ResMed Inc. (NYSE:RMD) Stock Holdings Increased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of ResMed Inc. (NYSE:RMD) by 4.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 345,542 shares of the medical equipment provider’s stock after purchasing an additional 14,465 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.24% of ResMed worth $84,354,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ashton Thomas Securities LLC bought a new position in shares of ResMed in the third quarter valued at approximately $34,000. OFI Invest Asset Management bought a new position in ResMed during the 2nd quarter valued at $32,000. Versant Capital Management Inc increased its position in shares of ResMed by 196.7% during the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 120 shares during the period. Financial Connections Group Inc. acquired a new position in shares of ResMed during the 2nd quarter valued at $37,000. Finally, Blue Trust Inc. raised its stake in shares of ResMed by 182.7% in the 2nd quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock worth $42,000 after buying an additional 137 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors.

ResMed Trading Down 1.7 %

Shares of NYSE:RMD opened at $231.43 on Friday. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $33.97 billion, a PE ratio of 30.65, a P/E/G ratio of 1.81 and a beta of 0.69. ResMed Inc. has a 1 year low of $147.31 and a 1 year high of $260.49. The firm has a fifty day moving average price of $243.30 and a 200 day moving average price of $223.37.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.17. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the company posted $1.64 EPS. The firm’s revenue was up 11.1% on a year-over-year basis. Analysts expect that ResMed Inc. will post 9.22 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend is Thursday, November 7th. ResMed’s dividend payout ratio is 28.08%.

Insider Transactions at ResMed

In related news, Director Witte Jan De sold 796 shares of the business’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 completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael J. Farrell sold 14,683 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $248.38, for a total value of $3,646,963.54. Following the completion of the sale, the chief executive officer now directly owns 464,169 shares in the company, valued at $115,290,296.22. This trade represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 63,056 shares of company stock worth $15,086,020. 0.71% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Baird R W raised ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. Robert W. Baird boosted their target price on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. KeyCorp raised their target price on shares of ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Finally, Bank of America increased their price target on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $225.70.

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.