Resona Asset Management Co. Ltd. Has $12.65 Million Stock Holdings in ResMed Inc. $RMD

Resona Asset Management Co. Ltd. lifted its position in shares of ResMed Inc. (NYSE:RMD) by 6.3% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 49,131 shares of the medical equipment provider’s stock after buying an additional 2,899 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in ResMed were worth $12,654,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Zions Bancorporation National Association UT acquired a new stake in ResMed during the 1st quarter worth approximately $45,000. Groupe la Francaise bought a new position in shares of ResMed during the first quarter valued at $45,000. Harbour Investments Inc. raised its stake in shares of ResMed by 264.2% during the second quarter. Harbour Investments Inc. now owns 244 shares of the medical equipment provider’s stock valued at $63,000 after acquiring an additional 177 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of ResMed by 926.7% during the first quarter. Larson Financial Group LLC now owns 308 shares of the medical equipment provider’s stock worth $69,000 after purchasing an additional 278 shares during the period. Finally, Quarry LP grew its stake in shares of ResMed by 141.1% in the first quarter. Quarry LP now owns 311 shares of the medical equipment provider’s stock worth $70,000 after purchasing an additional 182 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Analysts Set New Price Targets

RMD has been the subject of a number of recent research reports. Wells Fargo & Company started coverage on ResMed in a report on Monday, October 13th. They issued an “equal weight” rating and a $280.00 price objective for the company. Mizuho decreased their price target on ResMed from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, October 31st. Weiss Ratings restated a “buy (b-)” rating on shares of ResMed in a research report on Wednesday, October 8th. Royal Bank Of Canada lifted their price objective on ResMed from $300.00 to $303.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. Finally, Robert W. Baird decreased their target price on shares of ResMed from $320.00 to $300.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $297.45.

Insider Buying and Selling

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $282.85, for a total value of $2,265,345.65. Following the completion of the sale, the chief executive officer directly owned 467,792 shares in the company, valued at approximately $132,314,967.20. This trade represents a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Michael J. Rider sold 100 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $274.36, for a total transaction of $27,436.00. Following the transaction, the general counsel owned 11,327 shares in the company, valued at $3,107,675.72. This represents a 0.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 10,684 shares of company stock valued at $3,032,064 over the last ninety days. 0.65% of the stock is owned by corporate insiders.

ResMed Stock Up 0.7%

Shares of NYSE:RMD opened at $251.41 on Friday. ResMed Inc. has a 1 year low of $199.92 and a 1 year high of $293.81. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.44 and a quick ratio of 2.53. The business’s 50-day moving average is $268.54 and its 200-day moving average is $261.99. The company has a market capitalization of $36.69 billion, a price-to-earnings ratio of 26.44, a P/E/G ratio of 1.75 and a beta of 0.87.

ResMed (NYSE:RMD) last released its earnings results on Thursday, October 30th. The medical equipment provider reported $2.55 EPS for the quarter, topping the consensus estimate of $2.49 by $0.06. ResMed had a return on equity of 25.62% and a net margin of 27.22%.The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter last year, the firm posted $2.20 earnings per share. The firm’s revenue was up 9.1% on a year-over-year basis. Equities research analysts predict that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, November 13th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Thursday, November 13th. ResMed’s payout ratio is presently 24.56%.

ResMed Profile

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.