ResMed Inc. (NYSE:RMD) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC trimmed its holdings in ResMed Inc. (NYSE:RMD - Free Report) by 75.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,767 shares of the medical equipment provider's stock after selling 14,333 shares during the quarter. SG Americas Securities LLC's holdings in ResMed were worth $1,067,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of RMD. Howard Capital Management Inc. raised its position in ResMed by 5.3% during the 4th quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider's stock valued at $206,000 after purchasing an additional 45 shares in the last quarter. Central Pacific Bank Trust Division raised its holdings in shares of ResMed by 9.7% in the first quarter. Central Pacific Bank Trust Division now owns 565 shares of the medical equipment provider's stock valued at $126,000 after acquiring an additional 50 shares in the last quarter. Faithward Advisors LLC raised its holdings in shares of ResMed by 4.3% in the fourth quarter. Faithward Advisors LLC now owns 1,279 shares of the medical equipment provider's stock valued at $292,000 after acquiring an additional 53 shares in the last quarter. Portside Wealth Group LLC lifted its stake in ResMed by 3.8% in the first quarter. Portside Wealth Group LLC now owns 1,457 shares of the medical equipment provider's stock worth $326,000 after acquiring an additional 54 shares during the period. Finally, Meiji Yasuda Life Insurance Co grew its holdings in ResMed by 4.6% during the 4th quarter. Meiji Yasuda Life Insurance Co now owns 1,356 shares of the medical equipment provider's stock worth $310,000 after acquiring an additional 60 shares in the last quarter. 54.98% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $219.74, for a total transaction of $439,480.00. Following the transaction, the director now owns 73,218 shares in the company, valued at $16,088,923.32. The trade was a 2.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of the company's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $209.85, for a total transaction of $1,680,688.65. Following the completion of the sale, the chief executive officer now directly owns 455,472 shares of the company's stock, valued at $95,580,799.20. This represents a 1.73% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 30,132 shares of company stock worth $7,075,837. Corporate insiders own 0.71% of the company's stock.

ResMed Stock Performance

Shares of NYSE:RMD traded up $0.78 during trading on Wednesday, hitting $250.87. The stock had a trading volume of 635,899 shares, compared to its average volume of 999,691. The stock has a market capitalization of $36.79 billion, a price-to-earnings ratio of 28.16, a price-to-earnings-growth ratio of 1.73 and a beta of 0.78. ResMed Inc. has a 12-month low of $179.42 and a 12-month high of $263.05. The stock has a 50-day simple moving average of $238.42 and a two-hundred day simple moving average of $234.76. The company has a quick ratio of 2.49, a current ratio of 3.41 and a debt-to-equity ratio of 0.12.

ResMed (NYSE:RMD - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share for the quarter, beating analysts' consensus estimates of $2.36 by $0.01. The company had revenue of $1.29 billion during the quarter, compared to analysts' expectations of $1.28 billion. ResMed had a net margin of 26.15% and a return on equity of 25.67%. The firm's revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.13 earnings per share. On average, equities research analysts expect that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 8th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend was Thursday, May 8th. ResMed's payout ratio is 23.79%.

Wall Street Analyst Weigh In

RMD has been the topic of several research reports. JPMorgan Chase & Co. lifted their price objective on shares of ResMed from $286.00 to $290.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Piper Sandler lowered their price target on shares of ResMed from $260.00 to $248.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. UBS Group reduced their price objective on shares of ResMed from $290.00 to $285.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Wall Street Zen cut shares of ResMed from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Finally, Royal Bank Of Canada lifted their price target on shares of ResMed from $247.00 to $255.00 and gave the stock a "sector perform" rating in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $259.33.

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.