Hsbc Holdings PLC Has $79.32 Million Stake in ResMed Inc. $RMD

Hsbc Holdings PLC increased its holdings in shares of ResMed Inc. (NYSE:RMD) by 17.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 328,785 shares of the medical equipment provider’s stock after buying an additional 49,253 shares during the period. Hsbc Holdings PLC owned 0.23% of ResMed worth $79,321,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. State Street Corp lifted its stake in shares of ResMed by 1.2% in the 4th quarter. State Street Corp now owns 6,625,408 shares of the medical equipment provider’s stock valued at $1,595,862,000 after purchasing an additional 76,244 shares during the period. Bank of New York Mellon Corp grew its stake in shares of ResMed by 7.4% during the fourth quarter. Bank of New York Mellon Corp now owns 4,890,654 shares of the medical equipment provider’s stock worth $1,178,012,000 after purchasing an additional 337,738 shares during the period. Geode Capital Management LLC increased its holdings in ResMed by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 4,302,906 shares of the medical equipment provider’s stock valued at $1,032,877,000 after purchasing an additional 51,218 shares during the last quarter. Morgan Stanley increased its holdings in ResMed by 25.0% in the fourth quarter. Morgan Stanley now owns 2,891,697 shares of the medical equipment provider’s stock valued at $696,523,000 after purchasing an additional 578,559 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in ResMed by 5.2% in the fourth quarter. Northern Trust Corp now owns 1,785,384 shares of the medical equipment provider’s stock valued at $430,045,000 after buying an additional 87,502 shares during the period. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $225.00, for a total transaction of $450,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $193.96, for a total value of $968,054.36. Following the completion of the sale, the chief executive officer directly owned 466,256 shares in the company, valued at $90,435,013.76. This represents a 1.06% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 16,973 shares of company stock worth $3,580,754. 0.65% of the stock is currently owned by company insiders.

ResMed Stock Down 0.1%

Shares of ResMed stock opened at $188.52 on Tuesday. The company has a market capitalization of $27.35 billion, a P/E ratio of 18.18, a price-to-earnings-growth ratio of 1.20 and a beta of 0.80. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.01 and a quick ratio of 2.33. The business has a 50-day moving average of $205.95 and a two-hundred day moving average of $232.61. ResMed Inc. has a 1 year low of $180.26 and a 1 year high of $293.81.

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

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders 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 annualized dividend and a dividend yield of 1.3%. ResMed’s dividend payout ratio is currently 23.14%.

Analysts Set New Price Targets

A number of brokerages have issued reports on RMD. Royal Bank Of Canada raised their target price on ResMed from $314.00 to $321.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. Wells Fargo & Company cut their price target on shares of ResMed from $270.00 to $227.00 and set an “equal weight” rating on the stock in a research report on Friday, May 1st. Evercore set a $255.00 price objective on shares of ResMed and gave the stock an “outperform” rating in a research note on Monday, April 13th. Robert W. Baird set a $225.00 price objective on shares of ResMed in a report on Friday, May 1st. Finally, KeyCorp lowered their target price on shares of ResMed from $290.00 to $266.00 and set an “overweight” rating for the company in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $270.82.

About ResMed

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.