QRG Capital Management Inc. Increases Holdings in ResMed Inc. (NYSE:RMD)

QRG Capital Management Inc. lifted its position in ResMed Inc. (NYSE:RMD) by 426.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 6,797 shares of the medical equipment provider’s stock after acquiring an additional 5,506 shares during the quarter. QRG Capital Management Inc.’s holdings in ResMed were worth $1,659,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of ResMed by 24.9% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,083 shares of the medical equipment provider’s stock worth $35,068,000 after purchasing an additional 35,273 shares during the last quarter. State Board of Administration of Florida Retirement System increased its holdings in shares of ResMed by 8.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 171,632 shares of the medical equipment provider’s stock worth $37,586,000 after purchasing an additional 13,894 shares during the last quarter. SG Americas Securities LLC raised its position in ResMed by 211.1% during the first quarter. SG Americas Securities LLC now owns 19,625 shares of the medical equipment provider’s stock valued at $3,886,000 after purchasing an additional 13,316 shares during the period. iA Global Asset Management Inc. purchased a new stake in ResMed during the first quarter valued at approximately $3,055,000. Finally, Versor Investments LP raised its position in ResMed by 327.3% during the second quarter. Versor Investments LP now owns 4,700 shares of the medical equipment provider’s stock valued at $900,000 after purchasing an additional 3,600 shares during the period. 54.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RMD. KeyCorp upped their price objective on ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Baird R W upgraded ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. Wolfe Research reiterated an “underperform” rating and issued a $180.00 price target on shares of ResMed in a report on Wednesday, September 18th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $225.70.

Insider Buying and Selling at ResMed

In related news, insider Kaushik Ghoshal sold 5,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $252.56, for a total value of $1,262,800.00. Following the transaction, the insider now directly owns 21,788 shares in the company, valued at approximately $5,502,777.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, General Counsel Michael J. Rider sold 882 shares of ResMed stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $231.00, for a total value of $203,742.00. Following the completion of the sale, the general counsel now owns 10,512 shares of the company’s stock, valued at approximately $2,428,272. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Kaushik Ghoshal sold 5,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $252.56, for a total value of $1,262,800.00. Following the transaction, the insider now directly owns 21,788 shares of the company’s stock, valued at $5,502,777.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 60,260 shares of company stock worth $14,390,487 over the last ninety days. Insiders own 0.71% of the company’s stock.

ResMed Stock Up 1.4 %

Shares of RMD opened at $248.42 on Friday. The firm has a market cap of $36.47 billion, a PE ratio of 32.92, a price-to-earnings-growth ratio of 1.78 and a beta of 0.69. The company’s fifty day moving average is $243.12 and its two-hundred day moving average is $221.39. ResMed Inc. has a fifty-two week low of $140.81 and a fifty-two week high of $260.49. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the business posted $1.64 EPS. ResMed’s revenue was up 11.1% on a year-over-year basis. Analysts forecast that ResMed Inc. will post 9.22 earnings per share for the current year.

ResMed Dividend Announcement

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

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.