Blair William & Co. IL Decreases Stock Holdings in ResMed Inc. (NYSE:RMD)

Key Points

• Blair William & Co. IL reduced its stake in ResMed Inc. by 3.7%, owning 241,997 shares valued at approximately $54.17 million at the end of the first quarter.
• Several institutional investors, including Invesco Ltd and Northern Trust Corp, have increased their holdings in ResMed, with Invesco boosting its stake by 32.2% in the last quarter.
• Analysts have recently upgraded ResMed's stock price targets, with UBS Group raising it to $325.00, while the consensus rating remains a "Moderate Buy" with a target price of $274.83.

Blair William & Co. IL lowered its stake in ResMed Inc. (NYSE:RMD - Free Report) by 3.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 241,997 shares of the medical equipment provider's stock after selling 9,258 shares during the quarter. Blair William & Co. IL owned 0.17% of ResMed worth $54,171,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Invesco Ltd. lifted its holdings in shares of ResMed by 32.2% during the 4th quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider's stock valued at $531,706,000 after buying an additional 566,046 shares during the period. Northern Trust Corp lifted its holdings in ResMed by 20.6% in the fourth quarter. Northern Trust Corp now owns 1,702,590 shares of the medical equipment provider's stock valued at $389,365,000 after acquiring an additional 290,664 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in ResMed by 28.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 954,612 shares of the medical equipment provider's stock valued at $218,310,000 after acquiring an additional 212,201 shares during the period. Los Angeles Capital Management LLC boosted its position in ResMed by 15.6% in the first quarter. Los Angeles Capital Management LLC now owns 773,159 shares of the medical equipment provider's stock worth $173,072,000 after purchasing an additional 104,251 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of ResMed by 9.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 742,412 shares of the medical equipment provider's stock valued at $169,789,000 after purchasing an additional 65,999 shares during the period. Hedge funds and other institutional investors own 54.98% of the company's stock.

Insider Transactions at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $242.25, for a total transaction of $484,500.00. Following the completion of the transaction, the director owned 71,218 shares of the company's stock, valued at $17,252,560.50. This represents a 2.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the firm's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $256.72, for a total value of $2,056,070.48. Following the transaction, the chief executive officer owned 455,503 shares of the company's stock, valued at approximately $116,936,730.16. The trade was a 1.73% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,013 shares of company stock valued at $7,238,913. 0.71% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on RMD. Piper Sandler increased their price objective on shares of ResMed from $248.00 to $270.00 and gave the stock a "neutral" rating in a research note on Friday. KeyCorp upped their target price on shares of ResMed from $274.00 to $298.00 and gave the company an "overweight" rating in a report on Friday. Stifel Nicolaus lifted their price target on shares of ResMed from $240.00 to $270.00 and gave the stock a "hold" rating in a research note on Friday. Royal Bank Of Canada boosted their price objective on shares of ResMed from $294.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday. Finally, UBS Group raised their target price on ResMed from $285.00 to $325.00 and gave the stock a "buy" rating in a report on Friday. One analyst has rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $274.83.

ResMed Trading Up 2.5%

Shares of RMD stock opened at $278.78 on Monday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.53 and a current ratio of 3.44. The stock has a fifty day simple moving average of $256.59 and a two-hundred day simple moving average of $240.39. The firm has a market capitalization of $40.88 billion, a PE ratio of 29.31, a PEG ratio of 1.72 and a beta of 0.77. ResMed Inc. has a 52-week low of $199.92 and a 52-week high of $281.90.

ResMed (NYSE:RMD - Get Free Report) last released its earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.08. The firm had revenue of $1.35 billion during the quarter, compared to analysts' expectations of $1.33 billion. ResMed had a return on equity of 25.62% and a net margin of 27.22%. The firm's revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the business posted $2.08 earnings per share. On average, analysts predict that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, August 14th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.9%. This is a boost from ResMed's previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Wednesday, August 13th. ResMed's payout ratio is presently 22.29%.

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.

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