ResMed Inc. (NYSE:RMD) Stock Holdings Increased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of ResMed Inc. (NYSE:RMDGet Rating) by 20.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,242 shares of the medical equipment provider’s stock after acquiring an additional 3,768 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in ResMed were worth $5,393,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. CAPROCK Group Inc. raised its stake in ResMed by 5.3% during the 1st quarter. CAPROCK Group Inc. now owns 982 shares of the medical equipment provider’s stock valued at $238,000 after acquiring an additional 49 shares in the last quarter. River Wealth Advisors LLC increased its position in shares of ResMed by 2.5% during the 1st quarter. River Wealth Advisors LLC now owns 2,288 shares of the medical equipment provider’s stock valued at $555,000 after purchasing an additional 55 shares during the period. Brinker Capital Investments LLC increased its position in shares of ResMed by 0.9% during the 1st quarter. Brinker Capital Investments LLC now owns 6,428 shares of the medical equipment provider’s stock valued at $1,559,000 after purchasing an additional 59 shares during the period. Lido Advisors LLC increased its position in shares of ResMed by 6.1% during the 1st quarter. Lido Advisors LLC now owns 1,075 shares of the medical equipment provider’s stock valued at $260,000 after purchasing an additional 62 shares during the period. Finally, Yousif Capital Management LLC increased its position in shares of ResMed by 0.3% during the 1st quarter. Yousif Capital Management LLC now owns 22,004 shares of the medical equipment provider’s stock valued at $5,336,000 after purchasing an additional 64 shares during the period. Institutional investors own 65.50% of the company’s stock.

Insider Activity at ResMed

In related news, COO Robert Andrew Douglas sold 11,189 shares of ResMed stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $232.51, for a total transaction of $2,601,554.39. Following the completion of the sale, the chief operating officer now owns 28,408 shares of the company’s stock, valued at $6,605,144.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, COO Robert Andrew Douglas sold 11,189 shares of ResMed stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $232.51, for a total transaction of $2,601,554.39. Following the completion of the sale, the chief operating officer now owns 28,408 shares of the company’s stock, valued at $6,605,144.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Michael J. Farrell sold 5,675 shares of the business’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $228.96, for a total value of $1,299,348.00. Following the completion of the sale, the chief executive officer now directly owns 422,570 shares of the company’s stock, valued at approximately $96,751,627.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,629 shares of company stock valued at $8,241,549. Insiders own 1.42% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. StockNews.com cut ResMed from a “buy” rating to a “hold” rating in a research report on Friday, August 19th. Citigroup upgraded ResMed from a “neutral” rating to a “buy” rating in a report on Thursday, September 8th. Royal Bank of Canada cut ResMed from an “outperform” rating to a “sector perform” rating and lifted their target price for the stock from $246.00 to $252.00 in a report on Friday, August 12th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. cut ResMed from an “overweight” rating to a “neutral” rating in a report on Friday, August 12th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, ResMed presently has a consensus rating of “Moderate Buy” and a consensus price target of $266.40.

ResMed Stock Performance

Shares of RMD stock opened at $213.69 on Friday. ResMed Inc. has a 1-year low of $189.40 and a 1-year high of $289.73. The company has a current ratio of 2.80, a quick ratio of 1.72 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $31.29 billion, a price-to-earnings ratio of 40.24, a P/E/G ratio of 3.16 and a beta of 0.50. The stock’s fifty day simple moving average is $230.51 and its 200-day simple moving average is $223.83.

ResMed (NYSE:RMDGet Rating) last issued its quarterly earnings results on Thursday, August 11th. The medical equipment provider reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.01. ResMed had a return on equity of 26.56% and a net margin of 21.78%. The business had revenue of $914.74 million for the quarter, compared to the consensus estimate of $912.53 million. During the same quarter in the previous year, the company posted $1.35 earnings per share. ResMed’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, sell-side analysts predict that ResMed Inc. will post 6.57 earnings per share for the current fiscal year.

ResMed Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 22nd. Investors of record on Thursday, August 18th were given a dividend of $0.44 per share. This is a boost from ResMed’s previous quarterly dividend of $0.42. The ex-dividend date was Wednesday, August 17th. This represents a $1.76 dividend on an annualized basis and a yield of 0.82%. ResMed’s dividend payout ratio (DPR) is presently 33.15%.

ResMed Profile

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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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.

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Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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