ResMed Inc. $RMD Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. increased its position in shares of ResMed Inc. (NYSE:RMD) by 1.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,746,925 shares of the medical equipment provider’s stock after purchasing an additional 253,223 shares during the quarter. Vanguard Group Inc. owned approximately 12.79% of ResMed worth $4,836,707,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Swedbank AB grew its holdings in shares of ResMed by 445.1% during the first quarter. Swedbank AB now owns 397,319 shares of the medical equipment provider’s stock worth $88,940,000 after buying an additional 324,428 shares in the last quarter. Nuveen LLC purchased a new position in shares of ResMed in the first quarter worth about $69,492,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in ResMed during the second quarter worth about $34,443,000. Geode Capital Management LLC grew its stake in ResMed by 2.4% during the 2nd quarter. Geode Capital Management LLC now owns 4,215,145 shares of the medical equipment provider’s stock valued at $1,083,409,000 after acquiring an additional 98,717 shares in the last quarter. Finally, Mackenzie Financial Corp grew its stake in ResMed by 57.0% during the 1st quarter. Mackenzie Financial Corp now owns 258,275 shares of the medical equipment provider’s stock valued at $57,815,000 after acquiring an additional 93,794 shares in the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Trading Down 0.4%

Shares of ResMed stock opened at $245.18 on Thursday. The stock has a 50 day moving average of $264.42 and a 200 day moving average of $263.15. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.53 and a current ratio of 3.44. The firm has a market capitalization of $35.78 billion, a price-to-earnings ratio of 25.78, a PEG ratio of 1.75 and a beta of 0.87. ResMed Inc. has a fifty-two week low of $199.92 and a fifty-two week high of $293.81.

ResMed (NYSE:RMD) last posted its earnings results on Friday, October 31st. The medical equipment provider reported $2.55 EPS for the quarter, beating analysts’ consensus estimates of $2.49 by $0.06. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.33 billion. ResMed had a return on equity of 25.62% and a net margin of 27.22%.The company’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.20 earnings per share. As a group, research analysts predict that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, November 13th will be given a $0.60 dividend. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $2.40 dividend on an annualized basis and a yield of 1.0%. ResMed’s dividend payout ratio is presently 24.56%.

Insider Activity at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $252.05, for a total transaction of $504,100.00. Following the completion of the transaction, the director owned 66,110 shares of the company’s stock, valued at $16,663,025.50. This trade represents a 2.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Michael J. Rider sold 100 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $274.36, for a total transaction of $27,436.00. Following the completion of the sale, the general counsel directly owned 11,327 shares in the company, valued at $3,107,675.72. This trade represents a 0.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 18,607 shares of company stock worth $4,919,501. 0.65% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on RMD shares. UBS Group raised shares of ResMed to a “strong-buy” rating in a research note on Tuesday, September 16th. Wall Street Zen downgraded ResMed from a “buy” rating to a “hold” rating in a research report on Sunday, August 10th. William Blair raised ResMed to a “strong-buy” rating in a research note on Friday, August 1st. Royal Bank Of Canada raised their target price on ResMed from $300.00 to $303.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. Finally, Weiss Ratings lowered ResMed from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, November 14th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, ResMed presently has an average rating of “Moderate Buy” and an average price target of $297.45.

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.