Asset Management One Co. Ltd. Raises Stock Holdings in ResMed Inc. (NYSE:RMD)

Asset Management One Co. Ltd. boosted its stake in shares of ResMed Inc. (NYSE:RMD) by 2.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 60,489 shares of the medical equipment provider’s stock after acquiring an additional 1,629 shares during the quarter. Asset Management One Co. Ltd.’s holdings in ResMed were worth $14,105,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Peak Financial Advisors LLC purchased a new position in shares of ResMed during the 4th quarter worth approximately $2,972,000. Principal Financial Group Inc. lifted its stake in ResMed by 2.9% during the third quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider’s stock worth $45,596,000 after purchasing an additional 5,284 shares in the last quarter. Spire Wealth Management boosted its position in shares of ResMed by 11.3% during the fourth quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider’s stock worth $2,470,000 after buying an additional 1,100 shares during the period. Retireful LLC acquired a new stake in shares of ResMed in the third quarter valued at $742,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in ResMed by 38.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,830 shares of the medical equipment provider’s stock worth $2,989,000 after acquiring an additional 3,576 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Trading Down 2.7 %

Shares of ResMed stock opened at $232.93 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. ResMed Inc. has a 1 year low of $170.56 and a 1 year high of $263.05. The company’s fifty day moving average is $238.51 and its two-hundred day moving average is $238.68. The company has a market capitalization of $34.21 billion, a P/E ratio of 27.50, a PEG ratio of 1.57 and a beta of 0.70.

ResMed (NYSE:RMD) last issued 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 return on equity of 26.17% and a net margin of 25.34%. Analysts forecast that ResMed Inc. will post 9.44 earnings per share for the current year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 0.91%. ResMed’s dividend payout ratio is currently 25.03%.

Insider Buying and Selling at ResMed

In other ResMed news, insider Justin Leong sold 6,160 shares of the business’s stock in a transaction on 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 sale, the insider now directly owns 21,718 shares in the company, valued at approximately $5,279,428.62. The trade was a 22.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $245.65, for a total transaction of $491,300.00. Following the transaction, the director now directly owns 81,218 shares in the company, valued at approximately $19,951,201.70. This trade represents a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,307 shares of company stock valued at $4,403,180. 0.71% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on RMD shares. UBS Group upgraded shares of ResMed from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. Royal Bank of Canada upped their target price on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. The Goldman Sachs Group initiated coverage on shares of ResMed in a research report on Thursday, January 16th. They issued a “buy” rating for the company. Robert W. Baird upped their price target on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Finally, Piper Sandler raised their price objective on shares of ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, ResMed currently has an average rating of “Moderate Buy” and an average price target of $244.73.

ResMed 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.