Rhumbline Advisers Grows Stock Holdings in ResMed Inc. (NYSE:RMD)

Rhumbline Advisers lifted its stake in ResMed Inc. (NYSE:RMD - Free Report) by 3.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 306,459 shares of the medical equipment provider's stock after acquiring an additional 11,324 shares during the quarter. Rhumbline Advisers owned 0.21% of ResMed worth $68,601,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in RMD. Colonial Trust Co SC grew its position in ResMed by 6,250.0% during the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider's stock valued at $29,000 after buying an additional 125 shares during the period. Optiver Holding B.V. bought a new stake in ResMed during the fourth quarter valued at approximately $33,000. Itau Unibanco Holding S.A. grew its position in ResMed by 1,000.0% during 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 bought a new stake in ResMed during the fourth quarter valued at approximately $39,000. Finally, Coppell Advisory Solutions LLC grew its position in ResMed by 1,750.0% during the fourth quarter. Coppell Advisory Solutions LLC now owns 185 shares of the medical equipment provider's stock valued at $42,000 after buying an additional 175 shares during the period. 54.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on RMD. Stifel Nicolaus cut their target price on shares of ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a research report on Wednesday, March 5th. Wall Street Zen lowered shares of ResMed from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. UBS Group dropped their price target on shares of ResMed from $290.00 to $285.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Mizuho set a $265.00 price target on shares of ResMed in a research report on Wednesday, April 16th. Finally, Citigroup upgraded shares of ResMed from a "neutral" rating to a "buy" rating in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $259.33.

ResMed Price Performance

Shares of RMD stock traded up $2.58 during mid-day trading on Friday, hitting $252.27. The company had a trading volume of 458,629 shares, compared to its average volume of 1,011,342. ResMed Inc. has a 52-week low of $179.42 and a 52-week high of $263.05. The stock's 50 day moving average price is $232.85 and its 200-day moving average price is $234.65. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The company has a market capitalization of $36.99 billion, a P/E ratio of 29.78, a P/E/G ratio of 1.53 and a beta of 0.78.

ResMed (NYSE:RMD - Get Free Report) last released 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 firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the firm earned $2.13 earnings per share. The company's quarterly revenue was up 7.9% compared to the same quarter last year. Equities research analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend is Thursday, May 8th. ResMed's dividend payout ratio (DPR) is presently 23.79%.

Insider Transactions at ResMed

In related news, insider Kaushik Ghoshal sold 9,745 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the sale, the insider now owns 9,725 shares of the company's stock, valued at $2,327,289.75. This represents a 50.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Witte Jan De sold 2,000 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $243.47, for a total transaction of $486,940.00. Following the sale, the director now directly owns 5,806 shares in the company, valued at approximately $1,413,586.82. The trade was a 25.62% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,868 shares of company stock valued at $7,395,972. 0.71% of the stock is currently owned by corporate insiders.

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.