Resona Asset Management Co. Ltd. Sells 2,217 Shares of ResMed Inc. $RMD

Resona Asset Management Co. Ltd. lessened its position in shares of ResMed Inc. (NYSE:RMD) by 4.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 46,914 shares of the medical equipment provider’s stock after selling 2,217 shares during the period. Resona Asset Management Co. Ltd.’s holdings in ResMed were worth $12,822,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. SJS Investment Consulting Inc. raised its position in ResMed by 1,433.3% during the third quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 86 shares in the last quarter. WFA of San Diego LLC bought a new position in shares of ResMed in the 2nd quarter valued at $26,000. GoalVest Advisory LLC acquired a new position in shares of ResMed during the 3rd quarter worth $37,000. Harbour Investments Inc. raised its holdings in shares of ResMed by 264.2% during the 2nd quarter. Harbour Investments Inc. now owns 244 shares of the medical equipment provider’s stock worth $63,000 after buying an additional 177 shares in the last quarter. Finally, Root Financial Partners LLC bought a new stake in shares of ResMed during the 3rd quarter worth $64,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on RMD. Weiss Ratings reiterated a “hold (c+)” rating on shares of ResMed in a research report on Monday, December 29th. Morgan Stanley set a $305.00 price target on shares of ResMed in a report on Friday, October 31st. Mizuho dropped their price objective on shares of ResMed from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, October 31st. Royal Bank Of Canada raised their target price on shares of ResMed from $300.00 to $303.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Finally, Wells Fargo & Company started coverage on shares of ResMed in a report on Monday, October 13th. They set an “equal weight” rating and a $280.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $296.09.

Insiders Place Their Bets

In other news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $248.83, for a total transaction of $497,660.00. Following the completion of the transaction, the director directly owned 66,773 shares in the company, valued at $16,615,125.59. This trade represents a 2.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael J. Farrell sold 8,011 shares of ResMed stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $249.75, for a total value of $2,000,747.25. Following the completion of the transaction, the chief executive officer directly owned 467,866 shares in the company, valued at approximately $116,849,533.50. This represents a 1.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 21,594 shares of company stock valued at $5,403,495. 0.65% of the stock is currently owned by company insiders.

ResMed Stock Down 1.1%

Shares of NYSE RMD opened at $252.44 on Monday. The company has a 50 day simple moving average of $249.96 and a 200 day simple moving average of $263.28. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.89 and a quick ratio of 2.13. ResMed Inc. has a 1 year low of $199.92 and a 1 year high of $293.81. The firm has a market cap of $36.84 billion, a PE ratio of 25.84, a price-to-earnings-growth ratio of 1.70 and a beta of 0.88.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.06. The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.33 billion. ResMed had a net margin of 27.35% and a return on equity of 25.45%. The company’s revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.20 EPS. On average, research analysts forecast that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, November 13th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Thursday, November 13th. ResMed’s dividend payout ratio (DPR) is currently 24.56%.

ResMed Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.