Nomura Holdings Inc. Takes Position in ResMed Inc. (NYSE:RMD)

Nomura Holdings Inc. acquired a new stake in shares of ResMed Inc. (NYSE:RMD) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 4,841 shares of the medical equipment provider’s stock, valued at approximately $1,107,000.

Other hedge funds also recently modified their holdings of the company. Invesco Ltd. raised its position in ResMed by 32.2% in the fourth quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider’s stock valued at $531,706,000 after purchasing an additional 566,046 shares during the last quarter. Norges Bank acquired a new position in shares of ResMed in the fourth quarter valued at approximately $118,605,000. Captrust Financial Advisors raised its holdings in ResMed by 813.4% in the 4th quarter. Captrust Financial Advisors now owns 443,340 shares of the medical equipment provider’s stock valued at $101,387,000 after buying an additional 394,803 shares during the last quarter. AQR Capital Management LLC boosted its position in ResMed by 133.6% during the 4th quarter. AQR Capital Management LLC now owns 625,054 shares of the medical equipment provider’s stock worth $142,944,000 after buying an additional 357,466 shares during the period. Finally, BLI Banque de Luxembourg Investments bought a new stake in ResMed during the 4th quarter worth approximately $74,793,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Price Performance

Shares of NYSE:RMD opened at $251.75 on Monday. ResMed Inc. has a twelve month low of $179.42 and a twelve month high of $263.05. The stock’s 50 day moving average is $225.34 and its 200-day moving average is $234.11. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $36.91 billion, a price-to-earnings ratio of 29.72, a PEG ratio of 1.53 and a beta of 0.78.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, topping the consensus estimate of $2.36 by $0.01. ResMed had a return on equity of 26.17% and a net margin of 25.34%. The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the prior year, the business posted $2.13 earnings per share. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. Sell-side analysts forecast that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 8th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.84%. The ex-dividend date is Thursday, May 8th. ResMed’s dividend payout ratio (DPR) is presently 23.79%.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Mizuho set a $265.00 price objective on ResMed in a report on Wednesday, April 16th. UBS Group decreased their price target on ResMed from $290.00 to $285.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Piper Sandler lowered their price objective on ResMed from $260.00 to $248.00 and set a “neutral” rating for the company in a research report on Thursday, April 24th. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a report on Friday, January 31st. Finally, Stifel Nicolaus decreased their target price on shares of ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, ResMed has a consensus rating of “Moderate Buy” and an average target price of $258.83.

Insiders Place Their Bets

In related news, insider Kaushik Ghoshal sold 9,113 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the transaction, the insider now directly owns 9,725 shares of the company’s stock, valued at $2,289,265. This trade represents a 48.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $242.25, for a total transaction of $484,500.00. Following the completion of the sale, the director now directly owns 71,218 shares of the company’s stock, valued at $17,252,560.50. The trade was a 2.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 48,949 shares of company stock valued at $11,335,320 in the last three months. 0.71% of the stock is currently owned by 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.