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

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

Several other institutional investors also recently modified their holdings of RMD. Entropy Technologies LP boosted its holdings in shares of ResMed by 188.7% during the 2nd quarter. Entropy Technologies LP now owns 16,384 shares of the medical equipment provider’s stock valued at $4,227,000 after acquiring an additional 10,708 shares in the last quarter. Quantbot Technologies LP raised its position in ResMed by 244.8% in the second quarter. Quantbot Technologies LP now owns 36,355 shares of the medical equipment provider’s stock valued at $9,380,000 after purchasing an additional 25,810 shares during the last quarter. Inspire Investing LLC boosted its stake in shares of ResMed by 29.3% during the first quarter. Inspire Investing LLC now owns 28,578 shares of the medical equipment provider’s stock valued at $6,397,000 after purchasing an additional 6,472 shares in the last quarter. Intech Investment Management LLC grew its holdings in shares of ResMed by 63.2% during the first quarter. Intech Investment Management LLC now owns 15,325 shares of the medical equipment provider’s stock worth $3,430,000 after purchasing an additional 5,934 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of ResMed by 0.7% during the second quarter. American Century Companies Inc. now owns 175,901 shares of the medical equipment provider’s stock worth $45,382,000 after purchasing an additional 1,183 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on RMD. Morgan Stanley set a $305.00 target price on shares of ResMed in a research report on Friday, October 31st. Wells Fargo & Company initiated coverage on shares of ResMed in a research note on Monday, October 13th. They set an “equal weight” rating and a $280.00 price target for the company. Royal Bank Of Canada lifted their price target on shares of ResMed from $300.00 to $303.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Weiss Ratings reissued a “hold (c+)” rating on shares of ResMed in a research note on Monday. Finally, Robert W. Baird lowered their target price on ResMed from $320.00 to $300.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, ResMed presently has an average rating of “Moderate Buy” and a consensus price target of $297.45.

Insiders Place Their Bets

In related news, CEO Michael J. Farrell sold 8,011 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $249.75, for a total transaction of $2,000,747.25. Following the completion of the sale, the chief executive officer owned 467,866 shares of the company’s stock, valued at $116,849,533.50. This trade represents a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $251.47, for a total value of $502,940.00. Following the completion of the transaction, the director directly owned 68,773 shares in the company, valued at approximately $17,294,346.31. This trade represents a 2.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 22,662 shares of company stock worth $5,946,466. Company insiders own 0.65% of the company’s stock.

ResMed Trading Up 2.0%

NYSE:RMD opened at $251.37 on Thursday. ResMed Inc. has a 52 week low of $199.92 and a 52 week high of $293.81. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.13 and a current ratio of 2.89. The firm’s fifty day moving average is $258.10 and its 200-day moving average is $263.69. The firm has a market cap of $36.69 billion, a P/E ratio of 25.73, a P/E/G ratio of 1.67 and a beta of 0.87.

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

ResMed Dividend Announcement

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

About ResMed

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.