SG Americas Securities LLC Has $1.07 Million Position in ResMed Inc. (NYSE:RMD)

SG Americas Securities LLC lessened its stake in ResMed Inc. (NYSE:RMDFree Report) by 75.0% during the first quarter, HoldingsChannel reports. The institutional investor owned 4,767 shares of the medical equipment provider’s stock after selling 14,333 shares during the period. SG Americas Securities LLC’s holdings in ResMed were worth $1,067,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. GAMMA Investing LLC raised its holdings in ResMed by 7.6% during the 1st quarter. GAMMA Investing LLC now owns 3,277 shares of the medical equipment provider’s stock worth $734,000 after purchasing an additional 231 shares during the last quarter. Yousif Capital Management LLC raised its stake in ResMed by 0.5% during the first quarter. Yousif Capital Management LLC now owns 22,482 shares of the medical equipment provider’s stock worth $5,033,000 after buying an additional 101 shares during the last quarter. Pallas Capital Advisors LLC raised its stake in ResMed by 11.9% during the first quarter. Pallas Capital Advisors LLC now owns 3,098 shares of the medical equipment provider’s stock worth $693,000 after buying an additional 330 shares during the last quarter. Portside Wealth Group LLC lifted its holdings in ResMed by 3.8% in the first quarter. Portside Wealth Group LLC now owns 1,457 shares of the medical equipment provider’s stock valued at $326,000 after buying an additional 54 shares during the period. Finally, Procyon Advisors LLC bought a new stake in ResMed during the first quarter valued at $207,000. 54.98% of the stock is currently owned by institutional investors.

Insider Activity at ResMed

In other news, CEO Michael J. Farrell sold 8,009 shares of the company’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $243.23, for a total value of $1,948,029.07. Following the completion of the sale, the chief executive officer now owns 455,503 shares in the company, valued at $110,791,994.69. This represents a 1.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $219.74, for a total transaction of $439,480.00. Following the transaction, the director now directly owns 73,218 shares in the company, valued at $16,088,923.32. The trade was a 2.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,132 shares of company stock valued at $7,075,837. 0.71% of the stock is owned by corporate insiders.

ResMed Price Performance

Shares of RMD opened at $250.14 on Wednesday. The business’s fifty day moving average is $238.42 and its 200 day moving average is $234.76. ResMed Inc. has a 12-month low of $179.42 and a 12-month high of $263.05. The company has a quick ratio of 2.49, a current ratio of 3.41 and a debt-to-equity ratio of 0.12. The stock has a market cap of $36.68 billion, a P/E ratio of 28.07, a P/E/G ratio of 1.73 and a beta of 0.78.

ResMed (NYSE:RMDGet Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.01. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. ResMed had a net margin of 26.15% and a return on equity of 25.67%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period last year, the firm earned $2.13 earnings per share. Sell-side analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 8th were given a $0.53 dividend. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $2.12 annualized dividend and a yield of 0.85%. ResMed’s payout ratio is 23.79%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RMD. Mizuho set a $265.00 price objective on ResMed in a research report on Wednesday, April 16th. Royal Bank Of Canada lifted their target price on ResMed from $247.00 to $255.00 and gave the stock a “sector perform” rating in a report on Thursday, April 24th. Wall Street Zen cut ResMed from a “buy” rating to a “hold” rating in a report on Saturday, May 24th. Morgan Stanley set a $286.00 price objective on shares of ResMed and gave the stock an “overweight” rating in a research report on Tuesday, May 20th. Finally, Stifel Nicolaus lowered their price objective on shares of ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $259.33.

Check Out Our Latest Analysis on RMD

ResMed Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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