Daiwa Securities Group Inc. Raises Stock Position in ResMed Inc. $RMD

Daiwa Securities Group Inc. raised its stake in ResMed Inc. (NYSE:RMD) by 10.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,776 shares of the medical equipment provider’s stock after buying an additional 3,046 shares during the period. Daiwa Securities Group Inc.’s holdings in ResMed were worth $7,895,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. State of Wyoming purchased a new position in ResMed in the fourth quarter valued at about $447,000. TD Asset Management Inc increased its stake in shares of ResMed by 12.1% during the 4th quarter. TD Asset Management Inc now owns 85,662 shares of the medical equipment provider’s stock worth $20,633,000 after purchasing an additional 9,256 shares in the last quarter. CIBC Asset Management Inc increased its stake in shares of ResMed by 67.4% during the 4th quarter. CIBC Asset Management Inc now owns 34,588 shares of the medical equipment provider’s stock worth $8,331,000 after purchasing an additional 13,920 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of ResMed by 7.4% during the 4th 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 in the last quarter. Finally, Goldman Sachs Group Inc. increased 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 purchasing an additional 118,296 shares in the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on RMD shares. Weiss Ratings cut shares of ResMed from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 22nd. Citigroup dropped their price objective on shares of ResMed from $345.00 to $340.00 and set a “buy” rating for the company in a research note on Thursday, April 9th. Wall Street Zen cut shares of ResMed from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Robert W. Baird set a $225.00 price objective on shares of ResMed in a research note on Friday, May 1st. Finally, Royal Bank Of Canada raised their price objective on shares of ResMed from $314.00 to $321.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, ResMed has an average rating of “Moderate Buy” and a consensus target price of $286.18.

Insiders Place Their Bets

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total value of $450,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction on 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 owned 466,223 shares in the company, valued at approximately $96,890,463.86. This trade represents a 1.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 11,982 shares of company stock worth $2,612,700. 0.65% of the stock is owned by company insiders.

ResMed Stock Down 0.0%

Shares of RMD opened at $195.95 on Monday. The firm has a market cap of $28.42 billion, a PE ratio of 18.90, a price-to-earnings-growth ratio of 1.25 and a beta of 0.80. The company’s fifty day moving average is $213.11 and its two-hundred day moving average is $237.15. ResMed Inc. has a fifty-two week low of $180.26 and a fifty-two week high of $293.81. 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 announced its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.07. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.42 billion. ResMed had a net margin of 27.44% and a return on equity of 25.35%. ResMed’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter last year, the business earned $2.37 EPS. Analysts forecast 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 will be paid on Thursday, June 18th. Shareholders of record on Thursday, May 14th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Thursday, May 14th. ResMed’s dividend payout ratio (DPR) is 23.14%.

ResMed 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.