Vanguard Group Inc. Has $4.16 Billion Stock Position in ResMed Inc. (NYSE:RMD)

Vanguard Group Inc. lifted its position in shares of ResMed Inc. (NYSE:RMD) by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,173,462 shares of the medical equipment provider’s stock after purchasing an additional 160,590 shares during the quarter. Vanguard Group Inc. owned approximately 0.12% of ResMed worth $4,156,089,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp raised its holdings in shares of ResMed by 1.9% in the 3rd quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider’s stock worth $1,528,590,000 after buying an additional 116,918 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of ResMed by 10.9% during the third quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock valued at $939,114,000 after acquiring an additional 380,383 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of ResMed by 3.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 957,020 shares of the medical equipment provider’s stock worth $218,861,000 after purchasing an additional 32,973 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of ResMed by 0.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 742,411 shares of the medical equipment provider’s stock worth $181,237,000 after purchasing an additional 2,406 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its holdings in ResMed by 60.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 668,908 shares of the medical equipment provider’s stock valued at $152,973,000 after purchasing an additional 250,746 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors.

ResMed Price Performance

RMD opened at $222.95 on Tuesday. The company has a fifty day moving average price of $234.76 and a two-hundred day moving average price of $238.83. The firm has a market capitalization of $32.74 billion, a PE ratio of 26.32, a P/E/G ratio of 1.53 and a beta of 0.74. ResMed Inc. has a 52 week low of $172.19 and a 52 week high of $263.05. 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 (NYSE:RMD) last released its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. As a group, analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 13th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.95%. The ex-dividend date was Thursday, February 13th. ResMed’s payout ratio is 25.03%.

Insider Buying and Selling at ResMed

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $229.20, for a total value of $1,835,662.80. Following the completion of the sale, the chief executive officer now directly owns 455,472 shares in the company, valued at $104,394,182.40. This represents a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total value 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,940 shares of company stock valued at $9,164,385. Corporate insiders own 0.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on RMD shares. KeyCorp raised their price objective on shares of ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. The Goldman Sachs Group began coverage on ResMed in a report on Thursday, January 16th. They set a “buy” rating for the company. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday. Morgan Stanley assumed coverage on ResMed in a research note on Wednesday, March 19th. They issued an “overweight” rating and a $280.00 target price for the company. Finally, Citigroup upgraded shares of ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, ResMed presently has a consensus rating of “Moderate Buy” and a consensus price target of $246.83.

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.