ResMed Inc. (NYSE:RMD) Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in ResMed Inc. (NYSE:RMD) by 2.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 15,235 shares of the medical equipment provider’s stock after acquiring an additional 305 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in ResMed were worth $2,916,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in ResMed by 24.9% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,083 shares of the medical equipment provider’s stock valued at $35,068,000 after purchasing an additional 35,273 shares during the period. Dimensional Fund Advisors LP raised its holdings in ResMed by 8.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 536,459 shares of the medical equipment provider’s stock valued at $92,285,000 after acquiring an additional 40,605 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in ResMed by 647.0% in the fourth quarter. Los Angeles Capital Management LLC now owns 13,491 shares of the medical equipment provider’s stock valued at $2,321,000 after acquiring an additional 11,685 shares in the last quarter. Mediolanum International Funds Ltd purchased a new position in ResMed in the first quarter worth approximately $2,246,000. Finally, Janney Montgomery Scott LLC grew its holdings in ResMed by 5.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 81,313 shares of the medical equipment provider’s stock worth $16,102,000 after acquiring an additional 4,075 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on RMD. Oppenheimer lowered shares of ResMed from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. Needham & Company LLC restated a “buy” rating and issued a $236.00 price target on shares of ResMed in a research note on Friday, August 2nd. KeyCorp upped their price objective on ResMed from $238.00 to $251.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Royal Bank of Canada increased their price objective on ResMed from $204.00 to $206.00 and gave the company a “sector perform” rating in a report on Friday, August 2nd. Finally, Citigroup cut ResMed from a “buy” rating to a “neutral” rating in a research note on Monday, June 24th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $204.70.

Insider Activity

In related news, CEO Michael J. Farrell sold 14,683 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $211.66, for a total transaction of $3,107,803.78. Following the transaction, the chief executive officer now owns 440,799 shares of the company’s stock, valued at $93,299,516.34. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other ResMed news, General Counsel Michael J. Rider sold 882 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $231.00, for a total value of $203,742.00. Following the transaction, the general counsel now directly owns 10,512 shares of the company’s stock, valued at approximately $2,428,272. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael J. Farrell sold 14,683 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $211.66, for a total transaction of $3,107,803.78. Following the completion of the sale, the chief executive officer now owns 440,799 shares of the company’s stock, valued at approximately $93,299,516.34. The disclosure for this sale can be found here. Over the last three months, insiders sold 95,931 shares of company stock valued at $20,326,437. Insiders own 1.21% of the company’s stock.

ResMed Trading Up 0.8 %

RMD opened at $245.02 on Friday. The company has a quick ratio of 1.69, a current ratio of 2.59 and a debt-to-equity ratio of 0.14. ResMed Inc. has a 52 week low of $132.24 and a 52 week high of $246.80. The business’s 50 day moving average is $210.08 and its two-hundred day moving average is $202.21. The firm has a market cap of $36.00 billion, a price-to-earnings ratio of 37.64, a price-to-earnings-growth ratio of 2.31 and a beta of 0.66.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.05. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period last year, the firm posted $1.60 earnings per share. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, research analysts predict that ResMed Inc. will post 8.72 EPS for the current year.

ResMed Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, August 15th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This is a positive change from ResMed’s previous quarterly dividend of $0.48. This represents a $2.12 dividend on an annualized basis and a yield of 0.87%. ResMed’s payout ratio is currently 32.57%.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.