Daiwa Securities Group Inc. Increases Stock Position in ResMed Inc. (NYSE:RMD)

Daiwa Securities Group Inc. boosted its holdings in ResMed Inc. (NYSE:RMD) by 11.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,799 shares of the medical equipment provider’s stock after acquiring an additional 2,389 shares during the quarter. Daiwa Securities Group Inc.’s holdings in ResMed were worth $5,810,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its stake in shares of ResMed by 51.4% in the second quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider’s stock worth $1,105,022,000 after acquiring an additional 1,959,642 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in ResMed by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 924,047 shares of the medical equipment provider’s stock worth $225,578,000 after purchasing an additional 13,985 shares during the last quarter. Los Angeles Capital Management LLC grew its position in ResMed by 48.3% in the 2nd quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider’s stock worth $141,694,000 after purchasing an additional 241,195 shares during the period. Greenvale Capital LLP raised its stake in ResMed by 61.1% during the 2nd quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock valued at $138,780,000 after buying an additional 275,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of ResMed by 19.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 661,717 shares of the medical equipment provider’s stock valued at $126,670,000 after buying an additional 107,279 shares during the period. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Justin Leong sold 6,160 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the completion of the transaction, the insider now owns 21,718 shares in the company, valued at approximately $5,279,428.62. This represents a 22.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael J. Farrell sold 14,683 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $248.38, for a total transaction of $3,646,963.54. Following the transaction, the chief executive officer now directly owns 464,169 shares of the company’s stock, valued at $115,290,296.22. The trade was a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,334 shares of company stock worth $16,379,713 in the last three months. 0.71% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently commented on RMD. Baird R W upgraded ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. Wolfe Research reaffirmed an “underperform” rating and set a $180.00 price target on shares of ResMed in a research report on Wednesday, September 18th. Robert W. Baird raised their price objective on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a report on Friday, October 25th. Finally, StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, ResMed currently has an average rating of “Moderate Buy” and an average target price of $225.70.

ResMed Stock Performance

Shares of NYSE RMD opened at $249.99 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. ResMed Inc. has a 1 year low of $151.95 and a 1 year high of $260.49. The firm has a fifty day moving average price of $241.80 and a 200-day moving average price of $225.04. The stock has a market cap of $36.70 billion, a PE ratio of 33.11, a price-to-earnings-growth ratio of 1.77 and a beta of 0.69.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the business posted $1.64 EPS. ResMed’s revenue for the quarter was up 11.1% compared to the same quarter last year. Equities analysts anticipate that ResMed Inc. will post 9.28 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be issued a $0.53 dividend. The ex-dividend date is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a yield of 0.85%. ResMed’s dividend payout ratio is presently 28.08%.

ResMed Profile

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.