18, a P/E/G ratio of 1.49 and a beta of 0.93.

ResMed (NYSE:RMD) last released its earnings results on Friday, January 30th. The medical equipment provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.13. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter last year, the company earned $2.43 earnings per share. The firm’s revenue was up 11.0% on a year-over-year basis. Equities research analysts forecast that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Thursday, February 12th were given a $0.60 dividend. The ex-dividend date was Thursday, February 12th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.1%. ResMed’s dividend payout ratio (DPR) is currently 23.74%.

ResMed Company 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.