Mitsubishi UFJ Asset Management Co. Ltd. Buys 9,730 Shares of ResMed Inc. $RMD

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of ResMed Inc. (NYSE:RMD) by 3.5% during the third quarter, HoldingsChannel.com reports. The firm owned 289,606 shares of the medical equipment provider’s stock after buying an additional 9,730 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in ResMed were worth $79,274,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Intech Investment Management LLC raised its stake in ResMed by 40.9% during the third quarter. Intech Investment Management LLC now owns 31,299 shares of the medical equipment provider’s stock worth $8,567,000 after acquiring an additional 9,083 shares in the last quarter. Empirical Asset Management LLC bought a new stake in shares of ResMed during the third quarter worth approximately $839,000. Fox Run Management L.L.C. bought a new stake in shares of ResMed during the 3rd quarter valued at $446,000. MAI Capital Management lifted its stake in ResMed by 40.5% in the third quarter. MAI Capital Management now owns 2,701 shares of the medical equipment provider’s stock valued at $739,000 after buying an additional 779 shares during the period. Finally, North Star Asset Management Inc. boosted its stake in ResMed by 4.8% during the 3rd quarter. North Star Asset Management Inc. now owns 10,362 shares of the medical equipment provider’s stock worth $2,836,000 after acquiring an additional 476 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

ResMed Stock Performance

Shares of RMD stock opened at $256.34 on Friday. The stock has a market capitalization of $37.34 billion, a PE ratio of 25.36, a PEG ratio of 1.71 and a beta of 0.87. The business’s 50 day simple moving average is $254.05 and its 200 day simple moving average is $261.21. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.06 and a quick ratio of 2.32. ResMed Inc. has a one year low of $199.92 and a one year high of $293.81.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, January 29th. The medical equipment provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $0.13. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the previous year, the company earned $2.43 EPS. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, research analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Thursday, February 12th will be paid a dividend of $0.60 per share. The ex-dividend date is Thursday, February 12th. This represents a $2.40 dividend on an annualized basis and a yield of 0.9%. ResMed’s payout ratio is 23.74%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Weiss Ratings upgraded ResMed from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 9th. Robert W. Baird set a $281.00 price objective on ResMed in a research note on Friday, January 30th. UBS Group reiterated a “buy” rating and issued a $345.00 target price on shares of ResMed in a research note on Friday, December 12th. Wall Street Zen raised shares of ResMed from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Finally, Wells Fargo & Company increased their target price on ResMed from $265.00 to $270.00 and gave the stock an “equal weight” rating in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $299.27.

Insider Buying and Selling at ResMed

In related news, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 466,223 shares of the company’s stock, valued at $127,642,532.94. This trade represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $251.31, for a total value of $502,620.00. Following the sale, the director owned 64,773 shares in the company, valued at $16,278,102.63. This trade represents a 3.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 16,082 shares of company stock valued at $4,134,807. Company insiders own 0.65% of the company’s stock.

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.