Daiwa Securities Group Inc. Has $5.74 Million Position in ResMed Inc. (NYSE:RMD)

Daiwa Securities Group Inc. lifted its stake in shares of ResMed Inc. (NYSE:RMD) by 5.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 25,119 shares of the medical equipment provider’s stock after buying an additional 1,320 shares during the quarter. Daiwa Securities Group Inc.’s holdings in ResMed were worth $5,744,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in ResMed by 6.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 66,476 shares of the medical equipment provider’s stock valued at $15,202,000 after acquiring an additional 3,980 shares during the period. Simplicity Wealth LLC increased its stake in shares of ResMed by 31.7% during the fourth quarter. Simplicity Wealth LLC now owns 1,913 shares of the medical equipment provider’s stock worth $437,000 after purchasing an additional 461 shares during the period. AlphaQuest LLC lifted its holdings in ResMed by 58.2% during the 4th quarter. AlphaQuest LLC now owns 2,962 shares of the medical equipment provider’s stock worth $677,000 after purchasing an additional 1,090 shares during the last quarter. OFI Invest Asset Management bought a new stake in ResMed in the 4th quarter valued at $39,000. Finally, Personal CFO Solutions LLC acquired a new position in ResMed in the 4th quarter valued at $295,000. Institutional investors own 54.98% of the company’s stock.

ResMed Stock Down 2.5 %

Shares of NYSE RMD opened at $220.09 on Thursday. The stock has a 50-day moving average price of $236.63 and a two-hundred day moving average price of $239.99. ResMed Inc. has a 12 month low of $172.19 and a 12 month high of $263.05. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The company has a market cap of $32.32 billion, a price-to-earnings ratio of 25.98, a PEG ratio of 1.53 and a beta of 0.74.

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

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s payout ratio is 25.03%.

Wall Street Analysts Forecast Growth

RMD has been the subject of a number of recent research reports. Piper Sandler boosted their target price on shares of ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Citigroup raised shares of ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday, March 5th. The Goldman Sachs Group assumed coverage on shares of ResMed in a report on Thursday, January 16th. They set a “buy” rating on the stock. Stifel Nicolaus cut their price target on ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. lifted their price objective on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, ResMed presently has an average rating of “Moderate Buy” and an average target price of $243.82.

Insider Transactions at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $227.71, for a total transaction of $455,420.00. Following the completion of the sale, the director now directly owns 75,218 shares of the company’s stock, valued at approximately $17,127,890.78. The trade was a 2.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kaushik Ghoshal sold 9,745 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $239.31, for a total value of $2,332,075.95. Following the completion of the transaction, the insider now owns 9,725 shares in the company, valued at $2,327,289.75. This represents a 50.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,940 shares of company stock valued at $9,164,385 over the last ninety days. 0.71% of the stock is owned by company insiders.

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.