Orion Capital Management LLC Has $677,000 Stake in ResMed Inc. (NYSE:RMD)

Orion Capital Management LLC cut its stake in shares of ResMed Inc. (NYSE:RMD) by 1.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,960 shares of the medical equipment provider’s stock after selling 50 shares during the period. Orion Capital Management LLC’s holdings in ResMed were worth $677,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Park Avenue Securities LLC raised its holdings in shares of ResMed by 101.1% during the fourth quarter. Park Avenue Securities LLC now owns 4,431 shares of the medical equipment provider’s stock worth $1,013,000 after acquiring an additional 2,228 shares in the last quarter. Merit Financial Group LLC acquired a new stake in shares of ResMed during the 4th quarter valued at about $460,000. Aaron Wealth Advisors LLC grew its stake in shares of ResMed by 25.2% in the 4th quarter. Aaron Wealth Advisors LLC now owns 1,607 shares of the medical equipment provider’s stock valued at $368,000 after buying an additional 323 shares in the last quarter. Perpetual Ltd acquired a new position in ResMed in the fourth quarter worth approximately $630,000. Finally, Atomi Financial Group Inc. bought a new position in ResMed during the fourth quarter valued at approximately $246,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Activity

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $227.71, for a total value of $455,420.00. Following the transaction, the director now directly owns 75,218 shares in the company, valued at approximately $17,127,890.78. This trade represents a 2.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kaushik Ghoshal sold 9,113 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $235.40, for a total value of $2,145,200.20. Following the sale, the insider now owns 9,725 shares of the company’s stock, valued at approximately $2,289,265. The trade was a 48.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,949 shares of company stock valued at $11,335,320 over the last three months. 0.71% of the stock is owned by insiders.

ResMed Price Performance

ResMed stock opened at $248.16 on Wednesday. The business’s fifty day moving average is $226.57 and its two-hundred day moving average is $234.27. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. The firm has a market cap of $36.39 billion, a P/E ratio of 29.30, a P/E/G ratio of 1.53 and a beta of 0.78. ResMed Inc. has a 52 week low of $179.42 and a 52 week high of $263.05.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.01. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. ResMed had a net margin of 25.34% and a return on equity of 26.17%. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.13 EPS. Equities research analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.85%. ResMed’s payout ratio is 23.79%.

Analyst Ratings Changes

Several analysts have recently issued reports on RMD shares. Mizuho set a $265.00 price target on ResMed in a research note on Wednesday, April 16th. Citigroup upgraded ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday, March 5th. Royal Bank of Canada upped their price objective on shares of ResMed from $247.00 to $255.00 and gave the stock a “sector perform” rating in a report on Thursday, April 24th. UBS Group decreased their price target on shares of ResMed from $290.00 to $285.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. boosted their price objective on ResMed from $286.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $258.83.

About ResMed

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.