QRG Capital Management Inc. Increases Position in ResMed Inc. $RMD

QRG Capital Management Inc. boosted its position in ResMed Inc. (NYSE:RMD) by 31.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,360 shares of the medical equipment provider’s stock after acquiring an additional 5,363 shares during the quarter. QRG Capital Management Inc.’s holdings in ResMed were worth $5,386,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insiders Place Their Bets

In other news, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $273.78, for a total transaction of $1,366,435.98. Following the sale, the chief executive officer owned 466,223 shares of the company’s stock, valued at approximately $127,642,532.94. The trade was a 1.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total transaction of $450,000.00. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 18,973 shares of company stock worth $4,715,237. Insiders own 0.65% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on RMD shares. Royal Bank Of Canada lifted their target price on shares of ResMed from $314.00 to $321.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. KeyCorp lowered their target price on ResMed from $302.00 to $290.00 and set an “overweight” rating for the company in a research note on Monday, April 27th. JPMorgan Chase & Co. began coverage on ResMed in a research report on Wednesday, April 15th. They set an “overweight” rating on the stock. Stifel Nicolaus boosted their price objective on ResMed from $260.00 to $265.00 and gave the company a “hold” rating in a research report on Friday, January 30th. Finally, Robert W. Baird set a $225.00 target price on shares of ResMed in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, ResMed currently has an average rating of “Moderate Buy” and a consensus target price of $286.18.

ResMed Stock Up 1.0%

Shares of NYSE:RMD opened at $209.88 on Thursday. The stock’s 50-day moving average is $231.31 and its 200 day moving average is $245.48. The company has a market cap of $30.58 billion, a PE ratio of 20.24, a P/E/G ratio of 1.32 and a beta of 0.84. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.01 and a quick ratio of 2.33. ResMed Inc. has a 1 year low of $198.64 and a 1 year high of $293.81.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $1.42 billion. During the same period last year, the company earned $2.37 EPS. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. Sell-side analysts anticipate that ResMed Inc. will post 11.13 EPS for the current year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Investors 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 yield of 1.1%. ResMed’s payout ratio is 23.14%.

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.