Daiwa Securities Group Inc. Has $4.10 Million Stock Position in ResMed Inc. (NYSE:RMD)

Daiwa Securities Group Inc. increased its holdings in shares of ResMed Inc. (NYSE:RMD) by 23.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,410 shares of the medical equipment provider’s stock after buying an additional 4,066 shares during the quarter. Daiwa Securities Group Inc.’s holdings in ResMed were worth $4,098,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Atlantic Edge Private Wealth Management LLC bought a new position in ResMed in the fourth quarter valued at approximately $27,000. OFI Invest Asset Management acquired a new stake in shares of ResMed during the second quarter worth $32,000. BOK Financial Private Wealth Inc. acquired a new stake in shares of ResMed during the first quarter worth $35,000. Versant Capital Management Inc lifted its position in ResMed by 196.7% in the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock valued at $35,000 after acquiring an additional 120 shares in the last quarter. Finally, Financial Connections Group Inc. acquired a new position in ResMed in the 2nd quarter worth $37,000. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Stock Performance

Shares of RMD opened at $250.71 on Friday. The company has a market cap of $36.83 billion, a PE ratio of 38.51, a price-to-earnings-growth ratio of 2.44 and a beta of 0.69. The firm has a 50-day moving average of $220.87 and a 200-day moving average of $206.37. ResMed Inc. has a one year low of $132.24 and a one year high of $255.18. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.59 and a quick ratio of 1.69.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.05. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.22 billion. ResMed had a return on equity of 25.00% and a net margin of 21.79%. ResMed’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the company posted $1.60 earnings per share. As a group, equities analysts forecast that ResMed Inc. will post 8.91 earnings per share for the current year.

ResMed Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Thursday, August 15th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Thursday, August 15th. This is a boost from ResMed’s previous quarterly dividend of $0.48. ResMed’s dividend payout ratio is 32.57%.

Insider Activity at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $239.90, for a total transaction of $479,800.00. Following the completion of the transaction, the director now directly owns 87,204 shares of the company’s stock, valued at $20,920,239.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Justin Leong sold 48,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $217.07, for a total value of $10,419,360.00. Following the completion of the sale, the insider now directly owns 18,741 shares in the company, valued at approximately $4,068,108.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $239.90, for a total value of $479,800.00. Following the completion of the transaction, the director now directly owns 87,204 shares in the company, valued at $20,920,239.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 97,931 shares of company stock worth $21,382,007. Company insiders own 1.21% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on RMD. StockNews.com lowered ResMed from a “buy” rating to a “hold” rating in a report on Friday, August 30th. Citigroup downgraded ResMed from a “buy” rating to a “neutral” rating in a research report on Monday, June 24th. Needham & Company LLC downgraded shares of ResMed from a “buy” rating to a “hold” rating and set a $236.00 price objective on the stock. in a report on Wednesday, September 4th. Oppenheimer cut shares of ResMed from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. Finally, KeyCorp lifted their price target on shares of ResMed from $238.00 to $251.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $204.70.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.