Vident Advisory LLC Grows Position in ResMed Inc. $RMD

Key Points

• Vident Advisory LLC increased its holdings in ResMed Inc. by 18.4%, acquiring an additional 3,153 shares, bringing their total to 20,281 shares valued at approximately $4.54 million.
• ResMed recently reported earnings of $2.55 per share, exceeding estimates, with a revenue increase of 10.2% year-over-year, amounting to $1.35 billion for the quarter.
• The company declared a quarterly dividend of $0.60, an increase from $0.53, representing an annualized yield of 0.9% with a payout ratio of 25.24%.

Vident Advisory LLC boosted its position in ResMed Inc. (NYSE:RMD - Free Report) by 18.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,281 shares of the medical equipment provider's stock after buying an additional 3,153 shares during the quarter. Vident Advisory LLC's holdings in ResMed were worth $4,540,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of RMD. Smartleaf Asset Management LLC lifted its holdings in shares of ResMed by 3.9% in the first quarter. Smartleaf Asset Management LLC now owns 1,222 shares of the medical equipment provider's stock valued at $269,000 after purchasing an additional 46 shares in the last quarter. E Fund Management Co. Ltd. grew its stake in shares of ResMed by 2.8% in the 1st quarter. E Fund Management Co. Ltd. now owns 1,719 shares of the medical equipment provider's stock worth $385,000 after acquiring an additional 47 shares in the last quarter. CVA Family Office LLC raised its holdings in shares of ResMed by 29.8% in the first quarter. CVA Family Office LLC now owns 209 shares of the medical equipment provider's stock valued at $47,000 after purchasing an additional 48 shares during the last quarter. Central Pacific Bank Trust Division raised its holdings in shares of ResMed by 9.7% in the first quarter. Central Pacific Bank Trust Division now owns 565 shares of the medical equipment provider's stock valued at $126,000 after purchasing an additional 50 shares during the last quarter. Finally, Terra Nova Asset Management LLC lifted its position in shares of ResMed by 0.7% during the first quarter. Terra Nova Asset Management LLC now owns 7,950 shares of the medical equipment provider's stock valued at $1,780,000 after purchasing an additional 52 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company's stock.

Insider Activity at ResMed

In other ResMed news, Director Peter C. Farrell sold 945 shares of the business's stock in a transaction dated Wednesday, July 2nd. The stock was 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 $17,443,068.77. The trade was a 1.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of the firm's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $279.48, for a total value of $2,238,355.32. Following the completion of the transaction, the chief executive officer directly owned 455,503 shares in the company, valued at $127,303,978.44. This trade represents a 1.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,597 shares of company stock worth $7,301,182 over the last quarter. Company insiders own 0.71% of the company's stock.

ResMed Price Performance

Shares of RMD traded down $2.18 during midday trading on Wednesday, reaching $268.81. The stock had a trading volume of 1,804,367 shares, compared to its average volume of 1,004,482. The company has a current ratio of 3.44, a quick ratio of 2.53 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $39.36 billion, a price-to-earnings ratio of 28.27, a price-to-earnings-growth ratio of 1.83 and a beta of 0.85. The company's 50-day moving average is $271.75 and its 200 day moving average is $246.71. ResMed Inc. has a 12-month low of $199.92 and a 12-month high of $293.81.

ResMed (NYSE:RMD - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.08. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The business had revenue of $1.35 billion for the quarter, compared to analysts' expectations of $1.33 billion. During the same quarter in the previous year, the business posted $2.08 earnings per share. The firm's revenue for the quarter was up 10.2% 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 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, August 14th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, August 14th. This is a positive change from ResMed's previous quarterly dividend of $0.53. This represents a $2.40 annualized dividend and a dividend yield of 0.9%. ResMed's dividend payout ratio is presently 25.24%.

Wall Street Analyst Weigh In

RMD has been the subject of a number of research analyst reports. Piper Sandler lifted their price target on ResMed from $248.00 to $270.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Morgan Stanley set a $286.00 target price on ResMed and gave the stock an "overweight" rating in a research note on Tuesday, May 20th. Stifel Nicolaus boosted their price target on shares of ResMed from $240.00 to $270.00 and gave the stock a "hold" rating in a report on Friday, August 1st. Mizuho raised their price objective on shares of ResMed from $270.00 to $290.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Finally, Wall Street Zen cut shares of ResMed from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $274.83.

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.