First Trust Advisors LP Has $43.75 Million Stock Position in ResMed Inc. (NYSE:RMD)

First Trust Advisors LP grew its position in ResMed Inc. (NYSE:RMD - Free Report) by 150.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 191,294 shares of the medical equipment provider's stock after purchasing an additional 114,865 shares during the period. First Trust Advisors LP owned about 0.13% of ResMed worth $43,747,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of RMD. Howard Capital Management Inc. raised its holdings in ResMed by 5.3% during the 4th quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider's stock worth $206,000 after buying an additional 45 shares during the period. SkyView Investment Advisors LLC raised its holdings in shares of ResMed by 2.0% during the third quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider's stock worth $637,000 after acquiring an additional 51 shares during the period. Wedmont Private Capital boosted its stake in ResMed by 2.6% in the 4th quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider's stock worth $475,000 after purchasing an additional 52 shares during the period. Faithward Advisors LLC increased its holdings in ResMed by 4.3% during the 4th quarter. Faithward Advisors LLC now owns 1,279 shares of the medical equipment provider's stock worth $292,000 after purchasing an additional 53 shares in the last quarter. Finally, HighPoint Advisor Group LLC raised its stake in shares of ResMed by 2.6% in the 4th quarter. HighPoint Advisor Group LLC now owns 2,570 shares of the medical equipment provider's stock valued at $610,000 after purchasing an additional 64 shares during the period. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RMD has been the subject of a number of research reports. StockNews.com downgraded ResMed from a "buy" rating to a "hold" rating in a report on Thursday. Morgan Stanley began coverage on shares of ResMed in a report on Wednesday, March 19th. They issued an "overweight" rating and a $280.00 price objective on the stock. UBS Group reduced their target price on shares of ResMed from $290.00 to $285.00 and set a "buy" rating for the company in a report on Thursday. Piper Sandler lowered their price target on shares of ResMed from $260.00 to $248.00 and set a "neutral" rating on the stock in a research note on Thursday. Finally, Stifel Nicolaus reduced their price objective on shares of ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, ResMed presently has an average rating of "Moderate Buy" and a consensus target price of $258.83.

Insider Activity at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the firm's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total transaction of $484,220.00. Following the transaction, the director now owns 77,218 shares in the company, valued at $18,695,249.98. This trade represents a 2.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the company's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $209.85, for a total value of $1,680,688.65. Following the sale, the chief executive officer now owns 455,472 shares of the company's stock, valued at approximately $95,580,799.20. The trade was a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,013 shares of company stock worth $11,298,816. Corporate insiders own 0.71% of the company's stock.

ResMed Stock Performance

Shares of RMD stock traded down $1.66 during midday trading on Monday, hitting $234.22. 836,341 shares of the company were exchanged, compared to its average volume of 1,074,000. The firm has a market capitalization of $34.40 billion, a P/E ratio of 27.65, a PEG ratio of 1.53 and a beta of 0.75. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. ResMed Inc. has a 52 week low of $179.42 and a 52 week high of $263.05. The firm's 50 day moving average price is $221.92 and its two-hundred day moving average price is $234.00.

ResMed (NYSE:RMD - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, beating the consensus estimate of $2.36 by $0.01. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. ResMed had a return on equity of 26.17% and a net margin of 25.34%. The firm's revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.13 earnings per share. As a group, equities research analysts anticipate 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, June 12th. Stockholders of record on Thursday, May 8th will be given a $0.53 dividend. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.91%. ResMed's payout ratio is presently 23.79%.

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.