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

Hsbc Holdings PLC grew its holdings in shares of ResMed Inc. (NYSE:RMD) by 17.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 328,785 shares of the medical equipment provider’s stock after buying an additional 49,253 shares during the quarter. Hsbc Holdings PLC’s holdings in ResMed were worth $79,321,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. First Trust Advisors LP raised its holdings in ResMed by 240.9% during the fourth quarter. First Trust Advisors LP now owns 1,517,592 shares of the medical equipment provider’s stock worth $365,542,000 after acquiring an additional 1,072,394 shares in the last quarter. Norges Bank acquired a new position in shares of ResMed during the 4th quarter worth approximately $249,068,000. Deutsche Bank AG increased its position in shares of ResMed by 126.0% during the 4th quarter. Deutsche Bank AG now owns 1,413,477 shares of the medical equipment provider’s stock worth $340,464,000 after purchasing an additional 787,949 shares during the last quarter. Morgan Stanley raised its stake in shares of ResMed by 25.0% during the 4th quarter. Morgan Stanley now owns 2,891,697 shares of the medical equipment provider’s stock worth $696,523,000 after purchasing an additional 578,559 shares in the last quarter. Finally, Swedbank AB boosted its holdings in shares of ResMed by 103.1% in the 4th quarter. Swedbank AB now owns 1,102,476 shares of the medical equipment provider’s stock valued at $265,553,000 after buying an additional 559,765 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The shares were 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 this link. Also, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $193.96, for a total transaction of $968,054.36. Following the sale, the chief executive officer directly owned 466,256 shares of the company’s stock, valued at $90,435,013.76. The trade was 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 90 days, insiders have sold 16,973 shares of company stock valued at $3,580,754. 0.65% of the stock is currently owned by corporate insiders.

ResMed Stock Performance

Shares of NYSE RMD opened at $188.52 on Tuesday. The company has a current ratio of 3.01, a quick ratio of 2.33 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $27.35 billion, a P/E ratio of 18.18, a P/E/G ratio of 1.20 and a beta of 0.80. ResMed Inc. has a 12 month low of $180.26 and a 12 month high of $293.81. The stock has a 50 day moving average of $205.95 and a 200-day moving average of $232.61.

ResMed (NYSE:RMD) last posted 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. 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 prior year, the business earned $2.37 EPS. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, equities research analysts predict that ResMed Inc. will post 11.13 EPS for the current year.

ResMed Announces Dividend

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 $0.60 dividend. 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 presently 23.14%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Citigroup decreased their target price on shares of ResMed from $340.00 to $270.00 and set a “buy” rating for the company in a research note on Monday, June 15th. KeyCorp dropped their price target on shares of ResMed from $290.00 to $266.00 and set an “overweight” rating on the stock in a research report on Monday. Wells Fargo & Company cut their price target on shares of ResMed from $270.00 to $227.00 and set an “equal weight” rating for the company in a research note on Friday, May 1st. Robert W. Baird set a $225.00 price objective on shares of ResMed in a research report on Friday, May 1st. Finally, Wall Street Zen lowered shares of ResMed from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, ResMed has a consensus rating of “Moderate Buy” and a consensus target price of $270.82.

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.