ResMed Inc. (NYSE:RMD) Shares Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of ResMed Inc. (NYSE:RMD) by 1.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,821 shares of the medical equipment provider’s stock after purchasing an additional 273 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in ResMed were worth $3,618,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Peak Financial Advisors LLC acquired a new position in shares of ResMed in the 4th quarter valued at about $2,972,000. Principal Financial Group Inc. lifted its holdings in ResMed by 2.9% in the third quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider’s stock valued at $45,596,000 after acquiring an additional 5,284 shares during the period. Retireful LLC purchased a new stake in ResMed in the 3rd quarter worth approximately $742,000. Spire Wealth Management boosted its position in ResMed by 11.3% in the 4th quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider’s stock worth $2,470,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Asset Management One Co. Ltd. grew its stake in shares of ResMed by 5.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 58,860 shares of the medical equipment provider’s stock worth $14,369,000 after purchasing an additional 2,878 shares during the period. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ResMed

In other news, insider Justin Leong sold 6,160 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the transaction, the insider now owns 21,718 shares of the company’s stock, valued at approximately $5,279,428.62. The trade was a 22.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Witte Jan De sold 796 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total transaction of $198,052.76. Following the sale, the director now owns 6,723 shares of the company’s stock, valued at approximately $1,672,749.63. The trade was a 10.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,094 shares of company stock valued at $2,704,941. 0.71% of the stock is currently owned by insiders.

ResMed Trading Down 0.1 %

Shares of RMD stock opened at $236.84 on Monday. ResMed Inc. has a fifty-two week low of $170.56 and a fifty-two week high of $263.05. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. The stock’s fifty day moving average is $239.18 and its two-hundred day moving average is $237.59. The firm has a market capitalization of $34.78 billion, a P/E ratio of 27.96, a PEG ratio of 1.57 and a beta of 0.70.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. Research analysts expect that ResMed Inc. will post 9.44 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be given a $0.53 dividend. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.90%. ResMed’s dividend payout ratio (DPR) is presently 25.03%.

Analyst Upgrades and Downgrades

RMD has been the topic of a number of recent analyst reports. UBS Group raised shares of ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Robert W. Baird increased their target price on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. The Goldman Sachs Group began coverage on ResMed in a research note on Thursday, January 16th. They issued a “buy” rating for the company. Stifel Nicolaus started coverage on ResMed in a research report on Friday, December 13th. They set a “hold” rating and a $250.00 price target on the stock. Finally, Royal Bank of Canada boosted their price objective on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $244.73.

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.