Hsbc Holdings PLC Has $70.31 Million Position in ResMed Inc. $RMD

Hsbc Holdings PLC cut its holdings in ResMed Inc. (NYSE:RMD) by 4.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 313,511 shares of the medical equipment provider’s stock after selling 15,274 shares during the quarter. Hsbc Holdings PLC’s holdings in ResMed were worth $70,307,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Imprint Wealth LLC acquired a new position in shares of ResMed in the 3rd quarter valued at $26,000. WFA of San Diego LLC acquired a new stake in shares of ResMed during the second quarter worth $26,000. International Assets Investment Management LLC acquired a new stake in shares of ResMed during the fourth quarter worth $25,000. ORG Partners LLC increased its holdings in ResMed by 181.6% in the fourth quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 69 shares during the last quarter. Finally, Sunbelt Securities Inc. bought a new stake in ResMed in the third quarter valued at about $31,000. Institutional investors own 54.98% of the company’s stock.

ResMed Stock Performance

Shares of ResMed stock opened at $198.86 on Monday. The stock’s fifty day simple moving average is $199.40 and its 200 day simple moving average is $226.52. The company has a current ratio of 3.01, a quick ratio of 2.33 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $28.85 billion, a PE ratio of 19.18, a PEG ratio of 1.19 and a beta of 0.78. ResMed Inc. has a 12 month low of $180.26 and a 12 month high of $293.81.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.07. ResMed had a return on equity of 25.35% and a net margin of 27.44%.The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the previous year, the firm earned $2.37 earnings per share. The company’s revenue was up 10.8% on a year-over-year basis. On average, research analysts predict that ResMed Inc. will post 11.13 EPS for the current year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Thursday, May 14th. ResMed’s payout ratio is 23.14%.

Insider Activity

In related news, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $218.55, for a total value of $1,090,783.05. Following the completion of the transaction, the chief executive officer directly owned 466,223 shares in the company, valued at approximately $101,893,036.65. The trade was a 1.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 14,973 shares of company stock valued at $3,096,067. 0.65% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Weiss Ratings cut ResMed from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 22nd. Robert W. Baird set a $225.00 price target on ResMed in a research note on Friday, May 1st. Morgan Stanley reiterated an “equal weight” rating and issued a $230.00 price target (down from $286.00) on shares of ResMed in a research report on Wednesday, June 17th. The Goldman Sachs Group reissued a “buy” rating on shares of ResMed in a research note on Wednesday, July 1st. Finally, Wells Fargo & Company decreased their price objective on shares of ResMed from $227.00 to $225.00 and set an “equal weight” rating for the company in a report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, ResMed presently has a consensus rating of “Moderate Buy” and a consensus price target of $250.00.

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.