Hsbc Holdings PLC Has $44.57 Million Position in ResMed Inc. (NYSE:RMD)

Hsbc Holdings PLC cut its stake in ResMed Inc. (NYSE:RMD) by 13.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 232,532 shares of the medical equipment provider’s stock after selling 37,391 shares during the quarter. Hsbc Holdings PLC owned 0.16% of ResMed worth $44,565,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. OFI Invest Asset Management bought a new stake in ResMed in the second quarter valued at approximately $32,000. BOK Financial Private Wealth Inc. acquired a new position in shares of ResMed in the 1st quarter valued at $35,000. Versant Capital Management Inc increased its position in shares of ResMed by 196.7% in the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock valued at $35,000 after buying an additional 120 shares in the last quarter. Financial Connections Group Inc. acquired a new stake in ResMed during the 2nd quarter worth $37,000. Finally, Riverview Trust Co bought a new position in ResMed during the first quarter worth about $42,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. StockNews.com downgraded ResMed from a “buy” rating to a “hold” rating in a report on Friday, August 30th. Needham & Company LLC restated a “hold” rating on shares of ResMed in a report on Wednesday. Wolfe Research reiterated an “underperform” rating and issued a $180.00 price target on shares of ResMed in a report on Wednesday. Citigroup lowered shares of ResMed from a “buy” rating to a “neutral” rating in a report on Monday, June 24th. Finally, Royal Bank of Canada upped their target price on shares of ResMed from $204.00 to $206.00 and gave the stock a “sector perform” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $199.70.

Insider Activity

In related news, insider Justin Leong sold 48,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $217.07, for a total transaction of $10,419,360.00. Following the transaction, the insider now directly owns 18,741 shares in the company, valued at $4,068,108.87. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CFO Brett Sandercock sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $194.35, for a total transaction of $194,350.00. Following the transaction, the chief financial officer now directly owns 90,056 shares of the company’s stock, valued at approximately $17,502,383.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Justin Leong sold 48,000 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $217.07, for a total value of $10,419,360.00. Following the sale, the insider now directly owns 18,741 shares of the company’s stock, valued at approximately $4,068,108.87. The disclosure for this sale can be found here. In the last 90 days, insiders sold 102,931 shares of company stock valued at $22,644,807. 1.21% of the stock is owned by insiders.

ResMed Stock Up 0.8 %

Shares of RMD stock opened at $244.90 on Friday. The firm’s fifty day moving average price is $226.91 and its two-hundred day moving average price is $209.22. The company has a current ratio of 2.59, a quick ratio of 1.69 and a debt-to-equity ratio of 0.14. ResMed Inc. has a 1 year low of $132.24 and a 1 year high of $255.18. The firm has a market capitalization of $35.98 billion, a P/E ratio of 37.62, a PEG ratio of 2.50 and a beta of 0.69.

ResMed (NYSE:RMD) last released its earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.05. ResMed had a return on equity of 25.00% and a net margin of 21.79%. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the previous year, the business earned $1.60 earnings per share. ResMed’s quarterly revenue was up 6.9% on a year-over-year basis. On average, equities analysts predict that ResMed Inc. will post 8.92 EPS for the current fiscal year.

ResMed Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.53 per share. The ex-dividend date was Thursday, August 15th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.87%. This is a boost from ResMed’s previous quarterly dividend of $0.48. ResMed’s dividend payout ratio is currently 32.57%.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.