Hsbc Holdings PLC Acquires 49,253 Shares of ResMed Inc. $RMD

Hsbc Holdings PLC boosted its holdings in shares of ResMed Inc. (NYSE:RMD) by 17.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 328,785 shares of the medical equipment provider’s stock after acquiring an additional 49,253 shares during the quarter. Hsbc Holdings PLC’s holdings in ResMed were worth $79,321,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Landscape Capital Management L.L.C. lifted its holdings in ResMed by 123.2% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 49,017 shares of the medical equipment provider’s stock valued at $13,417,000 after purchasing an additional 27,060 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of ResMed by 37.2% in the fourth quarter. Nordea Investment Management AB now owns 1,084,996 shares of the medical equipment provider’s stock valued at $262,027,000 after purchasing an additional 294,124 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of ResMed by 20.2% in the third quarter. Russell Investments Group Ltd. now owns 112,755 shares of the medical equipment provider’s stock valued at $30,847,000 after purchasing an additional 18,966 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of ResMed by 13.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 979,087 shares of the medical equipment provider’s stock worth $235,833,000 after buying an additional 118,296 shares during the last quarter. Finally, Dundas Partners LLP lifted its stake in shares of ResMed by 15.1% during the 3rd quarter. Dundas Partners LLP now owns 175,117 shares of the medical equipment provider’s stock worth $47,935,000 after buying an additional 22,933 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

ResMed Price Performance

NYSE:RMD opened at $209.37 on Friday. ResMed Inc. has a 52 week low of $180.26 and a 52 week high of $293.81. The firm has a market cap of $30.37 billion, a price-to-earnings ratio of 20.19, a P/E/G ratio of 1.23 and a beta of 0.78. The firm’s 50-day simple moving average is $201.15 and its 200 day simple moving average is $229.51. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.33 and a current ratio of 3.01.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.07. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the previous year, the firm posted $2.37 EPS. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, sell-side analysts predict that ResMed Inc. will post 11.13 earnings per share for the current year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, May 14th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $2.40 dividend on an annualized basis and a yield of 1.1%. ResMed’s dividend payout ratio is currently 23.14%.

Insider Transactions at ResMed

In other ResMed news, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $193.96, for a total transaction of $968,054.36. Following the transaction, the chief executive officer owned 466,256 shares in the company, valued at $90,435,013.76. This trade represents a 1.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 14,973 shares of company stock worth $3,130,754 over the last 90 days. Corporate insiders own 0.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RMD. Morgan Stanley reiterated an “equal weight” rating and issued a $230.00 price target (down from $286.00) on shares of ResMed in a research note on Wednesday, June 17th. The Goldman Sachs Group restated a “buy” rating on shares of ResMed in a research report on Wednesday. KeyCorp reduced their price objective on ResMed from $290.00 to $266.00 and set an “overweight” rating for the company in a report on Monday, June 22nd. Evercore set a $255.00 target price on ResMed and gave the company an “outperform” rating in a research report on Monday, April 13th. Finally, Robert W. Baird set a $225.00 target price on ResMed in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $270.82.

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.