MUFG Securities EMEA plc Acquires 3,182 Shares of ResMed Inc. $RMD

MUFG Securities EMEA plc boosted its holdings in shares of ResMed Inc. (NYSE:RMD) by 113.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,984 shares of the medical equipment provider’s stock after buying an additional 3,182 shares during the period. MUFG Securities EMEA plc’s holdings in ResMed were worth $1,441,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in RMD. Jones Financial Companies Lllp raised its position in ResMed by 52.6% during the first quarter. Jones Financial Companies Lllp now owns 2,882 shares of the medical equipment provider’s stock valued at $645,000 after purchasing an additional 994 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in ResMed during the second quarter valued at about $389,000. Brown Advisory Inc. raised its position in ResMed by 17.8% during the second quarter. Brown Advisory Inc. now owns 1,586 shares of the medical equipment provider’s stock valued at $409,000 after purchasing an additional 240 shares in the last quarter. Cresset Asset Management LLC purchased a new stake in ResMed during the second quarter valued at about $206,000. Finally, Alliancebernstein L.P. raised its position in ResMed by 24.2% during the second quarter. Alliancebernstein L.P. now owns 286,078 shares of the medical equipment provider’s stock valued at $73,808,000 after purchasing an additional 55,790 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Stock Down 1.8%

RMD opened at $183.01 on Wednesday. The company has a market cap of $26.55 billion, a P/E ratio of 17.65, a P/E/G ratio of 1.19 and a beta of 0.80. The business’s 50-day moving average price is $216.11 and its 200-day moving average price is $238.80. The company has a current ratio of 3.01, a quick ratio of 2.33 and a debt-to-equity ratio of 0.06. ResMed Inc. has a 12 month low of $180.26 and a 12 month high of $293.81.

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

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th will be issued a $0.60 dividend. The ex-dividend date is Thursday, May 14th. This represents a $2.40 annualized dividend and a dividend yield of 1.3%. ResMed’s payout ratio is currently 23.14%.

Wall Street Analyst Weigh In

RMD has been the topic of a number of research reports. Wall Street Zen downgraded ResMed from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. JPMorgan Chase & Co. initiated coverage on ResMed in a research report on Wednesday, April 15th. They set an “overweight” rating on the stock. Evercore set a $255.00 price target on ResMed and gave the company an “outperform” rating in a research report on Monday, April 13th. Citigroup lowered their price target on ResMed from $345.00 to $340.00 and set a “buy” rating on the stock in a research report on Thursday, April 9th. Finally, Weiss Ratings downgraded ResMed from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, ResMed currently has a consensus rating of “Moderate Buy” and an average price target of $286.18.

Insider Activity

In other news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $225.00, for a total value of $450,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $251.03, for a total value of $1,252,890.73. Following the transaction, the chief executive officer owned 466,223 shares in the company, valued at approximately $117,035,959.69. This represents a 1.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 16,973 shares of company stock worth $3,865,591. Company insiders own 0.65% of the company’s stock.

ResMed Company Profile

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.