ProShare Advisors LLC Increases Position in ResMed Inc. $RMD

ProShare Advisors LLC increased its position in ResMed Inc. (NYSE:RMD) by 7.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,220 shares of the medical equipment provider’s stock after acquiring an additional 2,147 shares during the period. ProShare Advisors LLC’s holdings in ResMed were worth $8,313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the company. ICW Investment Advisors LLC increased its stake in shares of ResMed by 0.4% in the first quarter. ICW Investment Advisors LLC now owns 11,394 shares of the medical equipment provider’s stock worth $2,551,000 after acquiring an additional 41 shares during the period. Johnson Investment Counsel Inc. increased its stake in shares of ResMed by 2.8% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 1,665 shares of the medical equipment provider’s stock valued at $430,000 after purchasing an additional 45 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in ResMed by 3.9% in the 1st quarter. Smartleaf Asset Management LLC now owns 1,222 shares of the medical equipment provider’s stock worth $269,000 after purchasing an additional 46 shares during the period. E Fund Management Co. Ltd. boosted its position in ResMed by 2.8% during the first quarter. E Fund Management Co. Ltd. now owns 1,719 shares of the medical equipment provider’s stock worth $385,000 after purchasing an additional 47 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its holdings in ResMed by 3.0% in the second quarter. V Square Quantitative Management LLC now owns 1,747 shares of the medical equipment provider’s stock valued at $451,000 after purchasing an additional 51 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Price Performance

Shares of NYSE RMD opened at $252.58 on Thursday. The firm has a 50-day simple moving average of $267.36 and a 200-day simple moving average of $262.80. The company has a quick ratio of 2.53, a current ratio of 3.44 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $36.86 billion, a price-to-earnings ratio of 26.56, a price-to-earnings-growth ratio of 1.75 and a beta of 0.87. ResMed Inc. has a 52 week low of $199.92 and a 52 week high of $293.81.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, October 30th. 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 company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.33 billion. ResMed had a net margin of 27.22% and a return on equity of 25.62%. ResMed’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.20 EPS. On average, equities analysts predict that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, November 13th will be given a $0.60 dividend. The ex-dividend date is Thursday, November 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.0%. ResMed’s dividend payout ratio is 24.56%.

Insider Activity at ResMed

In other ResMed news, General Counsel Michael J. Rider sold 100 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $274.36, for a total value of $27,436.00. Following the completion of the sale, the general counsel directly owned 11,327 shares of the company’s stock, valued at $3,107,675.72. This trade represents a 0.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael J. Farrell sold 8,011 shares of ResMed stock in a transaction on Friday, November 7th. The stock was sold at an average price of $249.75, for a total value of $2,000,747.25. Following the transaction, the chief executive officer owned 467,866 shares in the company, valued at approximately $116,849,533.50. This represents a 1.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 18,695 shares of company stock valued at $5,032,811. 0.65% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. KeyCorp upped their target price on ResMed from $298.00 to $299.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Citigroup began coverage on shares of ResMed in a report on Thursday, September 18th. They issued a “buy” rating and a $330.00 price target for the company. Royal Bank Of Canada increased their price objective on shares of ResMed from $300.00 to $303.00 and gave the company an “outperform” rating in a report on Friday, October 31st. William Blair upgraded shares of ResMed to a “strong-buy” rating in a research report on Friday, August 1st. Finally, Wall Street Zen cut shares of ResMed from a “buy” rating to a “hold” rating in a research note on Sunday, August 10th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $297.45.

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.