Asset Management One Co. Ltd. Buys 2,878 Shares of ResMed Inc. (NYSE:RMD)

Asset Management One Co. Ltd. raised its stake in shares of ResMed Inc. (NYSE:RMD) by 5.1% in the third quarter, Holdings Channel reports. The institutional investor owned 58,860 shares of the medical equipment provider’s stock after buying an additional 2,878 shares during the quarter. Asset Management One Co. Ltd.’s holdings in ResMed were worth $14,369,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its stake in ResMed by 51.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider’s stock worth $1,105,022,000 after purchasing an additional 1,959,642 shares in the last quarter. Los Angeles Capital Management LLC lifted its stake in shares of ResMed by 48.3% in the second quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider’s stock worth $141,694,000 after buying an additional 241,195 shares in the last quarter. Greenvale Capital LLP grew its holdings in shares of ResMed by 61.1% during the second quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock valued at $138,780,000 after buying an additional 275,000 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of ResMed by 19.3% during the second quarter. Dimensional Fund Advisors LP now owns 661,717 shares of the medical equipment provider’s stock valued at $126,670,000 after acquiring an additional 107,279 shares in the last quarter. Finally, Tandem Investment Advisors Inc. raised its holdings in ResMed by 3.0% in the 2nd quarter. Tandem Investment Advisors Inc. now owns 501,391 shares of the medical equipment provider’s stock worth $95,976,000 after acquiring an additional 14,590 shares during the last quarter. 54.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

RMD has been the subject of a number of research analyst reports. KeyCorp lifted their target price on ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Wolfe Research reissued an “underperform” rating and issued a $180.00 target price on shares of ResMed in a research report on Wednesday, September 18th. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research note on Friday, October 25th. Bank of America lifted their price target on shares of ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.70.

Insider Activity at ResMed

In other ResMed news, General Counsel Michael J. Rider sold 882 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $231.00, for a total value of $203,742.00. Following the completion of the sale, the general counsel now owns 10,512 shares of the company’s stock, valued at $2,428,272. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Michael J. Farrell sold 14,683 shares of ResMed stock in a transaction on Monday, October 7th. The stock was sold at an average price of $231.91, for a total transaction of $3,405,134.53. Following the completion of the sale, the chief executive officer now directly owns 464,169 shares in the company, valued at approximately $107,645,432.79. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Michael J. Rider sold 882 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $231.00, for a total transaction of $203,742.00. Following the completion of the transaction, the general counsel now directly owns 10,512 shares in the company, valued at $2,428,272. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 60,260 shares of company stock worth $14,390,487. Insiders own 0.71% of the company’s stock.

ResMed Stock Down 0.0 %

RMD opened at $245.63 on Thursday. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 1-year low of $140.81 and a 1-year high of $260.49. The firm’s 50 day simple moving average is $243.12 and its two-hundred day simple moving average is $221.39. The company has a market capitalization of $36.06 billion, a PE ratio of 32.53, a PEG ratio of 1.78 and a beta of 0.69.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the previous year, the business earned $1.64 EPS. The company’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, equities analysts forecast that ResMed Inc. will post 9.22 EPS for the current year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be issued a $0.53 dividend. The ex-dividend date is Thursday, November 7th. This represents a $2.12 annualized dividend and a dividend yield of 0.86%. ResMed’s dividend payout ratio (DPR) is presently 28.08%.

ResMed Company 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.