ResMed Inc. (NYSE:RMD) Shares Bought by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. grew its holdings in ResMed Inc. (NYSE:RMD) by 6.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 64,186 shares of the medical equipment provider’s stock after acquiring an additional 3,697 shares during the period. Asset Management One Co. Ltd.’s holdings in ResMed were worth $14,368,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. CVA Family Office LLC increased its holdings in ResMed by 29.8% in the 1st quarter. CVA Family Office LLC now owns 209 shares of the medical equipment provider’s stock valued at $47,000 after purchasing an additional 48 shares in the last quarter. Central Pacific Bank Trust Division boosted its position in shares of ResMed by 9.7% in the first quarter. Central Pacific Bank Trust Division now owns 565 shares of the medical equipment provider’s stock worth $126,000 after buying an additional 50 shares during the period. Faithward Advisors LLC grew its stake in shares of ResMed by 4.3% in the fourth quarter. Faithward Advisors LLC now owns 1,279 shares of the medical equipment provider’s stock valued at $292,000 after buying an additional 53 shares in the last quarter. Portside Wealth Group LLC raised its holdings in shares of ResMed by 3.8% during the 1st quarter. Portside Wealth Group LLC now owns 1,457 shares of the medical equipment provider’s stock valued at $326,000 after buying an additional 54 shares during the period. Finally, Meiji Yasuda Life Insurance Co raised its holdings in shares of ResMed by 4.6% during the 4th quarter. Meiji Yasuda Life Insurance Co now owns 1,356 shares of the medical equipment provider’s stock valued at $310,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Stock Performance

RMD stock opened at $256.49 on Friday. The stock’s 50 day simple moving average is $244.15 and its 200 day simple moving average is $235.33. ResMed Inc. has a 12-month low of $186.22 and a 12-month high of $263.05. The firm has a market cap of $37.61 billion, a P/E ratio of 28.79, a P/E/G ratio of 1.78 and a beta of 0.78. The company has a current ratio of 3.41, a quick ratio of 2.49 and a debt-to-equity ratio of 0.12.

ResMed (NYSE:RMD) last issued its earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.01. ResMed had a net margin of 26.15% and a return on equity of 25.67%. The company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the prior year, the company earned $2.13 earnings per share. The firm’s revenue was up 7.9% compared to the same quarter last year. As a group, equities research analysts predict that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Thursday, May 8th were issued a $0.53 dividend. The ex-dividend date was Thursday, May 8th. This represents a $2.12 dividend on an annualized basis and a yield of 0.83%. ResMed’s dividend payout ratio is currently 23.79%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Morgan Stanley set a $286.00 price objective on shares of ResMed and gave the company an “overweight” rating in a research note on Tuesday, May 20th. JPMorgan Chase & Co. lifted their price target on shares of ResMed from $286.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Mizuho set a $265.00 price objective on shares of ResMed in a report on Wednesday, April 16th. Stifel Nicolaus lowered their target price on ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a research note on Wednesday, March 5th. Finally, KeyCorp set a $274.00 target price on ResMed in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $259.33.

Insider Buying and Selling at ResMed

In related news, Director Witte Jan De sold 2,000 shares of ResMed stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $243.47, for a total value of $486,940.00. Following the sale, the director now directly owns 5,806 shares in the company, valued at $1,413,586.82. This trade represents a 25.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of the company’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $209.85, for a total transaction of $1,680,688.65. Following the completion of the transaction, the chief executive officer now owns 455,472 shares of the company’s stock, valued at approximately $95,580,799.20. This trade represents a 1.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,132 shares of company stock worth $7,075,837 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.