GTS Securities LLC Has $2.05 Million Holdings in ResMed Inc. $RMD

GTS Securities LLC lifted its stake in shares of ResMed Inc. (NYSE:RMDFree Report) by 659.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,514 shares of the medical equipment provider’s stock after acquiring an additional 9,129 shares during the period. GTS Securities LLC’s holdings in ResMed were worth $2,049,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. American Capital Management Inc. bought a new position in ResMed in the second quarter valued at approximately $44,522,000. Hsbc Holdings PLC boosted its holdings in shares of ResMed by 17.6% in the 4th quarter. Hsbc Holdings PLC now owns 328,785 shares of the medical equipment provider’s stock valued at $79,321,000 after buying an additional 49,253 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of ResMed in the 2nd quarter valued at approximately $2,400,375,000. Goldman Sachs Group Inc. grew its stake in shares of ResMed by 13.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 979,087 shares of the medical equipment provider’s stock valued at $235,833,000 after buying an additional 118,296 shares in the last quarter. Finally, Polymer Capital Management HK LTD bought a new position in shares of ResMed in the second quarter valued at $972,000. 54.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

RMD has been the topic of several analyst reports. Weiss Ratings raised shares of ResMed from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Mizuho decreased their price objective on shares of ResMed from $235.00 to $220.00 and set an “outperform” rating for the company in a research report on Wednesday, July 15th. Robert W. Baird set a $213.00 price objective on shares of ResMed in a research note on Friday, August 7th. Citigroup reaffirmed a “neutral” rating and issued a $235.00 target price (down from $270.00) on shares of ResMed in a report on Sunday, July 12th. Finally, KeyCorp cut their target price on shares of ResMed from $260.00 to $255.00 and set an “overweight” rating for the company in a research note on Friday, August 7th. Seven equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $239.38.

View Our Latest Analysis on ResMed

ResMed Stock Up 2.0%

RMD opened at $240.47 on Friday. ResMed Inc. has a 1-year low of $180.26 and a 1-year high of $284.87. The stock’s fifty day simple moving average is $211.81 and its 200 day simple moving average is $219.18. The company has a current ratio of 3.10, a quick ratio of 2.42 and a debt-to-equity ratio of 0.06. The stock has a market cap of $34.69 billion, a PE ratio of 23.06, a price-to-earnings-growth ratio of 1.51 and a beta of 0.76.

ResMed (NYSE:RMDGet Free Report) last announced its quarterly earnings results on Thursday, August 6th. The medical equipment provider reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.06. ResMed had a return on equity of 25.58% and a net margin of 26.94%.The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the firm posted $2.55 EPS. The company’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, research analysts expect that ResMed Inc. will post 12.03 earnings per share for the current year.

ResMed Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, August 20th will be paid a dividend of $0.66 per share. The ex-dividend date is Thursday, August 20th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.1%. This is a boost from ResMed’s previous quarterly dividend of $0.60. ResMed’s dividend payout ratio is 25.31%.

Insider Transactions at ResMed

In other ResMed news, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $205.69, for a total value of $1,026,598.79. Following the transaction, the chief executive officer directly owned 466,256 shares of the company’s stock, valued at $95,904,196.64. This represents a 1.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $225.00, for a total transaction of $1,800,000.00. Following the sale, the director owned 52,773 shares of the company’s stock, valued at $11,873,925. This trade represents a 13.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 22,973 shares of company stock valued at $4,885,436. 0.65% of the stock is currently owned by corporate insiders.

ResMed Company Profile

(Free Report)

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.

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Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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