SG Americas Securities LLC Sells 14,333 Shares of ResMed Inc. (NYSE:RMD)

SG Americas Securities LLC reduced its position in shares of ResMed Inc. (NYSE:RMD) by 75.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,767 shares of the medical equipment provider’s stock after selling 14,333 shares during the quarter. SG Americas Securities LLC’s holdings in ResMed were worth $1,067,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Colonial Trust Co SC raised its holdings in shares of ResMed by 6,250.0% in the 4th quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 125 shares during the period. Optiver Holding B.V. acquired a new position in ResMed during the fourth quarter worth approximately $33,000. Itau Unibanco Holding S.A. increased its position in ResMed by 1,000.0% during the fourth quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider’s stock worth $38,000 after buying an additional 150 shares during the last quarter. OFI Invest Asset Management bought a new stake in ResMed in the fourth quarter valued at approximately $39,000. Finally, Coppell Advisory Solutions LLC lifted its position in shares of ResMed by 1,750.0% in the fourth quarter. Coppell Advisory Solutions LLC now owns 185 shares of the medical equipment provider’s stock valued at $42,000 after buying an additional 175 shares during the last quarter. 54.98% of the stock is owned by institutional investors.

Insider Activity at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $219.74, for a total value of $439,480.00. Following the completion of the transaction, the director now owns 73,218 shares of the company’s stock, valued at $16,088,923.32. This represents a 2.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $209.85, for a total transaction of $1,680,688.65. Following the completion of the transaction, the chief executive officer now owns 455,472 shares of the company’s stock, valued at approximately $95,580,799.20. This trade represents a 1.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,132 shares of company stock valued at $7,075,837 in the last quarter. Insiders own 0.71% of the company’s stock.

ResMed Price Performance

Shares of NYSE RMD opened at $250.14 on Wednesday. The business has a fifty day moving average price of $238.42 and a two-hundred day moving average price of $234.76. The stock has a market capitalization of $36.68 billion, a PE ratio of 28.07, a P/E/G ratio of 1.73 and a beta of 0.78. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.41 and a quick ratio of 2.49. ResMed Inc. has a fifty-two week low of $179.42 and a fifty-two week high of $263.05.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.01. ResMed had a net margin of 26.15% and a return on equity of 25.67%. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter last year, the business posted $2.13 EPS. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. As a group, equities analysts predict that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 8th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.85%. The ex-dividend date was Thursday, May 8th. ResMed’s dividend payout ratio (DPR) is presently 23.79%.

Wall Street Analyst Weigh In

RMD has been the topic of a number of research analyst reports. Mizuho set a $265.00 price target on ResMed in a research note on Wednesday, April 16th. Morgan Stanley set a $286.00 target price on shares of ResMed and gave the stock an “overweight” rating in a report on Tuesday, May 20th. JPMorgan Chase & Co. upped their price target on shares of ResMed from $286.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. Wall Street Zen downgraded shares of ResMed from a “buy” rating to a “hold” rating in a research report on Saturday, May 24th. Finally, UBS Group reduced their price objective on ResMed from $290.00 to $285.00 and set a “buy” rating for the company in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $259.33.

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.