SG Americas Securities LLC Cuts Stock Position in ResMed Inc. $RMD

SG Americas Securities LLC decreased its holdings in ResMed Inc. (NYSE:RMD) by 17.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 46,074 shares of the medical equipment provider’s stock after selling 10,027 shares during the quarter. SG Americas Securities LLC’s holdings in ResMed were worth $11,098,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in RMD. SJS Investment Consulting Inc. lifted its holdings in ResMed by 1,433.3% during the 3rd quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 86 shares in the last quarter. Imprint Wealth LLC acquired a new position in shares of ResMed in the third quarter worth $26,000. WFA of San Diego LLC purchased a new stake in shares of ResMed during the second quarter worth $26,000. Sunbelt Securities Inc. purchased a new stake in shares of ResMed during the third quarter worth $31,000. Finally, Westside Investment Management Inc. raised its stake in shares of ResMed by 100.0% in the third quarter. Westside Investment Management Inc. now owns 132 shares of the medical equipment provider’s stock valued at $36,000 after acquiring an additional 66 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Activity

In related news, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $251.03, for a total value of $1,252,890.73. Following the completion of the transaction, the chief executive officer directly owned 466,223 shares of the company’s stock, valued at $117,035,959.69. This represents a 1.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $260.22, for a total transaction of $520,440.00. Following the completion of the transaction, the director owned 62,773 shares in the company, valued at $16,334,790.06. This represents a 3.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 21,073 shares of company stock worth $5,405,198 in the last three months. Corporate insiders own 0.65% of the company’s stock.

ResMed Price Performance

ResMed stock opened at $220.23 on Monday. The company has a current ratio of 3.06, a quick ratio of 2.32 and a debt-to-equity ratio of 0.06. The company has a fifty day simple moving average of $249.75 and a 200-day simple moving average of $254.87. The stock has a market cap of $32.08 billion, a P/E ratio of 21.78, a price-to-earnings-growth ratio of 1.46 and a beta of 0.88. ResMed Inc. has a 12-month low of $199.92 and a 12-month high of $293.81.

ResMed (NYSE:RMD) last posted its earnings results on Friday, January 30th. The medical equipment provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.68 by $0.13. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. ResMed had a return on equity of 25.20% and a net margin of 27.53%.ResMed’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.43 earnings per share. Equities analysts expect that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Thursday, February 12th were issued a $0.60 dividend. The ex-dividend date was Thursday, February 12th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.1%. ResMed’s dividend payout ratio is presently 23.74%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on RMD. Stifel Nicolaus lifted their target price on ResMed from $260.00 to $265.00 and gave the company a “hold” rating in a report on Friday, January 30th. Wells Fargo & Company upped their price target on ResMed from $265.00 to $270.00 and gave the stock an “equal weight” rating in a report on Friday, January 30th. KeyCorp reaffirmed an “overweight” rating and issued a $302.00 price target on shares of ResMed in a research report on Friday, January 30th. Royal Bank Of Canada lifted their price objective on ResMed from $311.00 to $314.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. Finally, Robert W. Baird set a $281.00 price objective on ResMed in a research report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $299.27.

About ResMed

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.