ResMed Inc. $RMD Shares Bought by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. raised its stake in ResMed Inc. (NYSE:RMD) by 10.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,776 shares of the medical equipment provider’s stock after acquiring an additional 3,046 shares during the period. Daiwa Securities Group Inc.’s holdings in ResMed were worth $7,895,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of RMD. Norges Bank acquired a new position in ResMed in the fourth quarter valued at $249,068,000. Swedbank AB boosted its stake in ResMed by 103.1% in the fourth quarter. Swedbank AB now owns 1,102,476 shares of the medical equipment provider’s stock valued at $265,553,000 after acquiring an additional 559,765 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in ResMed by 7.4% in the fourth quarter. Bank of New York Mellon Corp now owns 4,890,654 shares of the medical equipment provider’s stock valued at $1,178,012,000 after acquiring an additional 337,738 shares in the last quarter. First Trust Advisors LP boosted its stake in ResMed by 285.1% in the third quarter. First Trust Advisors LP now owns 445,198 shares of the medical equipment provider’s stock valued at $121,864,000 after acquiring an additional 329,588 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in ResMed by 2,373.1% in the third quarter. Marshall Wace LLP now owns 310,987 shares of the medical equipment provider’s stock valued at $85,126,000 after acquiring an additional 298,412 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Activity

In related news, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $207.82, for a total transaction of $1,037,229.62. Following the completion of the transaction, the chief executive officer directly owned 466,223 shares of the company’s stock, valued at $96,890,463.86. This represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total transaction of $450,000.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 11,982 shares of company stock valued at $2,612,700 over the last three months. 0.65% of the stock is currently owned by corporate insiders.

ResMed Trading Down 0.0%

NYSE RMD opened at $195.95 on Monday. The stock has a market capitalization of $28.42 billion, a P/E ratio of 18.90, a P/E/G ratio of 1.25 and a beta of 0.80. ResMed Inc. has a 52-week low of $180.26 and a 52-week high of $293.81. The firm has a 50-day moving average price of $213.11 and a 200 day moving average price of $237.15. The company has a quick ratio of 2.33, a current ratio of 3.01 and a debt-to-equity ratio of 0.06.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.79 by $0.07. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.42 billion. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.37 earnings per share. Equities research analysts expect that ResMed Inc. will post 11.13 EPS for the current year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, May 14th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Thursday, May 14th. ResMed’s dividend payout ratio is currently 23.14%.

Analyst Ratings Changes

Several research firms have issued reports on RMD. Wall Street Zen downgraded shares of ResMed from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Royal Bank Of Canada upped their price objective on shares of ResMed from $314.00 to $321.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. KeyCorp decreased their price objective on shares of ResMed from $302.00 to $290.00 and set an “overweight” rating for the company in a research note on Monday, April 27th. Wells Fargo & Company decreased their target price on shares of ResMed from $270.00 to $227.00 and set an “equal weight” rating for the company in a research note on Friday, May 1st. Finally, Robert W. Baird set a $225.00 target price on shares of ResMed in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $286.18.

ResMed Company Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.