Stephens Investment Management Group LLC Boosts Position in ResMed Inc. (NYSE:RMD)

Stephens Investment Management Group LLC increased its holdings in ResMed Inc. (NYSE:RMD - Free Report) by 7.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 357,985 shares of the medical equipment provider's stock after purchasing an additional 25,485 shares during the quarter. ResMed accounts for 1.2% of Stephens Investment Management Group LLC's investment portfolio, making the stock its 28th biggest position. Stephens Investment Management Group LLC owned 0.24% of ResMed worth $80,135,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in RMD. Global X Japan Co. Ltd. raised its position in ResMed by 121.4% in the 1st quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider's stock worth $28,000 after purchasing an additional 68 shares during the period. Colonial Trust Co SC boosted 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 in the last quarter. Optiver Holding B.V. bought a new stake in shares of ResMed during the 4th quarter valued at about $33,000. Golden State Wealth Management LLC boosted its stake in shares of ResMed by 384.8% during the 1st quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider's stock valued at $36,000 after purchasing an additional 127 shares in the last quarter. Finally, Itau Unibanco Holding S.A. boosted 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 in the last quarter. Hedge funds and other institutional investors own 54.98% of the company's stock.

Insider Activity at ResMed

In related news, 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 owned 5,806 shares of the company's stock, valued at $1,413,586.82. This represents a 25.62% 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 Peter C. Farrell sold 945 shares of the stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $255.49, for a total transaction of $241,438.05. Following the completion of the sale, the director directly owned 68,273 shares in the company, valued at approximately $17,443,068.77. This represents a 1.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,013 shares of company stock valued at $7,238,913 over the last 90 days. 0.71% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Wall Street Zen lowered shares of ResMed from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Morgan Stanley set a $286.00 price objective on shares of ResMed and gave the stock an "overweight" rating in a research note on Tuesday, May 20th. Royal Bank Of Canada raised shares of ResMed from a "sector perform" rating to an "outperform" rating and lifted their target price for the stock from $255.00 to $294.00 in a report on Tuesday. Piper Sandler decreased their target price on shares of ResMed from $260.00 to $248.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of ResMed from $286.00 to $290.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, ResMed presently has an average rating of "Moderate Buy" and a consensus price target of $263.00.

ResMed Price Performance

Shares of RMD traded up $1.99 during mid-day trading on Wednesday, reaching $254.00. The stock had a trading volume of 829,576 shares, compared to its average volume of 968,215. The firm has a market cap of $37.24 billion, a price-to-earnings ratio of 28.51, a PEG ratio of 1.58 and a beta of 0.77. ResMed Inc. has a 12 month low of $196.43 and a 12 month high of $263.05. The business has a fifty day moving average of $250.83 and a 200 day moving average of $237.02. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.49 and a current ratio of 3.41.

ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share for the quarter, topping analysts' consensus estimates of $2.36 by $0.01. ResMed had a net margin of 26.15% and a return on equity of 25.67%. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the prior year, the business posted $2.13 earnings per share. The company's revenue was up 7.9% on a year-over-year basis. Equities analysts predict that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 8th were given a dividend of $0.53 per share. The ex-dividend date was Thursday, May 8th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.83%. ResMed's dividend payout ratio is 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.