ResMed Inc. (NYSE:RMD) Stock Holdings Increased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. grew its position in ResMed Inc. (NYSE:RMD - Free Report) by 20.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,415 shares of the medical equipment provider's stock after acquiring an additional 2,585 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in ResMed were worth $3,390,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. IFP Advisors Inc increased its stake in ResMed by 37.1% in the 4th quarter. IFP Advisors Inc now owns 373 shares of the medical equipment provider's stock valued at $85,000 after buying an additional 101 shares during the period. SVB Wealth LLC acquired a new stake in ResMed in the 4th quarter valued at about $257,000. Fisher Asset Management LLC lifted its stake in ResMed by 61.0% in the 4th quarter. Fisher Asset Management LLC now owns 43,028 shares of the medical equipment provider's stock valued at $9,840,000 after buying an additional 16,301 shares in the last quarter. US Bancorp DE lifted its position in shares of ResMed by 4.1% in the fourth quarter. US Bancorp DE now owns 31,574 shares of the medical equipment provider's stock valued at $7,221,000 after acquiring an additional 1,254 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of ResMed by 36.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,176 shares of the medical equipment provider's stock worth $270,000 after purchasing an additional 312 shares during the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

ResMed Stock Up 0.4%

Shares of RMD stock traded up $1.08 during mid-day trading on Thursday, reaching $256.96. 391,893 shares of the company were exchanged, compared to its average volume of 967,486. 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 business's 50 day simple moving average is $247.59 and its 200 day simple moving average is $235.70. The company has a market capitalization of $37.68 billion, a P/E ratio of 28.84, a P/E/G ratio of 1.60 and a beta of 0.77. ResMed Inc. has a fifty-two week low of $188.06 and a fifty-two week high of $263.05.

ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, beating analysts' consensus estimates of $2.36 by $0.01. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. ResMed had a net margin of 26.15% and a return on equity of 25.67%. The firm's revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.13 EPS. Research analysts predict that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Thursday, May 8th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend was Thursday, May 8th. ResMed's payout ratio is currently 23.79%.

Insiders Place Their Bets

In other news, Director Witte Jan De sold 2,000 shares of the business's stock in a transaction that occurred 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 sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the firm's stock in a transaction dated Wednesday, May 7th. The stock was 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 in the company, valued at approximately $17,252,560.50. The trade was a 2.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,013 shares of company stock valued at $6,863,532 in the last quarter. Insiders own 0.71% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Stifel Nicolaus cut their price target on ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a report on Wednesday, March 5th. Citigroup upgraded ResMed from a "neutral" rating to a "buy" rating in a report on Wednesday, March 5th. Mizuho set a $265.00 price objective on ResMed in a research note on Wednesday, April 16th. Royal Bank Of Canada increased their target price on ResMed from $247.00 to $255.00 and gave the company a "sector perform" rating in a research note on Thursday, April 24th. Finally, Morgan Stanley set a $286.00 price target on ResMed and gave the stock an "overweight" rating in a research report on Tuesday, May 20th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently 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.