Exchange Traded Concepts LLC Has $566,000 Stake in ResMed Inc. (NYSE:RMD)

Exchange Traded Concepts LLC grew its stake in shares of ResMed Inc. (NYSE:RMD - Free Report) by 393.0% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 2,529 shares of the medical equipment provider's stock after buying an additional 2,016 shares during the period. Exchange Traded Concepts LLC's holdings in ResMed were worth $566,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC grew its holdings in shares of ResMed by 23,982.6% in the 1st quarter. GAMMA Investing LLC now owns 733,556 shares of the medical equipment provider's stock worth $164,207,000 after purchasing an additional 730,510 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of ResMed by 32.2% in the 4th quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider's stock worth $531,706,000 after acquiring an additional 566,046 shares in the last quarter. Norges Bank bought a new stake in ResMed during the 4th quarter worth approximately $118,605,000. Captrust Financial Advisors increased its holdings in ResMed by 813.4% during the 4th quarter. Captrust Financial Advisors now owns 443,340 shares of the medical equipment provider's stock valued at $101,387,000 after purchasing an additional 394,803 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in ResMed by 133.6% in the 4th quarter. AQR Capital Management LLC now owns 625,054 shares of the medical equipment provider's stock valued at $142,944,000 after purchasing an additional 357,466 shares during the last quarter. 54.98% of the stock is owned by institutional investors.

ResMed Trading Up 0.8%

RMD stock traded up $2.13 during midday trading on Wednesday, reaching $258.04. The company's stock had a trading volume of 945,221 shares, compared to its average volume of 979,657. The business's 50-day simple moving average is $242.35 and its 200-day simple moving average is $235.09. The company has a quick ratio of 2.49, a current ratio of 3.41 and a debt-to-equity ratio of 0.12. ResMed Inc. has a 52 week low of $183.84 and a 52 week high of $263.05. The stock has a market cap of $37.84 billion, a PE ratio of 28.18, a price-to-earnings-growth ratio of 1.76 and a beta of 0.78.

ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share for the quarter, beating 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 company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the business posted $2.13 EPS. The firm's quarterly revenue was up 7.9% on a year-over-year basis. As a group, sell-side analysts expect that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Thursday, May 8th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date was Thursday, May 8th. ResMed's dividend payout ratio (DPR) is currently 23.79%.

Insider Transactions at ResMed

In related news, CEO Michael J. Farrell sold 8,009 shares of the company's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $251.21, for a total value of $2,011,940.89. Following the completion of the sale, the chief executive officer now owns 455,503 shares in the company, valued at $114,426,908.63. This represents a 1.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $242.25, for a total value of $484,500.00. Following the transaction, the director now owns 71,218 shares in the company, valued at approximately $17,252,560.50. This represents a 2.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,132 shares of company stock worth $7,075,837. 0.71% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

RMD has been the topic of several research analyst reports. Wall Street Zen cut ResMed from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. KeyCorp set a $274.00 price target on shares of ResMed in a research report on Thursday, April 24th. Citigroup upgraded shares of ResMed from a "neutral" rating to a "buy" rating in a research report on Wednesday, March 5th. UBS Group dropped their target price on shares of ResMed from $290.00 to $285.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Finally, Mizuho set a $265.00 price target on shares of ResMed in a research note on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $259.33.

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.