ResMed Inc. $RMD Shares Purchased by First Trust Advisors LP

First Trust Advisors LP increased its holdings in shares of ResMed Inc. (NYSE:RMD) by 1.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,537,825 shares of the medical equipment provider’s stock after buying an additional 20,233 shares during the period. First Trust Advisors LP owned about 1.06% of ResMed worth $345,211,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. State Street Corp grew its stake in shares of ResMed by 1.2% in the fourth quarter. State Street Corp now owns 6,625,408 shares of the medical equipment provider’s stock worth $1,595,862,000 after acquiring an additional 76,244 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of ResMed by 0.7% in the first quarter. Bank of New York Mellon Corp now owns 4,925,386 shares of the medical equipment provider’s stock valued at $1,105,651,000 after acquiring an additional 34,732 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of ResMed by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 4,302,906 shares of the medical equipment provider’s stock valued at $1,032,877,000 after acquiring an additional 51,218 shares in the last quarter. Morgan Stanley boosted its holdings in ResMed by 25.0% in the fourth quarter. Morgan Stanley now owns 2,891,697 shares of the medical equipment provider’s stock valued at $696,523,000 after purchasing an additional 578,559 shares during the period. Finally, Northern Trust Corp boosted its holdings in ResMed by 5.2% in the fourth quarter. Northern Trust Corp now owns 1,785,384 shares of the medical equipment provider’s stock valued at $430,045,000 after purchasing an additional 87,502 shares during the period. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Stock Performance

Shares of RMD stock opened at $195.68 on Wednesday. The company has a market cap of $28.38 billion, a P/E ratio of 18.87, a PEG ratio of 1.20 and a beta of 0.78. The firm has a fifty day moving average price of $199.23 and a 200 day moving average price of $225.89. The company has a current ratio of 3.01, a quick ratio of 2.33 and a debt-to-equity ratio of 0.06. ResMed Inc. has a 12 month low of $180.26 and a 12 month high of $293.81.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.07. The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.42 billion. ResMed had a return on equity of 25.35% and a net margin of 27.44%.ResMed’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period last year, the firm earned $2.37 earnings per share. Sell-side analysts predict that ResMed Inc. will post 11.13 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th were issued a $0.60 dividend. The ex-dividend date was Thursday, May 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.2%. ResMed’s dividend payout ratio is presently 23.14%.

Insider Buying and Selling at ResMed

In related news, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $218.55, for a total value of $1,090,783.05. Following the completion of the transaction, the chief executive officer directly owned 466,223 shares of the company’s stock, valued at $101,893,036.65. This represents a 1.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 14,973 shares of company stock worth $3,096,067. 0.65% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on RMD shares. KeyCorp cut their price target on ResMed from $290.00 to $266.00 and set an “overweight” rating on the stock in a report on Monday, June 22nd. Royal Bank Of Canada cut ResMed from an “outperform” rating to a “sector perform” rating and set a $234.00 price objective for the company. in a research note on Thursday, July 16th. Citigroup reissued a “neutral” rating and set a $235.00 price objective (down from $270.00) on shares of ResMed in a research report on Sunday, July 12th. Morgan Stanley restated an “equal weight” rating and set a $230.00 target price (down from $286.00) on shares of ResMed in a research note on Wednesday, June 17th. Finally, Wells Fargo & Company reduced their target price on shares of ResMed from $227.00 to $225.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $246.25.

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.