Ensign Peak Advisors Inc Increases Stock Holdings in ResMed Inc. (NYSE:RMD)

Ensign Peak Advisors Inc increased its holdings in shares of ResMed Inc. (NYSE:RMD) by 18.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 85,710 shares of the medical equipment provider’s stock after buying an additional 13,324 shares during the quarter. Ensign Peak Advisors Inc owned about 0.06% of ResMed worth $16,407,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of ResMed by 24.9% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,083 shares of the medical equipment provider’s stock worth $35,068,000 after acquiring an additional 35,273 shares during the period. Mediolanum International Funds Ltd acquired a new position in shares of ResMed in the 1st quarter valued at $2,246,000. Janney Montgomery Scott LLC grew its stake in shares of ResMed by 5.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 81,313 shares of the medical equipment provider’s stock valued at $16,102,000 after buying an additional 4,075 shares during the period. Los Angeles Capital Management LLC increased its holdings in shares of ResMed by 3,599.0% during the 1st quarter. Los Angeles Capital Management LLC now owns 499,031 shares of the medical equipment provider’s stock worth $98,823,000 after buying an additional 485,540 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new position in shares of ResMed in the 4th quarter worth $7,535,000. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Stock Performance

Shares of RMD stock opened at $246.18 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.59 and a quick ratio of 1.69. The company’s fifty day moving average price is $227.73 and its two-hundred day moving average price is $209.99. The firm has a market capitalization of $36.17 billion, a P/E ratio of 37.82, a P/E/G ratio of 2.50 and a beta of 0.69. ResMed Inc. has a 12 month low of $132.24 and a 12 month high of $255.18.

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

ResMed Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, August 15th were issued a $0.53 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This is a boost from ResMed’s previous quarterly dividend of $0.48. This represents a $2.12 annualized dividend and a yield of 0.86%. ResMed’s dividend payout ratio is currently 32.57%.

Insider Buying and Selling at ResMed

In other news, insider Justin Leong sold 48,000 shares of the company’s 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 owns 18,741 shares in the company, valued at approximately $4,068,108.87. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Kaushik Ghoshal sold 5,000 shares of the firm’s stock in a transaction 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 $5,502,777.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Justin Leong sold 48,000 shares of ResMed stock in a transaction on Monday, August 5th. The stock was sold at an average price of $217.07, for a total transaction of $10,419,360.00. Following the completion of the transaction, the insider now directly owns 18,741 shares of the company’s stock, valued at approximately $4,068,108.87. The disclosure for this sale can be found here. Insiders have sold 102,931 shares of company stock worth $22,644,807 in the last ninety days. 1.21% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on RMD shares. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research report on Wednesday, September 18th. Royal Bank of Canada raised their price target on shares of ResMed from $204.00 to $206.00 and gave the company a “sector perform” rating in a report on Friday, August 2nd. Citigroup downgraded shares of ResMed from a “buy” rating to a “neutral” rating in a research note on Monday, June 24th. Oppenheimer downgraded shares of ResMed from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. Finally, KeyCorp upped their price target on shares of ResMed from $238.00 to $251.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $199.70.

About ResMed

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.