Altium Capital Management LLC Buys New Shares in ResMed Inc. (NYSE:RMD)

Altium Capital Management LLC acquired a new position in ResMed Inc. (NYSE:RMD) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 26,000 shares of the medical equipment provider’s stock, valued at approximately $5,946,000. ResMed accounts for 1.7% of Altium Capital Management LLC’s holdings, making the stock its 20th largest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. OFI Invest Asset Management bought a new stake in ResMed in the fourth quarter valued at $39,000. BankPlus Trust Department purchased a new stake in shares of ResMed in the 4th quarter worth about $44,000. Rosenberg Matthew Hamilton bought a new stake in shares of ResMed during the 4th quarter valued at about $54,000. SBI Securities Co. Ltd. purchased a new position in shares of ResMed during the fourth quarter valued at about $67,000. Finally, Kentucky Trust Co bought a new position in ResMed in the fourth quarter worth about $82,000. Institutional investors own 54.98% of the company’s stock.

Analyst Ratings Changes

RMD has been the topic of several recent research reports. KeyCorp upped their price target on ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday. Citigroup raised shares of ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 5th. Morgan Stanley initiated coverage on shares of ResMed in a report on Wednesday, March 19th. They issued an “overweight” rating and a $280.00 price objective on the stock. Finally, UBS Group upgraded shares of ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $251.00.

Insider Buying and Selling

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $219.74, for a total transaction of $439,480.00. Following the sale, the director now directly owns 73,218 shares in the company, valued at $16,088,923.32. This represents a 2.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $209.85, for a total value of $1,680,688.65. Following the completion of the sale, the chief executive officer now owns 455,472 shares of the company’s stock, valued at approximately $95,580,799.20. This represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,013 shares of company stock worth $11,298,816. Corporate insiders own 0.71% of the company’s stock.

ResMed Price Performance

NYSE RMD opened at $212.89 on Friday. The stock has a market cap of $31.27 billion, a price-to-earnings ratio of 25.13, a PEG ratio of 1.53 and a beta of 0.75. ResMed Inc. has a 12 month low of $176.33 and a 12 month high of $263.05. The company’s 50 day moving average is $223.61 and its two-hundred day moving average is $234.69. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. As a group, research analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were issued a $0.53 dividend. The ex-dividend date was Thursday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 1.00%. ResMed’s dividend payout ratio (DPR) is 25.03%.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company 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 ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.