Resona Asset Management Co. Ltd. Buys New Position in ResMed Inc. (NYSE:RMD)

Resona Asset Management Co. Ltd. acquired a new position in ResMed Inc. (NYSE:RMD) during the fourth quarter, Holdings Channel reports. The firm acquired 43,150 shares of the medical equipment provider’s stock, valued at approximately $9,895,000.

Several other institutional investors also recently modified their holdings of RMD. Janus Henderson Group PLC grew its holdings in shares of ResMed by 1.9% during the third quarter. Janus Henderson Group PLC now owns 16,160 shares of the medical equipment provider’s stock valued at $3,943,000 after buying an additional 296 shares in the last quarter. Quarry LP increased its stake in ResMed by 26.6% during the third quarter. Quarry LP now owns 419 shares of the medical equipment provider’s stock valued at $102,000 after acquiring an additional 88 shares during the period. Stifel Financial Corp raised its holdings in ResMed by 8.7% in the 3rd quarter. Stifel Financial Corp now owns 57,359 shares of the medical equipment provider’s stock valued at $14,004,000 after acquiring an additional 4,611 shares in the last quarter. Weiss Asset Management LP bought a new stake in shares of ResMed in the 3rd quarter worth approximately $475,000. Finally, Wellington Management Group LLP grew its holdings in shares of ResMed by 35.7% during the 3rd quarter. Wellington Management Group LLP now owns 59,926 shares of the medical equipment provider’s stock worth $14,629,000 after purchasing an additional 15,772 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

ResMed Price Performance

RMD opened at $204.72 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The stock has a market capitalization of $30.07 billion, a P/E ratio of 24.17, a price-to-earnings-growth ratio of 1.53 and a beta of 0.75. The company’s 50 day simple moving average is $230.74 and its 200-day simple moving average is $236.94. ResMed Inc. has a one year low of $172.19 and a one year high of $263.05.

ResMed (NYSE:RMD) last released its earnings results 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 return on equity of 26.17% and a net margin of 25.34%. Sell-side analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 13th were paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend was Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is 25.03%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. UBS Group raised ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. raised their price target on shares of ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. KeyCorp upped their price objective on ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Citigroup upgraded ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 5th. Finally, StockNews.com cut ResMed from a “buy” rating to a “hold” rating in a research report on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $249.73.

Insider Activity at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total transaction of $484,220.00. Following the sale, the director now owns 77,218 shares of the company’s stock, valued at approximately $18,695,249.98. This trade represents a 2.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $236.77, for a total value of $1,896,290.93. Following the sale, the chief executive officer now directly owns 455,472 shares in the company, valued at approximately $107,842,105.44. This represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,004 shares of company stock worth $9,618,128 over the last ninety days. Company insiders own 0.71% of the company’s stock.

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.