Mizuho Securities USA LLC Raises Holdings in ResMed Inc. (NYSE:RMD)

Mizuho Securities USA LLC lifted its holdings in shares of ResMed Inc. (NYSE:RMD) by 46.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,913 shares of the medical equipment provider’s stock after buying an additional 4,385 shares during the period. Mizuho Securities USA LLC’s holdings in ResMed were worth $3,182,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. State Street Corp grew its holdings in shares of ResMed by 1.9% in the 3rd quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider’s stock worth $1,528,590,000 after acquiring an additional 116,918 shares during the period. Geode Capital Management LLC grew its holdings in shares of ResMed by 10.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock worth $939,114,000 after acquiring an additional 380,383 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of ResMed by 3.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 957,020 shares of the medical equipment provider’s stock worth $218,861,000 after acquiring an additional 32,973 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of ResMed by 0.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 742,411 shares of the medical equipment provider’s stock worth $181,237,000 after acquiring an additional 2,406 shares during the period. Finally, Los Angeles Capital Management LLC grew its holdings in shares of ResMed by 60.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 668,908 shares of the medical equipment provider’s stock worth $152,973,000 after acquiring an additional 250,746 shares during the period. 54.98% of the stock is owned by hedge funds and other institutional investors.

ResMed Trading Down 0.6 %

Shares of ResMed stock opened at $219.77 on Monday. ResMed Inc. has a fifty-two week low of $172.19 and a fifty-two week high of $263.05. The firm has a market cap of $32.28 billion, a PE ratio of 25.95, a P/E/G ratio of 1.53 and a beta of 0.74. The business’s fifty day moving average is $234.91 and its two-hundred day moving average is $238.98. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. Analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 13th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.96%. The ex-dividend date was Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is currently 25.03%.

Insider Buying and Selling

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $236.77, for a total value of $1,896,290.93. Following the transaction, the chief executive officer now directly owns 455,472 shares of the company’s stock, valued at $107,842,105.44. This trade represents a 1.73 % decrease in their ownership of the stock. The transaction 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 firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $227.71, for a total value of $455,420.00. Following the completion of the transaction, the director now directly owns 75,218 shares in the company, valued at $17,127,890.78. This trade represents a 2.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,940 shares of company stock valued at $9,164,385. 0.71% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Stifel Nicolaus lowered their price target on ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a report on Wednesday, March 5th. Piper Sandler upped their price target on ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. JPMorgan Chase & Co. increased their target price on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a report on Friday, January 31st. KeyCorp increased their target price on ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, UBS Group upgraded ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $246.83.

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.