ResMed Inc. (NYSE:RMD) Shares Acquired by ProShare Advisors LLC

ProShare Advisors LLC increased its position in shares of ResMed Inc. (NYSE:RMD) by 15.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,894 shares of the medical equipment provider’s stock after acquiring an additional 3,062 shares during the quarter. ProShare Advisors LLC’s holdings in ResMed were worth $5,014,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in ResMed in the third quarter valued at $26,000. Compass Wealth Management LLC purchased a new position in ResMed during the fourth quarter worth about $26,000. International Assets Investment Management LLC increased its position in shares of ResMed by 3,940.0% during the first quarter. International Assets Investment Management LLC now owns 202 shares of the medical equipment provider’s stock valued at $44,000 after acquiring an additional 197 shares during the last quarter. Live Oak Investment Partners purchased a new stake in shares of ResMed in the 4th quarter valued at approximately $44,000. Finally, Ronald Blue Trust Inc. lifted its holdings in shares of ResMed by 34.6% in the 1st quarter. Ronald Blue Trust Inc. now owns 214 shares of the medical equipment provider’s stock worth $45,000 after acquiring an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 63.79% of the company’s stock.

Insider Buying and Selling

In related news, CEO Michael J. Farrell sold 5,675 shares of ResMed stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $221.27, for a total transaction of $1,255,707.25. Following the completion of the sale, the chief executive officer now owns 436,930 shares in the company, valued at approximately $96,679,501.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Michael J. Farrell sold 5,675 shares of the company’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $221.27, for a total transaction of $1,255,707.25. Following the completion of the transaction, the chief executive officer now owns 436,930 shares of the company’s stock, valued at approximately $96,679,501.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Kaushik Ghoshal sold 500 shares of the company’s stock in a transaction on Thursday, July 13th. The stock was sold at an average price of $220.00, for a total value of $110,000.00. Following the sale, the insider now owns 11,787 shares of the company’s stock, valued at $2,593,140. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,900 shares of company stock valued at $3,021,246. 1.39% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on RMD. Needham & Company LLC upgraded ResMed from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. TheStreet cut shares of ResMed from a “b-” rating to a “c+” rating in a research report on Thursday, August 24th. StockNews.com initiated coverage on shares of ResMed in a report on Thursday, August 17th. They issued a “hold” rating for the company. Bank of America reduced their target price on shares of ResMed from $250.00 to $230.00 and set a “buy” rating on the stock in a report on Monday. Finally, Royal Bank of Canada dropped their price target on shares of ResMed from $284.00 to $273.00 and set an “outperform” rating for the company in a research note on Monday, August 14th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $248.29.

ResMed Stock Performance

Shares of ResMed stock opened at $146.01 on Tuesday. The firm has a market capitalization of $21.47 billion, a P/E ratio of 23.94, a P/E/G ratio of 2.27 and a beta of 0.52. The company has a quick ratio of 1.81, a current ratio of 3.12 and a debt-to-equity ratio of 0.35. ResMed Inc. has a 52 week low of $145.00 and a 52 week high of $243.52. The firm’s 50 day moving average is $183.72 and its two-hundred day moving average is $207.16.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, August 3rd. The medical equipment provider reported $1.60 EPS for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.07). The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.14 billion. ResMed had a net margin of 21.25% and a return on equity of 24.94%. The business’s revenue was up 22.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.49 earnings per share. Research analysts forecast that ResMed Inc. will post 7.08 EPS for the current fiscal year.

ResMed Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 21st. Shareholders of record on Thursday, August 17th will be issued a $0.48 dividend. The ex-dividend date is Wednesday, August 16th. This is a boost from ResMed’s previous quarterly dividend of $0.44. This represents a $1.92 dividend on an annualized basis and a yield of 1.31%. ResMed’s dividend payout ratio (DPR) is 31.48%.

ResMed 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.