MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $9.28 Million Stock Holdings in ResMed Inc. (NYSE:RMD)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. cut its holdings in shares of ResMed Inc. (NYSE:RMD) by 7.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,561 shares of the medical equipment provider’s stock after selling 3,082 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in ResMed were worth $9,276,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in RMD. Colonial Trust Co SC boosted its position in ResMed by 6,250.0% during the 4th quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider’s stock worth $29,000 after buying an additional 125 shares during the period. Optiver Holding B.V. acquired a new stake in ResMed during the 4th quarter worth approximately $33,000. Itau Unibanco Holding S.A. boosted its position in 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 worth $38,000 after buying an additional 150 shares during the period. OFI Invest Asset Management acquired a new stake in ResMed during the 4th quarter worth approximately $39,000. Finally, Coppell Advisory Solutions LLC lifted its position in shares of ResMed by 1,750.0% in the 4th quarter. Coppell Advisory Solutions LLC now owns 185 shares of the medical equipment provider’s stock worth $42,000 after purchasing an additional 175 shares during the period. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RMD has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research report on Friday, May 2nd. Citigroup upgraded shares of ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 5th. JPMorgan Chase & Co. boosted their price target on shares of ResMed from $286.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Royal Bank of Canada boosted their price target on shares of ResMed from $247.00 to $255.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 24th. Finally, Needham & Company LLC restated a “hold” rating on shares of ResMed in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ResMed currently has a consensus rating of “Moderate Buy” and a consensus price target of $258.83.

Insider Buying and Selling at ResMed

In other ResMed news, insider Kaushik Ghoshal sold 9,745 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the sale, the insider now directly owns 9,725 shares of the company’s stock, valued at $2,327,289.75. This represents a 50.05% 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, CEO Michael J. Farrell sold 8,009 shares of the company’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $209.85, for a total transaction of $1,680,688.65. Following the sale, the chief executive officer now directly owns 455,472 shares in the company, valued at approximately $95,580,799.20. This trade represents a 1.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 48,949 shares of company stock valued at $11,335,320 over the last three months. 0.71% of the stock is currently owned by insiders.

ResMed Price Performance

Shares of NYSE:RMD opened at $251.75 on Friday. The company’s 50-day moving average is $225.34 and its 200 day moving average is $234.23. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. The company has a market capitalization of $36.91 billion, a P/E ratio of 29.72, a price-to-earnings-growth ratio of 1.53 and a beta of 0.78. ResMed Inc. has a fifty-two week low of $179.42 and a fifty-two week high of $263.05.

ResMed (NYSE:RMD) last issued 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. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. ResMed had a net margin of 25.34% and a return on equity of 26.17%. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.13 EPS. On average, equities research analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 8th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.84%. The ex-dividend date is Thursday, May 8th. ResMed’s dividend payout ratio (DPR) is presently 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.