ResMed Inc. $RMD Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP grew its holdings in ResMed Inc. (NYSE:RMD) by 2.4% in the first quarter, Holdings Channel.com reports. The institutional investor owned 1,004,218 shares of the medical equipment provider’s stock after acquiring an additional 23,674 shares during the quarter. Dimensional Fund Advisors LP’s holdings in ResMed were worth $225,389,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in RMD. Imprint Wealth LLC acquired a new position in ResMed in the 3rd quarter valued at about $26,000. WFA of San Diego LLC acquired a new stake in ResMed during the 2nd quarter worth approximately $26,000. International Assets Investment Management LLC acquired a new stake in ResMed during the 4th quarter worth approximately $25,000. ORG Partners LLC grew its stake in shares of ResMed by 181.6% in the 4th quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 69 shares during the last quarter. Finally, Sunbelt Securities Inc. purchased a new position in shares of ResMed in the 3rd quarter valued at approximately $31,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Stock Performance

Shares of RMD stock opened at $191.83 on Friday. The company has a market cap of $27.83 billion, a price-to-earnings ratio of 18.50, a price-to-earnings-growth ratio of 1.21 and a beta of 0.78. The stock has a 50 day simple moving average of $198.83 and a 200-day simple moving average of $225.18. ResMed Inc. has a 12-month low of $180.26 and a 12-month high of $293.81. The company has a current ratio of 3.01, a quick ratio of 2.33 and a debt-to-equity ratio of 0.06.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.07. ResMed had a return on equity of 25.35% and a net margin of 27.44%.The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the business earned $2.37 earnings per share. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, equities analysts forecast that ResMed Inc. will post 11.13 EPS for the current year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.3%. ResMed’s dividend payout ratio is 23.14%.

Insider Buying and Selling at ResMed

In other news, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $218.55, for a total value of $1,090,783.05. Following the completion of the transaction, the chief executive officer owned 466,223 shares in the company, valued at $101,893,036.65. This trade represents a 1.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 14,973 shares of company stock worth $3,096,067. Corporate insiders own 0.65% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on RMD shares. Evercore set a $255.00 target price on ResMed and gave the company an “outperform” rating in a report on Monday, April 13th. Morgan Stanley reiterated an “equal weight” rating and issued a $230.00 price objective (down from $286.00) on shares of ResMed in a research report on Wednesday, June 17th. Jefferies Financial Group dropped their price objective on shares of ResMed from $240.00 to $225.00 and set a “hold” rating on the stock in a research note on Friday, July 10th. JPMorgan Chase & Co. began coverage on shares of ResMed in a research report on Wednesday, April 15th. They set an “overweight” rating for the company. Finally, Mizuho reduced their target price on shares of ResMed from $235.00 to $220.00 and set an “outperform” rating for the company in a research note on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $246.25.

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.