First Trust Direct Indexing L.P. Raises Position in ResMed Inc. (NYSE:RMD)

First Trust Direct Indexing L.P. increased its holdings in shares of ResMed Inc. (NYSE:RMD) by 24.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,785 shares of the medical equipment provider’s stock after buying an additional 738 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in ResMed were worth $651,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in RMD. EverSource Wealth Advisors LLC grew its stake in shares of ResMed by 224.6% during the third quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider’s stock worth $27,000 after acquiring an additional 128 shares during the last quarter. Operose Advisors LLC acquired a new stake in ResMed in the 3rd quarter worth approximately $32,000. Planned Solutions Inc. purchased a new stake in ResMed during the 4th quarter worth approximately $34,000. MV Capital Management Inc. increased its stake in ResMed by 39.0% during the 4th quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock valued at $37,000 after purchasing an additional 60 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in ResMed during the 4th quarter valued at approximately $45,000. 54.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on RMD shares. UBS Group lifted their price objective on shares of ResMed from $175.00 to $180.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. KeyCorp increased their price objective on ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Needham & Company LLC raised their price objective on ResMed from $224.00 to $236.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. JPMorgan Chase & Co. upped their target price on ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a research report on Tuesday, January 9th. Finally, Royal Bank of Canada increased their price target on shares of ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a report on Friday, April 26th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $202.80.

Insider Activity at ResMed

In other news, Director Peter C. Farrell sold 10,935 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the completion of the transaction, the director now directly owns 157,404 shares of the company’s stock, valued at approximately $28,751,414.64. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director Peter C. Farrell sold 10,935 shares of ResMed stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value of $1,997,387.10. Following the sale, the director now owns 157,404 shares in the company, valued at $28,751,414.64. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Michael J. Rider sold 200 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $173.25, for a total transaction of $34,650.00. Following the sale, the general counsel now directly owns 6,688 shares of the company’s stock, valued at approximately $1,158,696. The disclosure for this sale can be found here. Insiders sold a total of 11,641 shares of company stock worth $2,137,958 in the last 90 days. Corporate insiders own 1.21% of the company’s stock.

ResMed Price Performance

Shares of NYSE RMD opened at $216.98 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.04 and a quick ratio of 1.97. The stock has a market capitalization of $31.88 billion, a price-to-earnings ratio of 33.33, a PEG ratio of 2.68 and a beta of 0.64. The firm’s 50 day simple moving average is $190.52 and its 200-day simple moving average is $174.76. ResMed Inc. has a 12 month low of $132.24 and a 12 month high of $237.26.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.91 by $0.22. ResMed had a net margin of 20.91% and a return on equity of 24.43%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the firm posted $1.68 earnings per share. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. Analysts expect that ResMed Inc. will post 7.59 EPS for the current year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 9th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $1.92 annualized dividend and a dividend yield of 0.88%. ResMed’s dividend payout ratio is presently 29.49%.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.