Wealthfront Advisers LLC Acquires 1,338 Shares of ResMed Inc. (NYSE:RMD)

Wealthfront Advisers LLC raised its position in ResMed Inc. (NYSE:RMD - Free Report) by 16.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,380 shares of the medical equipment provider's stock after purchasing an additional 1,338 shares during the quarter. Wealthfront Advisers LLC's holdings in ResMed were worth $2,100,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of RMD. Dakota Wealth Management raised its holdings in shares of ResMed by 21.7% during the 1st quarter. Dakota Wealth Management now owns 15,189 shares of the medical equipment provider's stock valued at $3,400,000 after buying an additional 2,709 shares during the period. OVERSEA CHINESE BANKING Corp Ltd raised its holdings in shares of ResMed by 1,168.5% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 590,895 shares of the medical equipment provider's stock valued at $132,272,000 after buying an additional 544,311 shares during the period. Signaturefd LLC raised its holdings in shares of ResMed by 7.6% during the 1st quarter. Signaturefd LLC now owns 4,525 shares of the medical equipment provider's stock valued at $1,013,000 after buying an additional 319 shares during the period. Edgestream Partners L.P. purchased a new stake in shares of ResMed during the 1st quarter valued at about $5,018,000. Finally, Florida Financial Advisors LLC purchased a new stake in shares of ResMed during the 1st quarter valued at about $209,000. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on RMD shares. KeyCorp set a $274.00 price objective on ResMed in a research note on Thursday, April 24th. Mizuho raised their price target on ResMed from $250.00 to $270.00 and gave the stock an "outperform" rating in a report on Wednesday. Piper Sandler cut their target price on ResMed from $260.00 to $248.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Wall Street Zen downgraded ResMed from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Finally, Royal Bank Of Canada raised ResMed from a "sector perform" rating to an "outperform" rating and boosted their price objective for the stock from $255.00 to $294.00 in a research note on Tuesday, July 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, ResMed currently has a consensus rating of "Moderate Buy" and an average price target of $263.00.

Insider Buying and Selling at ResMed

In other news, Director Witte Jan De sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $243.47, for a total value of $486,940.00. Following the sale, the director directly owned 5,806 shares in the company, valued at approximately $1,413,586.82. This represents a 25.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Peter C. Farrell sold 2,000 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $242.25, for a total value of $484,500.00. Following the completion of the sale, the director owned 71,218 shares in the company, valued at approximately $17,252,560.50. This represents a 2.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,013 shares of company stock valued at $7,238,913 in the last quarter. Corporate insiders own 0.71% of the company's stock.

ResMed Stock Up 0.5%

Shares of NYSE RMD traded up $1.22 during trading hours on Friday, hitting $257.64. The stock had a trading volume of 894,150 shares, compared to its average volume of 970,763. The company has a market capitalization of $37.78 billion, a P/E ratio of 28.92, a P/E/G ratio of 1.61 and a beta of 0.77. The firm's 50-day moving average price is $251.53 and its two-hundred day moving average price is $237.58. ResMed Inc. has a 52 week low of $196.43 and a 52 week high of $263.05. 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 data on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.01. ResMed had a return on equity of 25.67% and a net margin of 26.15%. The business had revenue of $1.29 billion during the quarter, compared to analysts' expectations of $1.28 billion. During the same quarter in the previous year, the firm earned $2.13 EPS. The firm's revenue was up 7.9% compared to the same quarter last year. Analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Thursday, May 8th were issued a $0.53 dividend. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $2.12 annualized dividend and a yield of 0.82%. ResMed's dividend payout ratio (DPR) 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.