Vanguard Personalized Indexing Management LLC Has $3.90 Million Stock Position in ResMed Inc. (NYSE:RMD)

Vanguard Personalized Indexing Management LLC raised its holdings in ResMed Inc. (NYSE:RMD) by 11.8% during the second quarter, HoldingsChannel reports. The firm owned 20,588 shares of the medical equipment provider’s stock after acquiring an additional 2,175 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in ResMed were worth $3,895,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of ResMed by 45.4% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,035 shares of the medical equipment provider’s stock worth $581,000 after buying an additional 948 shares during the last quarter. Meiji Yasuda Life Insurance Co acquired a new position in ResMed during the 2nd quarter worth about $402,000. Virtu Financial LLC bought a new stake in shares of ResMed in the 2nd quarter valued at about $1,640,000. Renaissance Technologies LLC acquired a new stake in shares of ResMed in the second quarter valued at about $42,036,000. Finally, Dimensional Fund Advisors LP raised its position in shares of ResMed by 19.3% during the second quarter. Dimensional Fund Advisors LP now owns 661,717 shares of the medical equipment provider’s stock worth $126,670,000 after acquiring an additional 107,279 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Wolfe Research restated an “underperform” rating and set a $180.00 price target on shares of ResMed in a report on Wednesday. StockNews.com cut shares of ResMed from a “buy” rating to a “hold” rating in a research report on Friday, August 30th. Royal Bank of Canada lifted their price objective on ResMed from $204.00 to $206.00 and gave the stock a “sector perform” rating in a research report on Friday, August 2nd. Oppenheimer downgraded ResMed from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. Finally, KeyCorp raised their target price on ResMed from $238.00 to $251.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $199.70.

Insider Buying and Selling at ResMed

In other news, insider Kaushik Ghoshal sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $252.56, for a total value of $1,262,800.00. Following the transaction, the insider now owns 21,788 shares in the company, valued at $5,502,777.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $248.38, for a total value of $3,646,963.54. Following the completion of the sale, the chief executive officer now owns 464,169 shares in the company, valued at approximately $115,290,296.22. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Kaushik Ghoshal sold 5,000 shares of ResMed stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $252.56, for a total transaction of $1,262,800.00. Following the transaction, the insider now directly owns 21,788 shares in the company, valued at approximately $5,502,777.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 102,931 shares of company stock worth $22,644,807. Insiders own 1.21% of the company’s stock.

ResMed Trading Up 2.1 %

NYSE RMD opened at $242.95 on Friday. The company has a quick ratio of 1.69, a current ratio of 2.59 and a debt-to-equity ratio of 0.14. ResMed Inc. has a 52 week low of $132.24 and a 52 week high of $255.18. The business has a 50 day moving average price of $226.11 and a 200-day moving average price of $208.77. The company has a market cap of $35.70 billion, a price-to-earnings ratio of 37.32, a P/E/G ratio of 2.50 and a beta of 0.69.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.05. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the previous year, the business posted $1.60 EPS. ResMed’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, equities analysts expect that ResMed Inc. will post 8.92 earnings per share for the current fiscal year.

ResMed Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, August 15th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend was Thursday, August 15th. This is a positive change from ResMed’s previous quarterly dividend of $0.48. ResMed’s dividend payout ratio is currently 32.57%.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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.