ResMed Inc. (NYSE:RMD) Shares Bought by LPL Financial LLC

LPL Financial LLC lifted its position in shares of ResMed Inc. (NYSE:RMD) by 29.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 69,112 shares of the medical equipment provider’s stock after buying an additional 15,770 shares during the period. LPL Financial LLC’s holdings in ResMed were worth $15,471,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in RMD. Invesco Ltd. lifted its position in shares of ResMed by 32.2% during the fourth quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider’s stock worth $531,706,000 after purchasing an additional 566,046 shares during the last quarter. Northern Trust Corp boosted its stake in shares of ResMed by 20.6% during the 4th quarter. Northern Trust Corp now owns 1,702,590 shares of the medical equipment provider’s stock valued at $389,365,000 after buying an additional 290,664 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of ResMed by 28.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 954,612 shares of the medical equipment provider’s stock valued at $218,310,000 after buying an additional 212,201 shares during the period. Los Angeles Capital Management LLC raised its holdings in ResMed by 15.6% in the 1st quarter. Los Angeles Capital Management LLC now owns 773,159 shares of the medical equipment provider’s stock worth $173,072,000 after acquiring an additional 104,251 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in ResMed by 9.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 742,412 shares of the medical equipment provider’s stock worth $169,789,000 after acquiring an additional 65,999 shares during the period. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at ResMed

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction on Monday, July 7th. The stock was sold at an average price of $256.72, for a total transaction of $2,056,070.48. Following the completion of the transaction, the chief executive officer owned 455,503 shares of the company’s stock, valued at approximately $116,936,730.16. This trade represents a 1.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Witte Jan De sold 2,000 shares of the firm’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $243.47, for a total value of $486,940.00. Following the transaction, the director directly owned 5,806 shares of the company’s stock, valued at $1,413,586.82. This represents a 25.62% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,054 shares of company stock worth $4,820,479. Insiders own 0.71% of the company’s stock.

ResMed Price Performance

NYSE RMD opened at $280.25 on Thursday. The company has a market cap of $41.09 billion, a PE ratio of 29.47, a price-to-earnings-growth ratio of 1.92 and a beta of 0.77. ResMed Inc. has a 52 week low of $199.92 and a 52 week high of $293.08. The company has a quick ratio of 2.53, a current ratio of 3.44 and a debt-to-equity ratio of 0.11. The firm’s 50-day simple moving average is $258.32 and its two-hundred day simple moving average is $241.06.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.08. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.33 billion. ResMed had a net margin of 27.22% and a return on equity of 25.62%. ResMed’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the firm posted $2.08 earnings per share. Research analysts predict that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, August 14th will be issued a $0.60 dividend. This is a positive change from ResMed’s previous quarterly dividend of $0.53. This represents a $2.40 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Wednesday, August 13th. ResMed’s dividend payout ratio (DPR) is 22.29%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Royal Bank Of Canada upped their target price on shares of ResMed from $294.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Stifel Nicolaus upped their target price on shares of ResMed from $240.00 to $270.00 and gave the company a “hold” rating in a research note on Friday, August 1st. UBS Group upped their target price on shares of ResMed from $285.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, August 1st. William Blair raised shares of ResMed to a “strong-buy” rating in a research note on Friday, August 1st. Finally, Piper Sandler upped their target price on shares of ResMed from $248.00 to $270.00 and gave the company a “neutral” rating in a research note on Friday, August 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, ResMed presently has an average rating of “Moderate Buy” and an average target price of $274.83.

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.