GTS Securities LLC Acquires 9,129 Shares of ResMed Inc. $RMD

GTS Securities LLC boosted its holdings in ResMed Inc. (NYSE:RMD) by 659.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 10,514 shares of the medical equipment provider’s stock after acquiring an additional 9,129 shares during the period. GTS Securities LLC’s holdings in ResMed were worth $2,049,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of ResMed during the 2nd quarter worth approximately $2,400,375,000. State Street Corp increased its position in shares of ResMed by 1.2% in the fourth quarter. State Street Corp now owns 6,625,408 shares of the medical equipment provider’s stock worth $1,595,862,000 after purchasing an additional 76,244 shares during the period. Bank of New York Mellon Corp increased its position in shares of ResMed by 0.7% in the first quarter. Bank of New York Mellon Corp now owns 4,925,386 shares of the medical equipment provider’s stock worth $1,105,651,000 after purchasing an additional 34,732 shares during the period. Geode Capital Management LLC raised its stake in ResMed by 1.2% in 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 purchasing an additional 51,218 shares in the last quarter. Finally, Morgan Stanley increased its holdings in ResMed by 25.0% in the 4th 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. Institutional investors own 54.98% of the company’s stock.

Wall Street Analysts Forecast Growth

RMD has been the subject of a number of recent analyst reports. Citigroup reaffirmed a “neutral” rating and set a $235.00 price target (down from $270.00) on shares of ResMed in a report on Sunday, July 12th. Piper Sandler decreased their target price on ResMed from $233.00 to $225.00 and set a “neutral” rating on the stock in a research report on Friday, August 7th. Mizuho dropped their target price on shares of ResMed from $235.00 to $220.00 and set an “outperform” rating for the company in a report on Wednesday, July 15th. Morgan Stanley restated an “equal weight” rating and issued a $230.00 price target (down from $286.00) on shares of ResMed in a research note on Wednesday, June 17th. Finally, KeyCorp decreased their price target on shares of ResMed from $260.00 to $255.00 and set an “overweight” rating on the stock in a report on Friday, August 7th. Seven investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $239.38.

Insider Activity at ResMed

In other ResMed news, Director Peter C. Farrell sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $225.00, for a total transaction of $1,800,000.00. Following the sale, the director directly owned 52,773 shares of the company’s stock, valued at $11,873,925. The trade was a 13.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $205.69, for a total transaction of $1,026,598.79. Following the completion of the transaction, the chief executive officer owned 466,256 shares of the company’s stock, valued at approximately $95,904,196.64. This trade represents a 1.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 22,973 shares of company stock worth $4,885,436. 0.65% of the stock is owned by corporate insiders.

ResMed Trading Up 2.0%

NYSE RMD opened at $240.47 on Friday. The company has a quick ratio of 2.42, a current ratio of 3.10 and a debt-to-equity ratio of 0.06. ResMed Inc. has a twelve month low of $180.26 and a twelve month high of $284.87. The company has a market cap of $34.69 billion, a price-to-earnings ratio of 23.06, a price-to-earnings-growth ratio of 1.51 and a beta of 0.76. The business’s fifty day moving average is $211.81 and its 200 day moving average is $219.18.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, August 6th. The medical equipment provider reported $2.95 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.06. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. ResMed had a return on equity of 25.58% and a net margin of 26.94%.ResMed’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.55 EPS. As a group, sell-side analysts expect that ResMed Inc. will post 12.03 EPS for the current fiscal year.

ResMed Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, August 20th will be given a dividend of $0.66 per share. The ex-dividend date is Thursday, August 20th. This represents a $2.64 annualized dividend and a yield of 1.1%. This is a boost from ResMed’s previous quarterly dividend of $0.60. ResMed’s dividend payout ratio is 25.31%.

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.