ResMed Inc. (NYSE:RMD) Shares Acquired by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. raised its stake in ResMed Inc. (NYSE:RMD - Free Report) by 11.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,799 shares of the medical equipment provider's stock after purchasing an additional 2,389 shares during the period. Daiwa Securities Group Inc.'s holdings in ResMed were worth $5,810,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Ashton Thomas Securities LLC purchased a new stake in ResMed during the 3rd quarter worth about $34,000. OFI Invest Asset Management purchased a new position in ResMed in the second quarter valued at approximately $32,000. Versant Capital Management Inc raised its holdings in ResMed by 196.7% during the second quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider's stock worth $35,000 after purchasing an additional 120 shares in the last quarter. Financial Connections Group Inc. acquired a new position in shares of ResMed in the 2nd quarter valued at $37,000. Finally, Blue Trust Inc. grew its position in shares of ResMed by 182.7% in the 2nd quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider's stock valued at $42,000 after buying an additional 137 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company's stock.

ResMed Price Performance

Shares of NYSE:RMD opened at $249.99 on Wednesday. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of $241.80 and a 200 day moving average price of $225.04. ResMed Inc. has a 52 week low of $151.95 and a 52 week high of $260.49. The company has a market cap of $36.70 billion, a P/E ratio of 33.11, a PEG ratio of 1.82 and a beta of 0.69.

ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, beating analysts' consensus estimates of $2.03 by $0.17. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The company's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.64 earnings per share. Research analysts predict that ResMed Inc. will post 9.28 earnings per share for the current year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.85%. ResMed's dividend payout ratio is presently 28.08%.

Insider Buying and Selling

In other ResMed news, insider Kaushik Ghoshal sold 5,000 shares of the firm's stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $252.56, for a total transaction of $1,262,800.00. Following the completion of the transaction, the insider now directly owns 21,788 shares in the company, valued at approximately $5,502,777.28. This trade represents a 18.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael J. Farrell sold 14,683 shares of ResMed stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $248.38, for a total transaction of $3,646,963.54. Following the transaction, the chief executive officer now owns 464,169 shares of the company's stock, valued at approximately $115,290,296.22. The trade was a 3.07 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 68,334 shares of company stock valued at $16,379,713. Corporate insiders own 0.71% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Wolfe Research restated an "underperform" rating and issued a $180.00 price objective on shares of ResMed in a research note on Wednesday, September 18th. Bank of America lifted their price target on ResMed from $240.00 to $270.00 and gave the stock a "buy" rating in a research report on Thursday, September 26th. StockNews.com raised ResMed from a "hold" rating to a "buy" rating in a report on Tuesday, October 15th. Baird R W raised shares of ResMed to a "strong-buy" rating in a report on Tuesday, September 24th. Finally, Royal Bank of Canada increased their price target on shares of ResMed from $224.00 to $232.00 and gave the stock a "sector perform" rating in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $225.70.

About ResMed

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.