SG Americas Securities LLC Acquires 51,201 Shares of ResMed Inc. $RMD

SG Americas Securities LLC grew its stake in shares of ResMed Inc. (NYSE:RMD) by 111.1% in the first quarter, Holdings Channel reports. The firm owned 97,275 shares of the medical equipment provider’s stock after acquiring an additional 51,201 shares during the period. SG Americas Securities LLC’s holdings in ResMed were worth $21,836,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of RMD. International Assets Investment Management LLC bought a new position in shares of ResMed during the 4th quarter worth $25,000. ORG Partners LLC increased its position in ResMed by 181.6% during the 4th quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 69 shares during the period. Imprint Wealth LLC bought a new stake in shares of ResMed in the 3rd quarter valued at about $26,000. WFA of San Diego LLC purchased a new stake in shares of ResMed in the 2nd quarter worth approximately $26,000. Finally, Sunbelt Securities Inc. purchased a new stake in shares of ResMed in the 3rd quarter worth approximately $31,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Trading Up 2.7%

Shares of NYSE:RMD opened at $196.34 on Thursday. ResMed Inc. has a 1 year low of $180.26 and a 1 year high of $293.81. 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 firm has a market capitalization of $28.48 billion, a P/E ratio of 18.93, a P/E/G ratio of 1.22 and a beta of 0.80. The business’s 50-day moving average is $204.53 and its 200 day moving average is $231.80.

ResMed (NYSE:RMD) last released its earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.07. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations 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 period last year, the business earned $2.37 EPS. On average, research analysts predict that ResMed Inc. will post 11.13 earnings per share for the current fiscal year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Thursday, May 14th were issued a $0.60 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.2%. ResMed’s dividend payout ratio (DPR) is currently 23.14%.

Wall Street Analysts Forecast Growth

RMD has been the topic of a number of recent research reports. Citigroup dropped their price objective on shares of ResMed from $340.00 to $270.00 and set a “buy” rating on the stock in a research note on Monday, June 15th. Royal Bank Of Canada upped 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. Weiss Ratings cut ResMed from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 22nd. KeyCorp cut their price target on ResMed from $290.00 to $266.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Evercore set a $255.00 price target on ResMed and gave the stock an “outperform” rating in a research report on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $270.82.

Insider Buying and Selling at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $225.00, for a total value of $450,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was 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 $90,435,013.76. This trade represents a 1.06% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 16,973 shares of company stock valued at $3,580,754 over the last quarter. Insiders own 0.65% of the company’s stock.

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.