ResMed Inc. (NYSE:RMD) Shares Bought by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of ResMed Inc. (NYSE:RMD) by 0.5% in the 1st quarter, Holdings Channel reports. The firm owned 350,541 shares of the medical equipment provider’s stock after buying an additional 1,797 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in ResMed were worth $69,418,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RMD. Norges Bank acquired a new stake in ResMed during the fourth quarter valued at approximately $233,966,000. Morgan Stanley lifted its stake in ResMed by 102.4% during the third quarter. Morgan Stanley now owns 2,329,618 shares of the medical equipment provider’s stock valued at $344,481,000 after purchasing an additional 1,178,547 shares during the last quarter. LGT Capital Partners LTD. acquired a new stake in ResMed during the fourth quarter valued at approximately $117,621,000. Los Angeles Capital Management LLC lifted its stake in ResMed by 3,599.0% during the first quarter. Los Angeles Capital Management LLC now owns 499,031 shares of the medical equipment provider’s stock valued at $98,823,000 after purchasing an additional 485,540 shares during the last quarter. Finally, Greenvale Capital LLP lifted its stake in ResMed by 198.3% during the fourth quarter. Greenvale Capital LLP now owns 551,901 shares of the medical equipment provider’s stock valued at $94,938,000 after purchasing an additional 366,901 shares during the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Stock Performance

Shares of RMD opened at $194.81 on Friday. The company’s fifty day moving average is $208.94 and its 200-day moving average is $191.61. ResMed Inc. has a 12 month low of $132.24 and a 12 month high of $229.97. The firm has a market cap of $28.62 billion, a price-to-earnings ratio of 29.92, a price-to-earnings-growth ratio of 1.64 and a beta of 0.66. The company has a quick ratio of 1.97, a current ratio of 3.04 and a debt-to-equity ratio of 0.22.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 EPS for the quarter, topping the consensus estimate of $1.91 by $0.22. ResMed had a net margin of 20.91% and a return on equity of 24.43%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the business posted $1.68 EPS. ResMed’s quarterly revenue was up 7.2% on a year-over-year basis. Equities analysts expect that ResMed Inc. will post 7.7 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 9th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Wednesday, May 8th. ResMed’s dividend payout ratio is currently 29.49%.

Insider Buying and Selling

In related news, CEO Michael J. Farrell sold 14,683 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $216.50, for a total transaction of $3,178,869.50. Following the completion of the sale, the chief executive officer now directly owns 440,752 shares of the company’s stock, valued at approximately $95,422,808. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Michael J. Farrell sold 14,683 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $216.50, for a total transaction of $3,178,869.50. Following the completion of the sale, the chief executive officer now directly owns 440,752 shares of the company’s stock, valued at approximately $95,422,808. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Brett Sandercock sold 1,000 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $209.81, for a total transaction of $209,810.00. Following the sale, the chief financial officer now directly owns 91,056 shares of the company’s stock, valued at $19,104,459.36. The disclosure for this sale can be found here. In the last three months, insiders sold 31,151 shares of company stock valued at $6,666,409. Company insiders own 1.21% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Oppenheimer lowered shares of ResMed from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. KeyCorp boosted their price target on shares of ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Citigroup lowered shares of ResMed from a “buy” rating to a “neutral” rating in a report on Monday, June 24th. Mizuho restated a “buy” rating and set a $215.00 price target on shares of ResMed in a report on Wednesday, March 27th. Finally, Needham & Company LLC restated a “buy” rating and set a $236.00 price target on shares of ResMed in a report on Monday, June 24th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $202.80.

ResMed 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.