Virtus ETF Advisers LLC Invests $1.07 Million in ResMed Inc. (NYSE:RMD)

Virtus ETF Advisers LLC acquired a new stake in shares of ResMed Inc. (NYSE:RMD - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 4,661 shares of the medical equipment provider's stock, valued at approximately $1,066,000.

Other institutional investors have also recently made changes to their positions in the company. Nebula Research & Development LLC purchased a new position in shares of ResMed in the 4th quarter worth $532,000. Kovitz Investment Group Partners LLC bought a new stake in ResMed in the fourth quarter worth $711,000. Integrated Wealth Concepts LLC increased its position in ResMed by 391.7% during the fourth quarter. Integrated Wealth Concepts LLC now owns 4,907 shares of the medical equipment provider's stock valued at $1,122,000 after acquiring an additional 3,909 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. raised its stake in shares of ResMed by 2.6% in the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 47,051 shares of the medical equipment provider's stock valued at $10,760,000 after acquiring an additional 1,171 shares during the period. Finally, Adage Capital Partners GP L.L.C. boosted its stake in shares of ResMed by 307.0% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 46,539 shares of the medical equipment provider's stock worth $10,643,000 after purchasing an additional 35,103 shares during the period. Hedge funds and other institutional investors own 54.98% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on RMD shares. UBS Group dropped their target price on ResMed from $290.00 to $285.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. KeyCorp set a $274.00 price target on shares of ResMed in a research note on Thursday, April 24th. JPMorgan Chase & Co. increased their price target on ResMed from $286.00 to $290.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Stifel Nicolaus dropped their target price on shares of ResMed from $250.00 to $240.00 and set a "hold" rating on the stock in a report on Wednesday, March 5th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of ResMed in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $258.83.

ResMed Stock Performance

NYSE:RMD traded down $1.25 during mid-day trading on Wednesday, hitting $236.49. The company's stock had a trading volume of 1,320,870 shares, compared to its average volume of 1,019,361. The business's fifty day moving average is $222.00 and its two-hundred day moving average is $233.98. The stock has a market cap of $34.73 billion, a price-to-earnings ratio of 27.92, a PEG ratio of 1.53 and a beta of 0.75. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. ResMed Inc. has a 1 year low of $229.38 and a 1 year high of $237.89.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.36 by $0.01. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. ResMed had a return on equity of 26.17% and a net margin of 25.34%. During the same period in the previous year, the company posted $2.13 earnings per share. ResMed's revenue for the quarter was up 7.9% on a year-over-year basis. Analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date is Thursday, May 8th. ResMed's dividend payout ratio (DPR) is presently 23.79%.

Insider Activity at ResMed

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the business's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the completion of the sale, the chief executive officer now directly owns 455,472 shares in the company, valued at approximately $107,842,105.44. The trade was a 1.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total value of $484,220.00. Following the completion of the sale, the director now directly owns 77,218 shares in the company, valued at $18,695,249.98. This represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,013 shares of company stock worth $11,298,816 in the last 90 days. Corporate 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.