Y Intercept Hong Kong Ltd Purchases 6,426 Shares of ResMed Inc. $RMD

Y Intercept Hong Kong Ltd boosted its position in ResMed Inc. (NYSE:RMD) by 46.5% during the 1st quarter, HoldingsChannel reports. The firm owned 20,251 shares of the medical equipment provider’s stock after purchasing an additional 6,426 shares during the period. Y Intercept Hong Kong Ltd’s holdings in ResMed were worth $4,546,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. State Street Corp increased its position in shares of ResMed by 1.2% during 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 last quarter. Bank of New York Mellon Corp boosted its holdings in shares of 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 worth $1,178,012,000 after buying an additional 337,738 shares during the last quarter. Geode Capital Management LLC grew its position in ResMed by 1.2% during 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 buying an additional 51,218 shares during the period. Morgan Stanley grew its position in ResMed by 25.0% during the fourth quarter. Morgan Stanley now owns 2,891,697 shares of the medical equipment provider’s stock valued at $696,523,000 after buying an additional 578,559 shares during the period. Finally, Northern Trust Corp increased its holdings in ResMed by 5.2% during 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 last quarter. 54.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird set a $225.00 price objective on shares of ResMed in a research report on Friday, May 1st. JPMorgan Chase & Co. began coverage on ResMed in a research report on Wednesday, April 15th. They set an “overweight” rating on the stock. Wall Street Zen lowered ResMed from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Evercore set a $255.00 price target on ResMed and gave the stock an “outperform” rating in a research report on Monday, April 13th. Finally, Royal Bank Of Canada raised their price objective on ResMed from $314.00 to $321.00 and gave the stock an “outperform” rating 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 six have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $270.82.

ResMed Price Performance

RMD stock opened at $209.37 on Monday. ResMed Inc. has a one year low of $180.26 and a one year high of $293.81. The company’s fifty day moving average price is $201.15 and its 200-day moving average price is $229.34. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.33 and a current ratio of 3.01. The company has a market capitalization of $30.37 billion, a PE ratio of 20.19, a price-to-earnings-growth ratio of 1.23 and a beta of 0.78.

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

ResMed Announces Dividend

The firm also recently announced 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. This represents a $2.40 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Thursday, May 14th. ResMed’s dividend payout ratio is currently 23.14%.

Insider Activity at ResMed

In related news, CEO Michael J. Farrell sold 4,991 shares of the 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 transaction, the chief executive officer owned 466,256 shares of the company’s stock, valued at approximately $90,435,013.76. This trade represents a 1.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 14,973 shares of company stock valued at $3,130,754. 0.65% of the stock is currently owned by company insiders.

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.