Daiwa Securities Group Inc. Acquires 2,389 Shares of ResMed Inc. (NYSE:RMD)

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

Several other institutional investors have also bought and sold shares of RMD. OFI Invest Asset Management purchased a new stake in shares of ResMed during the 2nd quarter valued at about $32,000. Ashton Thomas Securities LLC purchased a new stake in ResMed during the third quarter valued at approximately $34,000. Versant Capital Management Inc raised its position in ResMed by 196.7% during the second quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 120 shares during the period. Financial Connections Group Inc. bought a new stake in shares of ResMed in the 2nd quarter valued at approximately $37,000. Finally, Blue Trust Inc. boosted its holdings in shares of ResMed by 182.7% in the 2nd quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock worth $42,000 after purchasing an additional 137 shares during the period. Institutional investors own 54.98% of the company’s stock.

Insider Buying and Selling at ResMed

In other ResMed news, Director Witte Jan De sold 796 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total transaction of $198,052.76. Following the sale, the director now owns 6,723 shares of the company’s stock, valued at approximately $1,672,749.63. This trade represents a 10.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kaushik Ghoshal sold 5,000 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $252.56, for a total value of $1,262,800.00. Following the completion of the transaction, the insider now directly owns 21,788 shares of the company’s stock, valued at approximately $5,502,777.28. The trade was a 18.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 68,334 shares of company stock valued at $16,379,713. Company insiders own 0.71% of the company’s stock.

ResMed Stock Up 0.2 %

Shares of NYSE RMD opened at $249.99 on Wednesday. ResMed Inc. has a 52-week low of $151.95 and a 52-week high of $260.49. The firm has a market capitalization of $36.70 billion, a price-to-earnings ratio of 33.11, a PEG ratio of 1.77 and a beta of 0.69. The stock has a 50 day moving average price of $241.80 and a 200 day moving average price of $225.04. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92.

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

ResMed Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on RMD. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Royal Bank of Canada raised their target price on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Bank of America upped their price target on shares of ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, September 26th. 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 research note on Friday, October 25th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, ResMed currently has a consensus rating of “Moderate Buy” and an average price target of $225.70.

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.