ResMed Inc. $RMD Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of ResMed Inc. (NYSE:RMD) by 6.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 309,089 shares of the medical equipment provider’s stock after buying an additional 19,483 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in ResMed were worth $75,668,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of RMD. ORG Partners LLC grew its position in ResMed by 181.6% in the 4th quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock worth $26,000 after purchasing an additional 69 shares during the last quarter. Imprint Wealth LLC bought a new position in ResMed in the 3rd quarter worth about $26,000. WFA of San Diego LLC bought a new position in ResMed in the 2nd quarter worth about $26,000. Sunbelt Securities Inc. bought a new position in ResMed in the 3rd quarter worth about $31,000. Finally, Westside Investment Management Inc. grew its position in ResMed by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 132 shares of the medical equipment provider’s stock worth $36,000 after purchasing an additional 66 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on RMD shares. KeyCorp decreased their target price on shares of ResMed from $302.00 to $290.00 and set an “overweight” rating for the company in a research report on Monday, April 27th. Weiss Ratings cut shares of ResMed from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, March 19th. Evercore set a $255.00 target price on shares of ResMed and gave the stock an “outperform” rating in a research report on Monday, April 13th. Robert W. Baird set a $225.00 target price on shares of ResMed in a research report on Friday, May 1st. Finally, Piper Sandler upped their target price on shares of ResMed from $270.00 to $275.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $286.18.

Insider Activity at ResMed

In related news, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $273.78, for a total transaction of $1,366,435.98. Following the completion of the sale, the chief executive officer directly owned 466,223 shares in the company, valued at approximately $127,642,532.94. This trade represents a 1.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $225.00, for a total transaction of $450,000.00. The disclosure for this sale is available in the SEC filing. Insiders sold 18,973 shares of company stock valued at $4,715,237 over the last quarter. Insiders own 0.65% of the company’s stock.

ResMed Trading Down 1.3%

ResMed stock opened at $206.83 on Friday. The firm has a 50 day simple moving average of $230.41 and a 200-day simple moving average of $245.04. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.01 and a quick ratio of 2.33. The stock has a market capitalization of $30.13 billion, a PE ratio of 19.94, a price-to-earnings-growth ratio of 1.34 and a beta of 0.84. ResMed Inc. has a 12-month low of $198.64 and a 12-month high of $293.81.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.07. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.42 billion. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The business’s revenue was up 10.8% on a year-over-year basis. During the same period last year, the firm posted $2.37 earnings per share. As a group, equities research analysts expect that ResMed Inc. will post 11.13 EPS for the current fiscal year.

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th will be issued a $0.60 dividend. The ex-dividend date is Thursday, May 14th. This represents a $2.40 annualized dividend and a dividend yield of 1.2%. ResMed’s dividend payout ratio (DPR) is 23.14%.

ResMed Company 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.