Mitsubishi UFJ Trust & Banking Corp Boosts Stock Position in ResMed Inc. (NYSE:RMD)

Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of ResMed Inc. (NYSE:RMD) by 26.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 111,451 shares of the medical equipment provider’s stock after purchasing an additional 23,250 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in ResMed were worth $25,488,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Geode Capital Management LLC raised its holdings in ResMed by 10.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock worth $939,114,000 after purchasing an additional 380,383 shares in the last quarter. Los Angeles Capital Management LLC increased its position in shares of ResMed by 60.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 668,908 shares of the medical equipment provider’s stock valued at $152,973,000 after buying an additional 250,746 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its stake in ResMed by 726.3% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,801 shares of the medical equipment provider’s stock worth $69,281,000 after buying an additional 249,454 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in ResMed in the fourth quarter worth about $50,364,000. Finally, Nordea Investment Management AB boosted its position in ResMed by 92.7% during the 4th quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider’s stock valued at $103,214,000 after acquiring an additional 215,561 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Insider Buying and Selling

In related news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $227.71, for a total value of $455,420.00. Following the completion of the sale, the director now owns 75,218 shares of the company’s stock, valued at $17,127,890.78. The trade was a 2.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kaushik Ghoshal sold 9,745 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $239.31, for a total value of $2,332,075.95. Following the completion of the transaction, the insider now directly owns 9,725 shares in the company, valued at approximately $2,327,289.75. This represents a 50.05 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,940 shares of company stock worth $9,164,385. 0.71% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

RMD has been the subject of several research reports. Citigroup raised ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 5th. JPMorgan Chase & Co. increased their price objective on ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. KeyCorp raised their price objective on ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research report on Friday, January 31st. Finally, Piper Sandler lifted their price target on shares of ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $249.73.

ResMed Trading Up 0.3 %

Shares of NYSE RMD opened at $222.62 on Friday. The firm’s 50 day moving average price is $234.10 and its 200-day moving average price is $238.43. ResMed Inc. has a 52-week low of $172.19 and a 52-week high of $263.05. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. The company has a market cap of $32.69 billion, a PE ratio of 26.28, a P/E/G ratio of 1.53 and a beta of 0.74.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, beating 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%. On average, equities research analysts expect that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 13th were given a dividend of $0.53 per share. The ex-dividend date of this dividend 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 presently 25.03%.

About ResMed

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.