First Trust Direct Indexing L.P. Boosts Stock Holdings in ResMed Inc. (NYSE:RMD)

First Trust Direct Indexing L.P. increased its position in shares of ResMed Inc. (NYSE:RMDFree Report) by 13.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,290 shares of the medical equipment provider’s stock after purchasing an additional 505 shares during the period. First Trust Direct Indexing L.P.’s holdings in ResMed were worth $850,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Handelsbanken Fonder AB grew its position in ResMed by 22.5% during the fourth quarter. Handelsbanken Fonder AB now owns 70,272 shares of the medical equipment provider’s stock worth $12,088,000 after buying an additional 12,899 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in ResMed by 13.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,231 shares of the medical equipment provider’s stock worth $7,781,000 after buying an additional 5,517 shares during the period. Vaughan David Investments LLC IL acquired a new position in ResMed during the fourth quarter worth about $29,322,000. Dimensional Fund Advisors LP grew its position in ResMed by 8.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 536,459 shares of the medical equipment provider’s stock worth $92,285,000 after buying an additional 40,605 shares during the period. Finally, ICW Investment Advisors LLC grew its position in ResMed by 2.3% during the fourth quarter. ICW Investment Advisors LLC now owns 11,303 shares of the medical equipment provider’s stock worth $1,944,000 after buying an additional 249 shares during the period. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other ResMed news, CFO Brett Sandercock sold 1,000 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $209.81, for a total transaction of $209,810.00. Following the transaction, the chief financial officer now owns 91,056 shares of the company’s stock, valued at $19,104,459.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Karen Drexler sold 425 shares of the firm’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $214.92, for a total value of $91,341.00. Following the transaction, the director now owns 8,446 shares of the company’s stock, valued at approximately $1,815,214.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Brett Sandercock sold 1,000 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $209.81, for a total transaction of $209,810.00. Following the completion of the transaction, the chief financial officer now directly owns 91,056 shares in the company, valued at approximately $19,104,459.36. The disclosure for this sale can be found here. Insiders have sold a total of 31,151 shares of company stock valued at $6,666,409 over the last quarter. Company insiders own 1.21% of the company’s stock.

ResMed Stock Up 2.9 %

Shares of NYSE RMD opened at $194.81 on Friday. ResMed Inc. has a 1 year low of $132.24 and a 1 year high of $229.97. The firm’s 50 day moving average price is $208.94 and its 200 day moving average price is $191.61. The firm has a market cap of $28.62 billion, a P/E ratio of 29.92, a price-to-earnings-growth ratio of 1.64 and a beta of 0.66. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.97 and a current ratio of 3.04.

ResMed (NYSE:RMDGet Free Report) last posted its quarterly earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.22. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.17 billion. ResMed had a net margin of 20.91% and a return on equity of 24.43%. ResMed’s revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.68 earnings per share. As a group, sell-side analysts anticipate that ResMed Inc. will post 7.7 earnings per share for the current year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 9th were paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend was Wednesday, May 8th. ResMed’s dividend payout ratio is currently 29.49%.

Analyst Ratings Changes

Several research analysts have weighed in on RMD shares. KeyCorp upped their target price on shares of ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Needham & Company LLC reiterated a “buy” rating and issued a $236.00 price target on shares of ResMed in a research report on Monday, June 24th. Royal Bank of Canada increased their price target on shares of ResMed from $187.00 to $200.00 and gave the company a “sector perform” rating in a research report on Friday, April 26th. Mizuho reiterated a “buy” rating and issued a $215.00 price target on shares of ResMed in a research report on Wednesday, March 27th. Finally, Oppenheimer lowered shares of ResMed from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, ResMed has a consensus rating of “Moderate Buy” and a consensus price target of $202.80.

Read Our Latest Stock Analysis on ResMed

About ResMed

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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