Maven Securities LTD Invests $869,000 in ResMed Inc. $RMD

Maven Securities LTD bought a new stake in ResMed Inc. (NYSE:RMD) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,386 shares of the medical equipment provider’s stock, valued at approximately $869,000.

Other large investors have also added to or reduced their stakes in the company. Zions Bancorporation National Association UT purchased a new position in shares of ResMed in the 1st quarter worth about $45,000. Groupe la Francaise bought a new stake in ResMed in the 1st quarter worth approximately $45,000. Harbour Investments Inc. boosted its stake in ResMed by 264.2% in the second quarter. Harbour Investments Inc. now owns 244 shares of the medical equipment provider’s stock worth $63,000 after buying an additional 177 shares in the last quarter. Quarry LP boosted its stake in ResMed by 141.1% in the first quarter. Quarry LP now owns 311 shares of the medical equipment provider’s stock worth $70,000 after buying an additional 182 shares in the last quarter. Finally, Virtus Advisers LLC bought a new position in ResMed during the second quarter valued at approximately $77,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Analyst Ratings Changes

RMD has been the subject of a number of recent research reports. CLSA upgraded shares of ResMed from a “hold” rating to an “outperform” rating in a report on Tuesday, September 2nd. Citigroup initiated coverage on shares of ResMed in a research note on Thursday, September 18th. They issued a “buy” rating and a $330.00 price target for the company. Morgan Stanley set a $305.00 price target on shares of ResMed in a research report on Friday, October 31st. Wells Fargo & Company initiated coverage on ResMed in a report on Monday, October 13th. They issued an “equal weight” rating and a $280.00 price objective on the stock. Finally, Robert W. Baird dropped their target price on ResMed from $320.00 to $300.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, ResMed currently has a consensus rating of “Moderate Buy” and an average price target of $297.45.

ResMed Price Performance

RMD stock opened at $246.44 on Wednesday. The stock has a market capitalization of $35.97 billion, a price-to-earnings ratio of 25.22, a PEG ratio of 1.69 and a beta of 0.87. The firm’s 50-day moving average price is $258.49 and its two-hundred day moving average price is $263.77. The company has a current ratio of 2.89, a quick ratio of 2.13 and a debt-to-equity ratio of 0.07. ResMed Inc. has a 12-month low of $199.92 and a 12-month high of $293.81.

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

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, November 13th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Thursday, November 13th. ResMed’s dividend payout ratio (DPR) is currently 24.56%.

Insiders Place Their Bets

In related news, Director Witte Jan De sold 2,055 shares of the company’s stock in a transaction that occurred on 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 owned 4,261 shares in the company, valued at $1,086,555. This represents a 32.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Michael J. Rider sold 100 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $274.36, for a total value of $27,436.00. Following the completion of the sale, the general counsel directly owned 11,327 shares of the company’s stock, valued at $3,107,675.72. The trade was a 0.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 22,662 shares of company stock valued at $5,946,466 over the last three months. 0.65% of the stock is currently owned by corporate insiders.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.