Meiji Yasuda Asset Management Co Ltd. Grows Stock Position in ResMed Inc. (NYSE:RMD)

Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of ResMed Inc. (NYSE:RMD) by 5.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,903 shares of the medical equipment provider’s stock after acquiring an additional 138 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in ResMed were worth $664,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of RMD. Thrivent Financial for Lutherans increased its stake in ResMed by 12.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 6,952 shares of the medical equipment provider’s stock valued at $1,697,000 after purchasing an additional 755 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of ResMed during the third quarter valued at $244,000. Cerity Partners LLC increased its position in shares of ResMed by 82.0% in the 3rd quarter. Cerity Partners LLC now owns 13,686 shares of the medical equipment provider’s stock valued at $3,341,000 after acquiring an additional 6,167 shares during the period. Summit Trail Advisors LLC raised its stake in ResMed by 15.6% in the 3rd quarter. Summit Trail Advisors LLC now owns 1,497 shares of the medical equipment provider’s stock worth $365,000 after acquiring an additional 202 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its position in ResMed by 6.2% during the 3rd quarter. Fisher Asset Management LLC now owns 26,727 shares of the medical equipment provider’s stock worth $6,525,000 after acquiring an additional 1,563 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Transactions at ResMed

In other ResMed news, insider Kaushik Ghoshal sold 9,745 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the completion of the sale, the insider now directly owns 9,725 shares in the company, valued at approximately $2,327,289.75. The trade was a 50.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $229.20, for a total value of $1,835,662.80. Following the transaction, the chief executive officer now directly owns 455,472 shares of the company’s stock, valued at $104,394,182.40. The trade was a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,940 shares of company stock valued at $9,164,385 over the last 90 days. Corporate insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RMD. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday. The Goldman Sachs Group assumed coverage on shares of ResMed in a research report on Thursday, January 16th. They set a “buy” rating for the company. Piper Sandler increased their price objective on shares of ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. UBS Group raised shares of ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Finally, KeyCorp upped their price target on shares of ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, ResMed currently has an average rating of “Moderate Buy” and a consensus target price of $249.73.

ResMed Stock Performance

NYSE RMD opened at $222.62 on Friday. The stock has a market capitalization of $32.69 billion, a price-to-earnings ratio of 26.28, a PEG ratio of 1.53 and a beta of 0.74. The stock has a 50-day moving average of $234.10 and a 200 day moving average of $238.43. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. ResMed Inc. has a twelve month low of $172.19 and a twelve month high of $263.05.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. Sell-side analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were given a $0.53 dividend. The ex-dividend date was Thursday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 0.95%. ResMed’s dividend payout ratio (DPR) is 25.03%.

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.