ResMed Inc. $RMD Shares Purchased by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC lifted its position in ResMed Inc. (NYSE:RMD) by 16.8% during the 2nd quarter, Holdings Channel.com reports. The fund owned 30,730 shares of the medical equipment provider’s stock after acquiring an additional 4,424 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in ResMed were worth $7,929,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Ballentine Partners LLC increased its position in shares of ResMed by 6.3% in the 1st quarter. Ballentine Partners LLC now owns 1,782 shares of the medical equipment provider’s stock valued at $399,000 after acquiring an additional 105 shares during the period. Inspire Investing LLC increased its position in shares of ResMed by 29.3% in the 1st quarter. Inspire Investing LLC now owns 28,578 shares of the medical equipment provider’s stock valued at $6,397,000 after acquiring an additional 6,472 shares during the period. Intech Investment Management LLC increased its position in shares of ResMed by 63.2% in the 1st quarter. Intech Investment Management LLC now owns 15,325 shares of the medical equipment provider’s stock valued at $3,430,000 after acquiring an additional 5,934 shares during the period. Goldman Sachs Group Inc. increased its position in shares of ResMed by 8.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 739,007 shares of the medical equipment provider’s stock valued at $165,427,000 after acquiring an additional 58,155 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of ResMed by 2.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 977,401 shares of the medical equipment provider’s stock valued at $218,791,000 after acquiring an additional 22,789 shares during the period. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Trading Down 2.1%

Shares of ResMed stock opened at $271.96 on Monday. The firm has a market capitalization of $39.69 billion, a PE ratio of 28.60, a P/E/G ratio of 1.83 and a beta of 0.83. ResMed Inc. has a twelve month low of $199.92 and a twelve month high of $293.81. The firm’s 50-day moving average price is $278.51 and its 200 day moving average price is $255.92. The company has a current ratio of 3.44, a quick ratio of 2.53 and a debt-to-equity ratio of 0.11.

ResMed (NYSE:RMD) last issued its quarterly 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 firm had revenue of $1.35 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company posted $2.08 EPS. On average, sell-side analysts predict that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, August 14th were paid a $0.60 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $2.40 dividend on an annualized basis and a yield of 0.9%. This is a boost from ResMed’s previous quarterly dividend of $0.53. ResMed’s dividend payout ratio is 25.24%.

Insider Activity at ResMed

In related news, General Counsel Michael J. Rider sold 100 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $274.36, for a total value of $27,436.00. Following the transaction, the general counsel directly owned 11,327 shares of the company’s stock, valued at approximately $3,107,675.72. This trade represents a 0.88% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of $282.85, for a total transaction of $2,265,345.65. Following the completion of the transaction, the chief executive officer directly owned 467,792 shares in the company, valued at $132,314,967.20. This represents a 1.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,743 shares of company stock valued at $5,284,514. 0.65% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Citigroup assumed coverage on ResMed in a research report on Thursday, September 18th. They set a “buy” rating and a $330.00 price target on the stock. Stifel Nicolaus increased their price target on ResMed from $240.00 to $270.00 and gave the stock a “hold” rating in a research report on Friday, August 1st. CLSA raised ResMed from a “hold” rating to an “outperform” rating in a research report on Tuesday, September 2nd. Piper Sandler increased their price target on ResMed from $248.00 to $270.00 and gave the stock a “neutral” rating in a research report on Friday, August 1st. Finally, KeyCorp increased their price target on ResMed from $274.00 to $298.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, ResMed presently has an average rating of “Moderate Buy” and a consensus target price of $294.20.

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.