ResMed Inc. $RMD Holdings Raised by QRG Capital Management Inc.

QRG Capital Management Inc. lifted its position in shares of ResMed Inc. (NYSE:RMD) by 22.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 80,693 shares of the medical equipment provider’s stock after acquiring an additional 14,968 shares during the period. QRG Capital Management Inc. owned about 0.06% of ResMed worth $20,819,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Ameritas Advisory Services LLC acquired a new stake in shares of ResMed during the second quarter worth $83,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of ResMed by 4.3% in the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 24,705 shares of the medical equipment provider’s stock valued at $6,374,000 after buying an additional 1,025 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of ResMed by 9.3% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,855 shares of the medical equipment provider’s stock valued at $4,349,000 after buying an additional 1,440 shares during the last quarter. ASR Vermogensbeheer N.V. raised its stake in ResMed by 4.4% during the second quarter. ASR Vermogensbeheer N.V. now owns 12,796 shares of the medical equipment provider’s stock worth $3,301,000 after acquiring an additional 542 shares during the period. Finally, Consolidated Planning Corp raised its stake in ResMed by 11.8% during the second quarter. Consolidated Planning Corp now owns 5,078 shares of the medical equipment provider’s stock worth $1,310,000 after acquiring an additional 534 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Transactions at ResMed

In other news, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $279.48, for a total value of $2,238,355.32. Following the completion of the transaction, the chief executive officer directly owned 455,503 shares in the company, valued at $127,303,978.44. This trade represents a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Michael J. Rider sold 100 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $274.36, for a total transaction of $27,436.00. Following the transaction, the general counsel owned 11,327 shares in the company, valued at $3,107,675.72. This represents a 0.88% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 18,743 shares of company stock valued at $5,075,239. Company insiders own 0.71% of the company’s stock.

ResMed Stock Up 0.7%

Shares of ResMed stock opened at $278.48 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.44 and a quick ratio of 2.53. ResMed Inc. has a 1-year low of $199.92 and a 1-year high of $293.81. The business’s fifty day moving average price is $278.16 and its two-hundred day moving average price is $253.68. The company has a market capitalization of $40.77 billion, a P/E ratio of 29.28, a PEG ratio of 1.87 and a beta of 0.83.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.08. ResMed had a return on equity of 25.62% and a net margin of 27.22%.The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period last year, the company earned $2.08 earnings per share. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, research analysts forecast that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, August 14th were given a dividend of $0.60 per share. This is a positive change from ResMed’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, August 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.9%. ResMed’s payout ratio is presently 25.24%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RMD. CLSA upgraded ResMed from a “hold” rating to an “outperform” rating in a research note on Tuesday, September 2nd. William Blair raised ResMed to a “strong-buy” rating in a report on Friday, August 1st. Weiss Ratings restated a “buy (b-)” rating on shares of ResMed in a research note on Saturday, September 27th. Citigroup initiated coverage on ResMed in a research report on Thursday, September 18th. They issued a “buy” rating and a $330.00 target price on the stock. Finally, Wall Street Zen cut ResMed from a “buy” rating to a “hold” rating in a research note on Sunday, August 10th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $294.20.

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.