ResMed Inc. $RMD Shares Bought by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP increased its stake in ResMed by 2.4% in the first quarter, buying 23,674 additional shares and bringing its total to just over 1.0 million shares valued at about $225.4 million.
• ResMed reported better-than-expected quarterly results, with EPS of $2.86 versus the $2.79 estimate and revenue of $1.43 billion, up 10.8% from a year earlier.
• The company also paid a quarterly dividend of $0.60 per share and has continued to draw mixed analyst sentiment, with an average rating of Moderate Buy and an average target price of $246.25.

Dimensional Fund Advisors LP grew its stake in ResMed Inc. (NYSE:RMD - Free Report) by 2.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,004,218 shares of the medical equipment provider's stock after buying an additional 23,674 shares during the quarter. Dimensional Fund Advisors LP owned 0.69% of ResMed worth $225,389,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. International Assets Investment Management LLC purchased a new stake in shares of ResMed in the 4th quarter valued at approximately $25,000. WFA of San Diego LLC purchased a new stake in shares of ResMed during the 2nd quarter worth $26,000. Imprint Wealth LLC purchased a new stake in shares of ResMed during the 3rd quarter worth $26,000. ORG Partners LLC grew its stake in shares of ResMed by 181.6% during the fourth quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider's stock worth $26,000 after purchasing an additional 69 shares in the last quarter. Finally, Sunbelt Securities Inc. acquired a new position in shares of ResMed during the third quarter worth $31,000. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Price Performance

Shares of RMD opened at $191.83 on Friday. ResMed Inc. has a 1-year low of $180.26 and a 1-year high of $293.81. The stock has a market cap of $27.83 billion, a PE ratio of 18.50, a price-to-earnings-growth ratio of 1.21 and a beta of 0.78. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.01 and a quick ratio of 2.33. The firm has a fifty day moving average price of $198.83 and a 200 day moving average price of $225.18.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.79 by $0.07. ResMed had a return on equity of 25.35% and a net margin of 27.44%.The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the company posted $2.37 earnings per share. The business's quarterly revenue was up 10.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that ResMed Inc. will post 11.13 EPS for the current year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, May 14th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Thursday, May 14th. ResMed's dividend payout ratio (DPR) is currently 23.14%.

Wall Street Analysts Forecast Growth

RMD has been the topic of a number of analyst reports. Jefferies Financial Group cut their price target on ResMed from $240.00 to $225.00 and set a "hold" rating on the stock in a research note on Friday, July 10th. KeyCorp lowered their price objective on ResMed from $290.00 to $266.00 and set an "overweight" rating for the company in a research report on Monday, June 22nd. The Goldman Sachs Group reiterated a "buy" rating on shares of ResMed in a report on Wednesday, July 1st. Mizuho cut their target price on ResMed from $235.00 to $220.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 15th. Finally, Robert W. Baird set a $225.00 target price on ResMed in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, ResMed currently has an average rating of "Moderate Buy" and an average target price of $246.25.

Insider Transactions at ResMed

In other ResMed news, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $218.55, for a total transaction of $1,090,783.05. Following the transaction, the chief executive officer owned 466,223 shares of the company's stock, valued at $101,893,036.65. The trade was a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 14,973 shares of company stock worth $3,096,067. Company insiders own 0.65% of the company's stock.

ResMed Company Profile

ResMed NYSE: RMD is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed's product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.

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