Synergy Asset Management LLC Purchases New Position in ResMed Inc. (NYSE:RMD)

Synergy Asset Management LLC acquired a new position in shares of ResMed Inc. (NYSE:RMD) during the 4th quarter, Holdings Channel.com reports. The fund acquired 529 shares of the medical equipment provider’s stock, valued at approximately $129,000.

Several other large investors have also recently added to or reduced their stakes in the company. Swedbank AB boosted its holdings in shares of ResMed by 0.8% in the 4th quarter. Swedbank AB now owns 72,891 shares of the medical equipment provider’s stock worth $16,669,000 after acquiring an additional 601 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in ResMed by 22.1% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 72,459 shares of the medical equipment provider’s stock worth $16,571,000 after purchasing an additional 13,134 shares in the last quarter. SteelPeak Wealth LLC bought a new stake in shares of ResMed during the fourth quarter worth $204,000. Pacer Advisors Inc. increased its stake in shares of ResMed by 52.3% in the fourth quarter. Pacer Advisors Inc. now owns 44,692 shares of the medical equipment provider’s stock valued at $10,221,000 after buying an additional 15,345 shares in the last quarter. Finally, KBC Group NV raised its holdings in shares of ResMed by 2.1% in the fourth quarter. KBC Group NV now owns 74,253 shares of the medical equipment provider’s stock valued at $16,981,000 after buying an additional 1,522 shares during the last quarter. 54.98% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $245.65, for a total value of $491,300.00. Following the completion of the sale, the director now directly owns 81,218 shares in the company, valued at $19,951,201.70. This represents a 2.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Witte Jan De sold 796 shares of ResMed stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total value of $198,052.76. Following the transaction, the director now owns 6,723 shares in the company, valued at $1,672,749.63. This trade represents a 10.59 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,030 shares of company stock worth $2,702,687. Company insiders own 0.71% of the company’s stock.

ResMed Trading Up 1.9 %

NYSE RMD opened at $257.63 on Friday. ResMed Inc. has a 12 month low of $170.56 and a 12 month high of $263.05. The stock has a 50-day simple moving average of $240.04 and a 200 day simple moving average of $235.84. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $37.82 billion, a PE ratio of 34.12, a P/E/G ratio of 1.83 and a beta of 0.70.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.14. ResMed had a return on equity of 25.53% and a net margin of 23.15%. Research analysts forecast that ResMed Inc. will post 9.35 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on RMD shares. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Stifel Nicolaus began coverage on shares of ResMed in a report on Friday, December 13th. They issued a “hold” rating and a $250.00 price target for the company. KeyCorp upped their price objective on ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Piper Sandler began coverage on ResMed in a research note on Friday, January 10th. They issued a “neutral” rating and a $252.00 target price for the company. Finally, Royal Bank of Canada upped their price target on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $238.40.

ResMed Company 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.