ProShare Advisors LLC Acquires 2,410 Shares of ResMed Inc. (NYSE:RMD)

ProShare Advisors LLC lifted its stake in shares of ResMed Inc. (NYSE:RMD - Free Report) by 10.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 26,631 shares of the medical equipment provider's stock after purchasing an additional 2,410 shares during the quarter. ProShare Advisors LLC's holdings in ResMed were worth $6,090,000 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 stake in shares of ResMed by 6,250.0% during the 4th quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider's stock valued at $29,000 after purchasing an additional 125 shares during the period. Optiver Holding B.V. bought a new stake in shares of ResMed during the 4th quarter valued at $33,000. Itau Unibanco Holding S.A. raised its stake in shares of ResMed by 1,000.0% during the 4th quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider's stock valued at $38,000 after purchasing an additional 150 shares during the period. OFI Invest Asset Management bought a new stake in shares of ResMed during the 4th quarter valued at $39,000. Finally, Coppell Advisory Solutions LLC raised its stake in shares of ResMed by 1,750.0% during the 4th quarter. Coppell Advisory Solutions LLC now owns 185 shares of the medical equipment provider's stock valued at $42,000 after purchasing an additional 175 shares during the period. 54.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Citigroup upgraded ResMed from a "neutral" rating to a "buy" rating in a research note on Wednesday, March 5th. Stifel Nicolaus decreased their price objective on ResMed from $250.00 to $240.00 and set a "hold" rating on the stock in a research note on Wednesday, March 5th. UBS Group decreased their price objective on ResMed from $290.00 to $285.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Royal Bank of Canada boosted their price objective 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, Needham & Company LLC restated a "hold" rating on shares of ResMed in a research note on Friday, January 31st. 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 issued a strong buy rating to the company's stock. According to data from MarketBeat.com, ResMed presently has a consensus rating of "Moderate Buy" and a consensus target price of $259.33.

Insider Transactions at ResMed

In related news, Director Witte Jan De sold 2,000 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $243.47, for a total transaction of $486,940.00. Following the completion of the sale, the director now directly owns 5,806 shares in the company, valued at $1,413,586.82. This represents a 25.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kaushik Ghoshal sold 9,113 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $235.40, for a total value of $2,145,200.20. Following the sale, the insider now owns 9,725 shares of the company's stock, valued at $2,289,265. This represents a 48.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 50,949 shares of company stock worth $11,822,260. 0.71% of the stock is currently owned by corporate insiders.

ResMed Price Performance

Shares of RMD traded down $2.46 during midday trading on Friday, reaching $243.03. The stock had a trading volume of 558,144 shares, compared to its average volume of 1,023,468. The company's 50-day moving average is $227.88 and its 200 day moving average is $234.26. ResMed Inc. has a 12-month low of $179.42 and a 12-month high of $263.05. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $35.63 billion, a price-to-earnings ratio of 28.69, a price-to-earnings-growth ratio of 1.53 and a beta of 0.78.

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

ResMed Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Thursday, May 8th. ResMed's payout ratio is currently 23.79%.

About ResMed

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.