Sumitomo Mitsui DS Asset Management Company Ltd Buys 313 Shares of ResMed Inc. (NYSE:RMD)

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of ResMed Inc. (NYSE:RMD) by 2.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,548 shares of the medical equipment provider’s stock after acquiring an additional 313 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in ResMed were worth $3,796,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of ResMed by 24.9% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,083 shares of the medical equipment provider’s stock worth $35,068,000 after purchasing an additional 35,273 shares during the last quarter. Mediolanum International Funds Ltd bought a new position in shares of ResMed during the 1st quarter worth approximately $2,246,000. Janney Montgomery Scott LLC increased its holdings in shares of ResMed by 5.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 81,313 shares of the medical equipment provider’s stock worth $16,102,000 after acquiring an additional 4,075 shares during the last quarter. Wellington Management Group LLP bought a new stake in ResMed in the 4th quarter valued at $7,535,000. Finally, State Board of Administration of Florida Retirement System raised its stake in ResMed by 8.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 171,632 shares of the medical equipment provider’s stock valued at $37,586,000 after acquiring an additional 13,894 shares during the period. 54.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Wolfe Research reiterated an “underperform” rating and issued a $180.00 price objective on shares of ResMed in a report on Wednesday, September 18th. Royal Bank of Canada increased their price target on shares of ResMed from $206.00 to $224.00 and gave the company a “sector perform” rating in a report on Tuesday, October 1st. Oppenheimer downgraded shares of ResMed from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. Citigroup downgraded ResMed from a “buy” rating to a “neutral” rating in a research report on Monday, June 24th. Finally, StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $218.18.

ResMed Price Performance

Shares of NYSE RMD opened at $240.00 on Monday. The business has a fifty day moving average price of $238.78 and a two-hundred day moving average price of $216.31. The stock has a market capitalization of $35.26 billion, a PE ratio of 36.87, a P/E/G ratio of 2.17 and a beta of 0.69. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.59 and a quick ratio of 1.69. ResMed Inc. has a fifty-two week low of $132.24 and a fifty-two week high of $255.18.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.05. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the prior year, the business posted $1.60 earnings per share. ResMed’s revenue was up 6.9% compared to the same quarter last year. As a group, equities analysts predict that ResMed Inc. will post 9.02 earnings per share for the current fiscal year.

ResMed Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, August 15th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.88%. This is a boost from ResMed’s previous quarterly dividend of $0.48. The ex-dividend date was Thursday, August 15th. ResMed’s dividend payout ratio (DPR) is 32.57%.

Insider Buying and Selling at ResMed

In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $214.25, for a total value of $3,145,832.75. Following the sale, the chief executive officer now owns 440,799 shares of the company’s stock, valued at approximately $94,441,185.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $214.25, for a total value of $3,145,832.75. Following the completion of the transaction, the chief executive officer now owns 440,799 shares of the company’s stock, valued at approximately $94,441,185.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brett Sandercock sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $212.16, for a total transaction of $212,160.00. Following the completion of the sale, the chief financial officer now owns 89,056 shares in the company, valued at approximately $18,894,120.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 123,874 shares of company stock worth $28,151,142 over the last three months. Corporate insiders own 1.21% of the company’s stock.

ResMed Company 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.