ResMed Inc. (NYSE:RMD) Shares Purchased by QRG Capital Management Inc.

QRG Capital Management Inc. grew its holdings in shares of ResMed Inc. (NYSE:RMD - Free Report) by 269.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 65,725 shares of the medical equipment provider's stock after acquiring an additional 47,913 shares during the quarter. QRG Capital Management Inc.'s holdings in ResMed were worth $14,712,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in RMD. Howard Capital Management Inc. boosted its position in shares of ResMed by 5.3% during the 4th quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider's stock valued at $206,000 after acquiring an additional 45 shares during the last quarter. CVA Family Office LLC lifted its stake in shares of ResMed by 29.8% during the 1st quarter. CVA Family Office LLC now owns 209 shares of the medical equipment provider's stock worth $47,000 after acquiring an additional 48 shares during the last quarter. Central Pacific Bank Trust Division grew its holdings in shares of ResMed by 9.7% in the first quarter. Central Pacific Bank Trust Division now owns 565 shares of the medical equipment provider's stock worth $126,000 after purchasing an additional 50 shares during the last quarter. Faithward Advisors LLC increased its position in shares of ResMed by 4.3% during the fourth quarter. Faithward Advisors LLC now owns 1,279 shares of the medical equipment provider's stock worth $292,000 after acquiring an additional 53 shares during the period. Finally, Portside Wealth Group LLC raised its position in ResMed by 3.8% during the 1st quarter. Portside Wealth Group LLC now owns 1,457 shares of the medical equipment provider's stock valued at $326,000 after purchasing an additional 54 shares in the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RMD has been the topic of several analyst reports. Citigroup upgraded ResMed from a "neutral" rating to a "buy" rating in a research note on Wednesday, March 5th. Stifel Nicolaus reduced their price objective on ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a research note on Wednesday, March 5th. Morgan Stanley set a $286.00 target price on shares of ResMed and gave the company an "overweight" rating in a research report on Tuesday, May 20th. JPMorgan Chase & Co. raised their price objective on shares of ResMed from $286.00 to $290.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Finally, Mizuho set a $265.00 price target on ResMed in a report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $259.33.

Insider Activity

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $219.74, for a total value of $439,480.00. Following the sale, the director now directly owns 73,218 shares in the company, valued at approximately $16,088,923.32. This trade represents a 2.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 455,503 shares in the company, valued at approximately $114,426,908.63. This trade represents a 1.73% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 30,132 shares of company stock valued at $7,075,837. Company insiders own 0.71% of the company's stock.

ResMed Stock Up 1.4%

Shares of NYSE:RMD traded up $3.44 during mid-day trading on Wednesday, hitting $253.53. 132,393 shares of the company traded hands, compared to its average volume of 1,004,151. ResMed Inc. has a 52-week low of $179.42 and a 52-week high of $263.05. The firm has a market cap of $37.17 billion, a P/E ratio of 28.42, a PEG ratio of 1.73 and a beta of 0.78. 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 firm's 50 day simple moving average is $238.42 and its 200 day simple moving average is $234.76.

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

ResMed Announces Dividend

The firm 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. The ex-dividend date was Thursday, May 8th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.84%. ResMed's payout ratio is currently 23.79%.

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.