First Trust Advisors LP Acquires 3,390 Shares of ResMed Inc. $RMD

First Trust Advisors LP raised its holdings in shares of ResMed Inc. (NYSE:RMD) by 3.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 115,610 shares of the medical equipment provider’s stock after purchasing an additional 3,390 shares during the quarter. First Trust Advisors LP owned approximately 0.08% of ResMed worth $29,827,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Zions Bancorporation National Association UT bought a new position in shares of ResMed in the first quarter valued at about $45,000. Groupe la Francaise bought a new stake in shares of ResMed during the 1st quarter worth about $45,000. Harbour Investments Inc. grew its stake in ResMed by 264.2% in the 2nd quarter. Harbour Investments Inc. now owns 244 shares of the medical equipment provider’s stock valued at $63,000 after buying an additional 177 shares during the last quarter. Quarry LP raised its holdings in ResMed by 141.1% in the 1st quarter. Quarry LP now owns 311 shares of the medical equipment provider’s stock valued at $70,000 after acquiring an additional 182 shares during the period. Finally, Virtus Advisers LLC bought a new position in ResMed in the 2nd quarter valued at about $77,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Price Performance

Shares of NYSE RMD opened at $251.37 on Thursday. The business has a fifty day moving average price of $258.10 and a two-hundred day moving average price of $263.69. The stock has a market capitalization of $36.69 billion, a PE ratio of 25.73, a P/E/G ratio of 1.67 and a beta of 0.87. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.89 and a quick ratio of 2.13. ResMed Inc. has a fifty-two week low of $199.92 and a fifty-two week high of $293.81.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Friday, October 31st. The medical equipment provider reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.06. The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.33 billion. ResMed had a return on equity of 25.45% and a net margin of 27.35%.ResMed’s revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the business earned $2.20 earnings per share. As a group, equities analysts predict that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

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

Wall Street Analysts Forecast Growth

RMD has been the subject of a number of research analyst reports. CLSA upgraded ResMed from a “hold” rating to an “outperform” rating in a report on Tuesday, September 2nd. Royal Bank Of Canada lifted their price target on ResMed from $300.00 to $303.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Robert W. Baird reduced their price target on ResMed from $320.00 to $300.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. Wells Fargo & Company initiated coverage on ResMed in a research report on Monday, October 13th. They set an “equal weight” rating and a $280.00 price objective on the stock. Finally, Citigroup assumed coverage on ResMed in a report on Thursday, September 18th. They set a “buy” rating and a $330.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $297.45.

Insider Activity

In related news, CEO Michael J. Farrell sold 8,011 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $249.75, for a total transaction of $2,000,747.25. Following the sale, the chief executive officer owned 467,866 shares in the company, valued at approximately $116,849,533.50. This trade represents a 1.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $251.47, for a total transaction of $502,940.00. Following the completion of the transaction, the director directly owned 68,773 shares in the company, valued at $17,294,346.31. This trade represents a 2.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 22,662 shares of company stock worth $5,946,466. Insiders own 0.65% of the company’s stock.

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.