Baird Financial Group Inc. Has $51.44 Million Holdings in ResMed Inc. $RMD

Baird Financial Group Inc. lessened its stake in shares of ResMed Inc. (NYSE:RMD) by 7.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 199,359 shares of the medical equipment provider’s stock after selling 15,435 shares during the quarter. Baird Financial Group Inc. owned about 0.14% of ResMed worth $51,435,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Zions Bancorporation National Association UT bought a new stake in ResMed during the first quarter worth approximately $45,000. Groupe la Francaise acquired a new stake in shares of ResMed in the first quarter worth $45,000. Harbour Investments Inc. boosted its holdings in shares of ResMed by 264.2% during the 2nd quarter. Harbour Investments Inc. now owns 244 shares of the medical equipment provider’s stock worth $63,000 after buying an additional 177 shares during the period. Quarry LP grew its stake in ResMed by 141.1% in the 1st quarter. Quarry LP now owns 311 shares of the medical equipment provider’s stock valued at $70,000 after buying an additional 182 shares during the last quarter. Finally, Virtus Advisers LLC bought a new position in ResMed in the 2nd quarter worth $77,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Mizuho decreased their price target on shares of ResMed from $310.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, October 31st. UBS Group raised ResMed to a “strong-buy” rating in a research report on Tuesday, September 16th. Robert W. Baird lowered their target price on ResMed from $320.00 to $300.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. CLSA raised ResMed from a “hold” rating to an “outperform” rating in a research report on Tuesday, September 2nd. Finally, Royal Bank Of Canada increased their price objective on ResMed from $300.00 to $303.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, ResMed presently has an average rating of “Moderate Buy” and an average target price of $297.45.

Insider Buying and Selling

In other ResMed news, General Counsel Michael J. Rider sold 100 shares of the company’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $274.36, for a total value of $27,436.00. Following the sale, the general counsel directly owned 11,327 shares in the company, valued at $3,107,675.72. This represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael J. Farrell sold 8,011 shares of ResMed stock in a transaction on Friday, November 7th. The shares were sold at an average price of $249.75, for a total value of $2,000,747.25. Following the transaction, the chief executive officer directly owned 467,866 shares of the company’s stock, valued at approximately $116,849,533.50. The trade was a 1.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 22,662 shares of company stock valued at $5,946,466. 0.65% of the stock is currently owned by insiders.

ResMed Price Performance

Shares of ResMed stock opened at $251.45 on Friday. The firm has a market cap of $36.70 billion, a P/E ratio of 25.74, a price-to-earnings-growth ratio of 1.70 and a beta of 0.87. The firm’s 50-day simple moving average is $259.74 and its 200-day simple moving average is $263.46. ResMed Inc. has a twelve month low of $199.92 and a twelve month high of $293.81. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.13 and a current ratio of 2.89.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Friday, October 31st. The medical equipment provider reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.06. The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.33 billion. ResMed had a net margin of 27.35% and a return on equity of 25.45%. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.20 earnings per share. As a group, research analysts expect that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, November 13th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $2.40 annualized dividend and a yield of 1.0%. ResMed’s payout ratio is currently 24.56%.

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.