Rhumbline Advisers Acquires 11,324 Shares of ResMed Inc. (NYSE:RMD)

Rhumbline Advisers boosted its position in shares of ResMed Inc. (NYSE:RMD - Free Report) by 3.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 306,459 shares of the medical equipment provider's stock after buying an additional 11,324 shares during the quarter. Rhumbline Advisers owned approximately 0.21% of ResMed worth $68,601,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Colonial Trust Co SC raised its holdings in ResMed by 6,250.0% during the 4th quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider's stock worth $29,000 after purchasing an additional 125 shares during the last quarter. Optiver Holding B.V. bought a new stake in shares of ResMed during the fourth quarter worth approximately $33,000. Itau Unibanco Holding S.A. lifted its holdings in ResMed by 1,000.0% in the fourth quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider's stock valued at $38,000 after buying an additional 150 shares during the period. OFI Invest Asset Management acquired a new position in shares of ResMed in the 4th quarter valued at $39,000. Finally, Coppell Advisory Solutions LLC boosted its position in shares of ResMed by 1,750.0% in the 4th quarter. Coppell Advisory Solutions LLC now owns 185 shares of the medical equipment provider's stock worth $42,000 after purchasing an additional 175 shares during the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

Insider Activity at ResMed

In other news, CEO Michael J. Farrell sold 8,009 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $229.20, for a total value of $1,835,662.80. Following the sale, the chief executive officer now directly owns 455,472 shares in the company, valued at approximately $104,394,182.40. This trade represents a 1.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Witte Jan De sold 2,000 shares of the company'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 transaction of $486,940.00. Following the transaction, the director now owns 5,806 shares of the company's stock, valued at approximately $1,413,586.82. This represents a 25.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,877 shares of company stock valued at $9,231,634 over the last three months. 0.71% of the stock is owned by insiders.

ResMed Stock Performance

NYSE:RMD traded down $0.24 during mid-day trading on Thursday, reaching $249.70. 626,314 shares of the company's stock were exchanged, compared to its average volume of 1,010,288. ResMed Inc. has a one year low of $179.42 and a one year high of $263.05. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. The business's fifty day simple moving average is $231.73 and its two-hundred day simple moving average is $234.48. The firm has a market capitalization of $36.61 billion, a PE ratio of 29.48, a price-to-earnings-growth ratio of 1.53 and a beta of 0.78.

ResMed (NYSE:RMD - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, topping the consensus estimate of $2.36 by $0.01. ResMed had a net margin of 25.34% and a return on equity of 26.17%. The company had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.28 billion. During the same period last year, the firm earned $2.13 earnings per share. The business's revenue for the quarter was up 7.9% on a year-over-year basis. Analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 8th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Thursday, May 8th. ResMed's dividend payout ratio (DPR) is presently 23.79%.

Analyst Ratings Changes

Several equities analysts have weighed in on RMD shares. Piper Sandler cut their target price on ResMed from $260.00 to $248.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Mizuho set a $265.00 price target on shares of ResMed in a report on Wednesday, April 16th. Stifel Nicolaus decreased their price target on shares of ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a research note on Wednesday, March 5th. Wall Street Zen lowered ResMed from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Finally, JPMorgan Chase & Co. boosted 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. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, ResMed has a consensus rating of "Moderate Buy" and a consensus price target 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.