Synergy Asset Management LLC Invests $129,000 in ResMed Inc. (NYSE:RMD)

Synergy Asset Management LLC acquired a new position in ResMed Inc. (NYSE:RMD) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 business. Public Sector Pension Investment Board increased its holdings in shares of ResMed by 74.1% during the second quarter. Public Sector Pension Investment Board now owns 5,632 shares of the medical equipment provider’s stock valued at $1,078,000 after purchasing an additional 2,398 shares during the period. Creative Planning increased its stake in ResMed by 4.7% during the 2nd quarter. Creative Planning now owns 24,282 shares of the medical equipment provider’s stock valued at $4,648,000 after buying an additional 1,082 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in ResMed by 30.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,133 shares of the medical equipment provider’s stock valued at $982,000 after buying an additional 1,208 shares during the period. Quarry LP raised its position in shares of ResMed by 271.9% during the 2nd quarter. Quarry LP now owns 331 shares of the medical equipment provider’s stock worth $63,000 after buying an additional 242 shares in the last quarter. Finally, Cetera Investment Advisers lifted its stake in shares of ResMed by 26.8% in the 2nd quarter. Cetera Investment Advisers now owns 9,721 shares of the medical equipment provider’s stock worth $1,861,000 after acquiring an additional 2,053 shares during the period. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Price Performance

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 company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $37.82 billion, a P/E ratio of 34.12, a PEG ratio of 1.83 and a beta of 0.70. The stock has a fifty day moving average of $240.04 and a 200-day moving average of $235.84.

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

Insiders Place Their Bets

In other news, insider Justin Leong sold 6,160 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the completion of the sale, the insider now owns 21,718 shares in the company, valued at approximately $5,279,428.62. This represents a 22.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total value of $491,300.00. Following the completion of the transaction, the director now directly owns 81,218 shares in the company, valued at $19,951,201.70. The trade was a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,030 shares of company stock worth $2,702,687 in the last quarter. 0.71% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on RMD. Piper Sandler started coverage on ResMed in a report on Friday, January 10th. They set a “neutral” rating and a $252.00 target price on the stock. KeyCorp upped their price objective on ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a report on Friday, October 25th. The Goldman Sachs Group assumed coverage on shares of ResMed in a research report on Thursday, January 16th. They issued a “buy” rating on the stock. Finally, Robert W. Baird raised their price objective on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, ResMed presently has a consensus rating of “Moderate Buy” and a consensus price target of $238.40.

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.