ResMed Inc. (NYSE:RMD) Stake Lessened by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its holdings in shares of ResMed Inc. (NYSE:RMD - Free Report) by 1.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 133,417 shares of the medical equipment provider's stock after selling 2,612 shares during the quarter. Victory Capital Management Inc. owned 0.09% of ResMed worth $29,865,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Global X Japan Co. Ltd. boosted its stake in ResMed by 121.4% during the 1st quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider's stock valued at $28,000 after acquiring an additional 68 shares during the last quarter. Colonial Trust Co SC raised its stake in shares of ResMed by 6,250.0% in 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 position in shares of ResMed during the fourth quarter worth about $33,000. Golden State Wealth Management LLC lifted its position in shares of ResMed by 384.8% during the first quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider's stock worth $36,000 after purchasing an additional 127 shares during the last quarter. Finally, Itau Unibanco Holding S.A. grew its stake 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 worth $38,000 after purchasing an additional 150 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on RMD shares. Wall Street Zen cut ResMed from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. UBS Group lowered their price target on ResMed from $290.00 to $285.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Piper Sandler reduced their price objective on ResMed from $260.00 to $248.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. KeyCorp set a $274.00 price objective on shares of ResMed in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. increased their target price on shares of ResMed from $286.00 to $290.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. One equities research 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. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $263.00.

ResMed Stock Performance

Shares of RMD traded up $4.15 during midday trading on Wednesday, hitting $271.55. 530,543 shares of the stock traded hands, compared to its average volume of 972,222. The business's 50 day moving average price is $251.53 and its two-hundred day moving average price is $237.65. The firm has a market capitalization of $39.82 billion, a PE ratio of 30.53, a price-to-earnings-growth ratio of 1.63 and a beta of 0.77. 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 Inc. has a 1-year low of $196.43 and a 1-year high of $272.03.

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

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.78%. ResMed's dividend payout ratio (DPR) is presently 23.79%.

Insider Transactions at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $242.25, for a total value of $484,500.00. Following the completion of the transaction, the director owned 71,218 shares of the company's stock, valued at approximately $17,252,560.50. This represents a 2.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Witte Jan De sold 2,000 shares of ResMed stock in a transaction dated 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 in the company, 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. Over the last three months, insiders sold 29,013 shares of company stock worth $7,238,913. Company insiders own 0.71% of the company's stock.

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.