ResMed Inc. $RMD Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. cut its holdings in ResMed Inc. (NYSE:RMD) by 3.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 336,487 shares of the medical equipment provider’s stock after selling 11,350 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in ResMed were worth $74,397,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Meridian Management Co. raised its holdings in ResMed by 0.6% in the 1st quarter. Meridian Management Co. now owns 11,332 shares of the medical equipment provider’s stock worth $2,544,000 after acquiring an additional 70 shares during the last quarter. Glenmede Trust Co. NA increased its stake in shares of ResMed by 1.3% in the first quarter. Glenmede Trust Co. NA now owns 5,479 shares of the medical equipment provider’s stock worth $1,230,000 after purchasing an additional 71 shares in the last quarter. Citizens Financial Group Inc. RI boosted its stake in shares of ResMed by 7.6% in the first quarter. Citizens Financial Group Inc. RI now owns 1,295 shares of the medical equipment provider’s stock worth $291,000 after acquiring an additional 92 shares during the period. V Square Quantitative Management LLC raised its position in shares of ResMed by 7.7% during the first quarter. V Square Quantitative Management LLC now owns 1,403 shares of the medical equipment provider’s stock valued at $315,000 after buying an additional 100 shares during the last quarter. Finally, Moss Adams Wealth Advisors LLC boosted its position in shares of ResMed by 3.1% during the third quarter. Moss Adams Wealth Advisors LLC now owns 3,477 shares of the medical equipment provider’s stock worth $769,000 after acquiring an additional 103 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

More ResMed News

Here are the key news stories impacting ResMed this week:

• Positive Sentiment: ResMed’s earnings-call outlook pointed to continued growth despite headwinds related to its Astral products. Separately, UBS said the company is likely to sustain earnings growth. ResMed Earnings Call Signals Growth Despite Astral Headwinds ResMed Likely Able to Sustain Earnings Growth, UBS Says
• Positive Sentiment: A report on the quarter highlighted 7% core constant-currency revenue growth and noted that patients taking GLP-1 drugs are more likely to start CPAP therapy—potentially supporting demand over time. ResMed: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Several analyst price targets were raised, including targets of $250, $270 and $277, signaling potential upside in those analysts’ views. ResMed Price Target Raised to $277 ResMed Price Target Raised to $270 ResMed Price Target Raised to $250
• Neutral Sentiment: ResMed reported 559.448 million ASX-listed CHESS Depositary Interests for October. The update concerns its Australian-listed securities and, by itself, does not indicate a change in business performance. ResMed Reports October Decline in ASX CDIs
• Negative Sentiment: Canaccord Genuity cut its rating on ResMed from Buy to Hold, removing a source of bullish analyst support. A separate Seeking Alpha assessment argued the company is high quality but not yet a bargain, highlighting valuation as a potential constraint. Canaccord Genuity Group ratings ResMed: A Quality Compounder, But Not Yet A Bargain

ResMed Price Performance

Shares of NYSE RMD opened at $226.56 on Wednesday. The stock’s 50-day moving average is $231.77 and its two-hundred day moving average is $225.16. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.65 and a quick ratio of 1.88. ResMed Inc. has a 1-year low of $180.26 and a 1-year high of $277.67. The company has a market cap of $31.87 billion, a price-to-earnings ratio of 20.20, a price-to-earnings-growth ratio of 1.43 and a beta of 0.77.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, October 29th. The medical equipment provider reported $2.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.67 by $0.24. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.39 billion. ResMed had a net margin of 27.79% and a return on equity of 26.42%. The company’s revenue was up 5.9% on a year-over-year basis. During the same period last year, the business earned $2.55 EPS. Analysts forecast that ResMed Inc. will post 12.14 EPS for the current fiscal year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Thursday, November 12th will be given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Thursday, November 12th. ResMed’s dividend payout ratio is currently 24.04%.

Insider Transactions at ResMed

In other news, General Counsel Michael Rider sold 400 shares of the stock in a transaction dated Friday, October 23rd. The stock was sold at an average price of $255.00, for a total value of $102,000.00. Following the transaction, the general counsel owned 12,318 shares in the company, valued at approximately $3,141,090. This represents a 3.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Farrell sold 4,991 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $205.69, for a total value of $1,026,598.79. Following the sale, the chief executive officer directly owned 466,256 shares in the company, valued at $95,904,196.64. This trade represents a 1.06% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 16,343 shares of company stock valued at $3,596,098. 0.58% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

RMD has been the subject of several research reports. Canaccord Genuity Group downgraded shares of ResMed from a “buy” rating to a “hold” rating in a report on Monday. Royal Bank Of Canada lifted their target price on ResMed from $262.00 to $288.00 and gave the stock an “outperform” rating in a report on Friday, October 30th. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research report on Friday. Citigroup increased their price target on ResMed from $240.00 to $270.00 and gave the company a “neutral” rating in a research note on Friday, October 30th. Finally, Mizuho set a $270.00 price target on ResMed in a report on Friday. Seven equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $253.69.

ResMed Company Profile

ResMed Inc is a medical equipment and software company that develops solutions for sleep-disordered breathing, respiratory conditions and other chronic diseases. The company is best known for its positive airway pressure (PAP) devices used to treat obstructive sleep apnea, along with masks, accessories and related patient support services.

ResMed also provides cloud-connected health technology, including remote-monitoring platforms and software used by healthcare providers, medical equipment suppliers and care organizations.