SG Americas Securities LLC Acquires 47,758 Shares of ResMed Inc. $RMD

SG Americas Securities LLC increased its holdings in shares of ResMed Inc. (NYSE:RMD) by 572.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,101 shares of the medical equipment provider’s stock after buying an additional 47,758 shares during the period. SG Americas Securities LLC’s holdings in ResMed were worth $15,357,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Entropy Technologies LP grew its stake in ResMed by 188.7% during the second quarter. Entropy Technologies LP now owns 16,384 shares of the medical equipment provider’s stock worth $4,227,000 after purchasing an additional 10,708 shares during the period. Quantbot Technologies LP boosted its holdings in shares of ResMed by 244.8% during the 2nd quarter. Quantbot Technologies LP now owns 36,355 shares of the medical equipment provider’s stock worth $9,380,000 after buying an additional 25,810 shares in the last quarter. American Century Companies Inc. grew its position in shares of ResMed by 0.7% during the 2nd quarter. American Century Companies Inc. now owns 175,901 shares of the medical equipment provider’s stock worth $45,382,000 after buying an additional 1,183 shares during the period. Norges Bank bought a new stake in shares of ResMed in the 2nd quarter valued at $306,452,000. Finally, Neuberger Berman Group LLC increased its stake in shares of ResMed by 71.2% in the 2nd quarter. Neuberger Berman Group LLC now owns 53,916 shares of the medical equipment provider’s stock valued at $13,910,000 after acquiring an additional 22,431 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Stock Performance

NYSE RMD opened at $250.90 on Friday. The company has a fifty day moving average price of $248.33 and a 200-day moving average price of $263.17. The firm has a market cap of $36.62 billion, a price-to-earnings ratio of 25.68, a PEG ratio of 1.67 and a beta of 0.88. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.89 and a quick ratio of 2.13. ResMed Inc. has a 1 year low of $199.92 and a 1 year high of $293.81.

ResMed (NYSE:RMD) last released its quarterly earnings results on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.06. ResMed had a net margin of 27.35% and a return on equity of 25.45%. The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the previous year, the company earned $2.20 earnings per share. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, equities research analysts predict that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, November 13th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Thursday, November 13th. ResMed’s dividend payout ratio (DPR) is presently 24.56%.

Wall Street Analyst Weigh In

A number of research firms have commented on RMD. Baird R W cut shares of ResMed from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 16th. Stifel Nicolaus cut their price objective on shares of ResMed from $270.00 to $260.00 and set a “hold” rating on the stock in a research report on Thursday, December 18th. Wells Fargo & Company assumed coverage on ResMed in a research report on Monday, October 13th. They issued an “equal weight” rating and a $280.00 target price for the company. Mizuho dropped their price target on ResMed from $310.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, October 31st. Finally, KeyCorp raised their price objective on ResMed from $298.00 to $299.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $296.09.

Insider Buying and Selling

In other news, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $248.46, for a total transaction of $1,240,063.86. Following the sale, the chief executive officer directly owned 466,223 shares in the company, valued at $115,837,766.58. The trade was a 1.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Witte Jan De sold 2,055 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $255.00, for a total transaction of $524,025.00. Following the completion of the transaction, the director directly owned 4,261 shares in the company, valued at $1,086,555. This trade represents a 32.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 19,594 shares of company stock worth $4,905,835. 0.65% of the stock is owned by company insiders.

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.