Aster Capital Management DIFC Ltd Takes $616,000 Position in ResMed Inc. $RMD

Aster Capital Management DIFC Ltd acquired a new position in shares of ResMed Inc. (NYSE:RMD) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 2,252 shares of the medical equipment provider’s stock, valued at approximately $616,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. SJS Investment Consulting Inc. boosted its position in ResMed by 1,433.3% in the third quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 86 shares in the last quarter. WFA of San Diego LLC bought a new position in shares of ResMed in the 2nd quarter valued at $26,000. Westside Investment Management Inc. boosted its holdings in shares of ResMed by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 132 shares of the medical equipment provider’s stock valued at $36,000 after acquiring an additional 66 shares in the last quarter. GoalVest Advisory LLC acquired a new stake in shares of ResMed during the 3rd quarter valued at $37,000. Finally, IMA Advisory Services Inc. increased its holdings in ResMed by 52.7% in the 3rd quarter. IMA Advisory Services Inc. now owns 139 shares of the medical equipment provider’s stock worth $38,000 after purchasing an additional 48 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on RMD. Royal Bank Of Canada lifted their price target on ResMed from $311.00 to $314.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. UBS Group reiterated a “buy” rating and set a $345.00 target price on shares of ResMed in a research report on Friday, December 12th. Mizuho reduced their target price on shares of ResMed from $310.00 to $300.00 and set an “outperform” rating on the stock in a report on Friday, October 31st. Citigroup raised their price target on shares of ResMed from $330.00 to $345.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Finally, KeyCorp reiterated an “overweight” rating and set a $302.00 price target on shares of ResMed in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $299.27.

Insiders Place Their Bets

In other news, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $248.46, for a total transaction of $1,240,063.86. Following the completion of the transaction, the chief executive officer directly owned 466,223 shares in the company, valued at $115,837,766.58. This trade represents a 1.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $251.31, for a total transaction of $502,620.00. Following the completion of the sale, the director owned 64,773 shares in the company, valued at $16,278,102.63. This represents a 3.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 16,082 shares of company stock worth $4,134,807 over the last ninety days. Insiders own 0.65% of the company’s stock.

ResMed Stock Performance

Shares of ResMed stock opened at $256.73 on Friday. The business has a 50-day simple moving average of $253.81 and a 200 day simple moving average of $261.40. ResMed Inc. has a one year low of $199.92 and a one year 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 $37.40 billion, a price-to-earnings ratio of 25.39, a PEG ratio of 1.68 and a beta of 0.87.

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

ResMed Announces Dividend

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

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.