Dimensional Fund Advisors LP Has $126.67 Million Stake in ResMed Inc. (NYSE:RMD)

Dimensional Fund Advisors LP grew its position in ResMed Inc. (NYSE:RMD) by 19.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 661,717 shares of the medical equipment provider’s stock after buying an additional 107,279 shares during the quarter. Dimensional Fund Advisors LP owned 0.45% of ResMed worth $126,670,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in RMD. OFI Invest Asset Management acquired a new stake in ResMed in the second quarter valued at about $32,000. BOK Financial Private Wealth Inc. acquired a new position in ResMed during the 1st quarter worth approximately $35,000. Versant Capital Management Inc lifted its stake in ResMed by 196.7% in the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 120 shares during the last quarter. Financial Connections Group Inc. acquired a new stake in ResMed in the second quarter valued at approximately $37,000. Finally, Riverview Trust Co bought a new stake in shares of ResMed during the first quarter worth $42,000. Institutional investors own 54.98% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on RMD. Citigroup cut ResMed from a “buy” rating to a “neutral” rating in a research note on Monday, June 24th. Oppenheimer lowered shares of ResMed from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. Wolfe Research reaffirmed an “underperform” rating and set a $180.00 price target on shares of ResMed in a research note on Wednesday, September 18th. KeyCorp boosted their price objective on shares of ResMed from $238.00 to $251.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, StockNews.com cut ResMed from a “buy” rating to a “hold” rating in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $199.70.

ResMed Price Performance

ResMed stock opened at $244.94 on Monday. The stock has a market capitalization of $35.98 billion, a price-to-earnings ratio of 37.63, a PEG ratio of 2.50 and a beta of 0.69. ResMed Inc. has a 52-week low of $132.24 and a 52-week high of $255.18. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.69 and a current ratio of 2.59. The stock’s 50 day moving average price is $226.91 and its two-hundred day moving average price is $209.61.

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

ResMed Increases Dividend

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

Insider Activity at ResMed

In related news, insider Kaushik Ghoshal sold 5,000 shares of the 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 completion of the sale, the insider now directly owns 21,788 shares of the company’s stock, valued at $5,502,777.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Justin Leong sold 48,000 shares of the stock in a transaction dated 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 sale, the insider now directly owns 18,741 shares of the company’s stock, valued at $4,068,108.87. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kaushik Ghoshal sold 5,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $252.56, for a total transaction of $1,262,800.00. Following the completion of the transaction, the insider now directly owns 21,788 shares of the company’s stock, valued at $5,502,777.28. The disclosure for this sale can be found here. Insiders have sold 102,931 shares of company stock valued at $22,644,807 over the last ninety days. Corporate insiders own 1.21% of the company’s stock.

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.