SG Americas Securities LLC Raises Position in ResMed Inc. (NYSE:RMD)

SG Americas Securities LLC lifted its holdings in shares of ResMed Inc. (NYSE:RMD) by 272.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,100 shares of the medical equipment provider’s stock after purchasing an additional 13,974 shares during the period. SG Americas Securities LLC’s holdings in ResMed were worth $4,368,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of RMD. Dakota Wealth Management bought a new position in ResMed in the 4th quarter worth about $2,854,000. Simon Quick Advisors LLC raised its position in ResMed by 9.0% in the 4th quarter. Simon Quick Advisors LLC now owns 1,649 shares of the medical equipment provider’s stock worth $377,000 after purchasing an additional 136 shares during the period. Atomi Financial Group Inc. bought a new stake in shares of ResMed in the 4th quarter valued at about $246,000. Perpetual Ltd purchased a new stake in shares of ResMed during the fourth quarter valued at approximately $630,000. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in ResMed by 1.6% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 66,597 shares of the medical equipment provider’s stock worth $15,230,000 after acquiring an additional 1,027 shares during the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Justin Leong sold 6,160 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $243.09, for a total value of $1,497,434.40. Following the sale, the insider now owns 21,718 shares of the company’s stock, valued at approximately $5,279,428.62. This trade represents a 22.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total transaction of $491,300.00. Following the sale, the director now owns 81,218 shares in the company, valued at approximately $19,951,201.70. This represents a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,099 shares of company stock valued at $2,719,385. Company insiders own 0.71% of the company’s stock.

ResMed Stock Performance

Shares of RMD stock opened at $250.32 on Friday. ResMed Inc. has a 1 year low of $170.56 and a 1 year high of $260.49. The firm has a market cap of $36.75 billion, a price-to-earnings ratio of 33.15, a PEG ratio of 1.78 and a beta of 0.70. The stock’s 50-day moving average is $238.94 and its two-hundred day moving average is $234.00. 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 quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the prior year, the company earned $1.64 EPS. The firm’s revenue was up 11.1% on a year-over-year basis. Analysts predict that ResMed Inc. will post 9.35 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RMD. Stifel Nicolaus began coverage on ResMed in a research report on Friday, December 13th. They set a “hold” rating and a $250.00 price target on the stock. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a report on Friday, October 25th. Robert W. Baird increased their price target on ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a report on Friday, October 25th. The Goldman Sachs Group began coverage on shares of ResMed in a report on Thursday, January 16th. They set a “buy” rating for the company. Finally, Piper Sandler initiated coverage on ResMed in a research note on Friday, January 10th. They issued a “neutral” rating and a $252.00 price objective on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $233.09.

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.