Stephens Investment Management Group LLC Increases Holdings in ResMed Inc. (NYSE:RMD)

Stephens Investment Management Group LLC lifted its holdings in shares of ResMed Inc. (NYSE:RMD - Free Report) by 2.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 336,554 shares of the medical equipment provider's stock after acquiring an additional 7,330 shares during the period. ResMed makes up 1.1% of Stephens Investment Management Group LLC's holdings, making the stock its 26th biggest holding. Stephens Investment Management Group LLC owned 0.23% of ResMed worth $82,160,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC grew its position in ResMed by 22.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,104 shares of the medical equipment provider's stock worth $1,011,000 after purchasing an additional 923 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of ResMed by 0.5% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 350,541 shares of the medical equipment provider's stock worth $69,418,000 after buying an additional 1,797 shares during the last quarter. First Trust Direct Indexing L.P. grew its holdings in shares of ResMed by 13.3% in the first quarter. First Trust Direct Indexing L.P. now owns 4,290 shares of the medical equipment provider's stock valued at $850,000 after acquiring an additional 505 shares in the last quarter. Maryland State Retirement & Pension System increased its position in shares of ResMed by 2.8% during the first quarter. Maryland State Retirement & Pension System now owns 11,393 shares of the medical equipment provider's stock valued at $2,256,000 after acquiring an additional 308 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in shares of ResMed by 2.8% during the first quarter. Van ECK Associates Corp now owns 26,584 shares of the medical equipment provider's stock valued at $5,264,000 after acquiring an additional 735 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company's stock.

ResMed Stock Performance

Shares of ResMed stock traded up $1.81 during trading hours on Friday, reaching $244.28. The company had a trading volume of 1,116,983 shares, compared to its average volume of 1,052,818. ResMed Inc. has a one year low of $140.81 and a one year high of $260.49. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. The firm has a market cap of $35.86 billion, a PE ratio of 32.12, a price-to-earnings-growth ratio of 1.78 and a beta of 0.69. The business has a fifty day simple moving average of $242.28 and a 200 day simple moving average of $219.31.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.03 by $0.17. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter last year, the business posted $1.64 earnings per share. The firm's revenue was up 11.1% compared to the same quarter last year. On average, analysts anticipate that ResMed Inc. will post 9.22 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Thursday, November 7th. ResMed's payout ratio is 28.08%.

Insider Buying and Selling

In other ResMed news, insider Justin Leong sold 48,000 shares of the business's stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $217.07, for a total value of $10,419,360.00. Following the completion of the transaction, the insider now owns 18,741 shares of the company's stock, valued at $4,068,108.87. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Justin Leong sold 48,000 shares of the company's stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $217.07, for a total value of $10,419,360.00. Following the completion of the transaction, the insider now directly owns 18,741 shares in the company, valued at approximately $4,068,108.87. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Michael J. Rider sold 882 shares of the firm's stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $231.00, for a total value of $203,742.00. Following the transaction, the general counsel now directly owns 10,512 shares in the company, valued at approximately $2,428,272. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 123,874 shares of company stock worth $28,151,142. Insiders own 0.71% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on RMD. StockNews.com upgraded ResMed from a "hold" rating to a "buy" rating in a research note on Tuesday, October 15th. KeyCorp increased their price target on shares of ResMed from $251.00 to $266.00 and gave the company an "overweight" rating in a research report on Friday, October 25th. Wolfe Research reaffirmed an "underperform" rating and issued a $180.00 price objective on shares of ResMed in a research report on Wednesday, September 18th. Robert W. Baird increased their target price on shares of ResMed from $280.00 to $283.00 and gave the company an "outperform" rating in a research report on Friday, October 25th. Finally, Royal Bank of Canada raised their price target on shares of ResMed from $224.00 to $232.00 and gave the stock a "sector perform" rating in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $225.70.

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.