Crossmark Global Holdings Inc. Boosts Stake in ResMed Inc. (NYSE:RMD)

Crossmark Global Holdings Inc. lifted its stake in shares of ResMed Inc. (NYSE:RMD - Free Report) by 60.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,959 shares of the medical equipment provider's stock after acquiring an additional 4,116 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in ResMed were worth $2,453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Fullcircle Wealth LLC acquired a new stake in ResMed during the first quarter worth approximately $227,000. Pacific Point Advisors LLC grew its stake in ResMed by 10.8% in the first quarter. Pacific Point Advisors LLC now owns 5,879 shares of the medical equipment provider's stock valued at $1,316,000 after acquiring an additional 573 shares during the period. Argentarii LLC acquired a new stake in ResMed in the first quarter valued at approximately $389,000. Concurrent Investment Advisors LLC grew its stake in ResMed by 19.7% in the first quarter. Concurrent Investment Advisors LLC now owns 2,167 shares of the medical equipment provider's stock valued at $485,000 after acquiring an additional 356 shares during the period. Finally, World Investment Advisors grew its stake in ResMed by 5.1% in the first quarter. World Investment Advisors now owns 3,500 shares of the medical equipment provider's stock valued at $783,000 after acquiring an additional 169 shares during the period. 54.98% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Witte Jan De sold 2,000 shares of ResMed stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $243.47, for a total value of $486,940.00. Following the completion of the transaction, the director directly owned 5,806 shares in the company, valued at approximately $1,413,586.82. The trade was a 25.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction on 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 completion of the transaction, the chief executive officer owned 455,503 shares of the company's stock, valued at approximately $116,936,730.16. This trade represents a 1.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,013 shares of company stock worth $7,238,913. 0.71% of the stock is owned by corporate insiders.

ResMed Stock Performance

NYSE:RMD traded down $3.92 during trading hours on Friday, reaching $254.15. The stock had a trading volume of 517,805 shares, compared to its average volume of 968,637. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.49 and a current ratio of 3.41. The stock has a 50 day simple moving average of $250.36 and a 200 day simple moving average of $236.72. ResMed Inc. has a 12-month low of $196.43 and a 12-month high of $263.05. The stock has a market cap of $37.27 billion, a P/E ratio of 28.52, a price-to-earnings-growth ratio of 1.62 and a beta of 0.77.

ResMed (NYSE:RMD - Get Free Report) last released its earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.36 by $0.01. ResMed had a return on equity of 25.67% and a net margin of 26.15%. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period last year, the business posted $2.13 earnings per share. The business's revenue for the quarter was up 7.9% on a year-over-year basis. On average, research analysts forecast that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend was Thursday, May 8th. ResMed's dividend payout ratio (DPR) is presently 23.79%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Mizuho set a $265.00 price objective on ResMed in a research note on Wednesday, April 16th. JPMorgan Chase & Co. raised their price objective on ResMed from $286.00 to $290.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. UBS Group dropped their target price on ResMed from $290.00 to $285.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Royal Bank Of Canada raised their target price on ResMed from $247.00 to $255.00 and gave the company a "sector perform" rating in a report on Thursday, April 24th. Finally, KeyCorp set a $274.00 target price on ResMed in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, ResMed has an average rating of "Moderate Buy" and an average target price of $259.33.

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.