Vanguard Group Inc. Acquires 293,515 Shares of ResMed Inc. $RMD

Vanguard Group Inc. grew its holdings in shares of ResMed Inc. (NYSE:RMD) by 1.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,040,440 shares of the medical equipment provider’s stock after buying an additional 293,515 shares during the period. Vanguard Group Inc. owned 0.13% of ResMed worth $5,211,940,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RMD. SJS Investment Consulting Inc. increased its position in ResMed by 1,433.3% during the 3rd quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 86 shares during the period. WFA of San Diego LLC bought a new position in ResMed in the second quarter worth about $26,000. Westside Investment Management Inc. lifted its holdings in ResMed by 100.0% in the third quarter. Westside Investment Management Inc. now owns 132 shares of the medical equipment provider’s stock worth $36,000 after buying an additional 66 shares during the period. GoalVest Advisory LLC bought a new stake in ResMed during the 3rd quarter valued at approximately $37,000. Finally, IMA Advisory Services Inc. grew its holdings in shares of ResMed by 52.7% during the 3rd quarter. IMA Advisory Services Inc. now owns 139 shares of the medical equipment provider’s stock worth $38,000 after acquiring an additional 48 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on RMD shares. Piper Sandler raised their target price on ResMed from $270.00 to $275.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. UBS Group reissued a “buy” rating and set a $345.00 price objective on shares of ResMed in a research report on Friday, December 12th. Weiss Ratings upgraded shares of ResMed from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 9th. Wall Street Zen upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Finally, Citigroup boosted their price objective on shares of ResMed from $330.00 to $345.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, ResMed has an average rating of “Moderate Buy” and a consensus price target of $299.27.

Insider Buying and Selling at ResMed

In other news, Director Witte Jan De sold 2,055 shares of the company’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $255.00, for a total transaction of $524,025.00. Following the transaction, the director directly owned 4,261 shares of the company’s stock, valued at $1,086,555. This represents a 32.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $251.31, for a total value of $502,620.00. Following the sale, the director directly owned 64,773 shares in the company, valued at $16,278,102.63. This trade represents a 3.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 18,137 shares of company stock worth $4,658,832. Insiders own 0.65% of the company’s stock.

ResMed Price Performance

Shares of NYSE:RMD opened at $255.63 on Wednesday. The business has a fifty day moving average price of $252.79 and a 200-day moving average price of $262.44. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.06 and a quick ratio of 2.32. The company has a market capitalization of $37.24 billion, a PE ratio of 25.28, a PEG ratio of 1.68 and a beta of 0.87. ResMed Inc. has a 1-year low of $199.92 and a 1-year high of $293.81.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, January 29th. The medical equipment provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.68 by $0.13. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. ResMed had a net margin of 27.53% and a return on equity of 25.20%. ResMed’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.43 EPS. As a group, equities analysts expect that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Thursday, February 12th will be given a $0.60 dividend. The ex-dividend date of this dividend is Thursday, February 12th. This represents a $2.40 annualized dividend and a yield of 0.9%. ResMed’s dividend payout ratio is 23.74%.

About ResMed

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.