ResMed Inc. (NYSE:RMD) Shares Acquired by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. increased its stake in shares of ResMed Inc. (NYSE:RMD) by 0.8% in the 4th quarter, HoldingsChannel reports. The firm owned 43,244 shares of the medical equipment provider’s stock after purchasing an additional 335 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in ResMed were worth $9,889,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. New Age Alpha Advisors LLC acquired a new position in shares of ResMed during the fourth quarter worth about $2,288,000. Norges Bank purchased a new position in ResMed in the fourth quarter worth approximately $118,605,000. NEOS Investment Management LLC grew its holdings in ResMed by 25.8% during the 4th quarter. NEOS Investment Management LLC now owns 6,039 shares of the medical equipment provider’s stock worth $1,381,000 after acquiring an additional 1,238 shares in the last quarter. UniSuper Management Pty Ltd grew its holdings in ResMed by 3.4% during the 4th quarter. UniSuper Management Pty Ltd now owns 65,610 shares of the medical equipment provider’s stock worth $15,004,000 after acquiring an additional 2,138 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co increased its position in shares of ResMed by 17.4% in the 4th quarter. Elo Mutual Pension Insurance Co now owns 15,229 shares of the medical equipment provider’s stock valued at $3,483,000 after purchasing an additional 2,261 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on RMD. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, March 25th. Morgan Stanley initiated coverage on ResMed in a research report on Wednesday, March 19th. They set an “overweight” rating and a $280.00 price objective for the company. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research report on Friday, January 31st. The Goldman Sachs Group assumed coverage on ResMed in a research note on Thursday, January 16th. They set a “buy” rating for the company. Finally, Citigroup upgraded shares of ResMed from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, ResMed currently has a consensus rating of “Moderate Buy” and a consensus price target of $249.73.

Insiders Place Their Bets

In other news, insider Kaushik Ghoshal sold 9,745 shares of the company’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 owns 9,725 shares in the company, valued at $2,327,289.75. This represents a 50.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total transaction of $484,220.00. Following the completion of the transaction, the director now owns 77,218 shares in the company, valued at approximately $18,695,249.98. This trade represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,940 shares of company stock valued at $9,164,385. 0.71% of the stock is owned by company insiders.

ResMed Stock Performance

Shares of RMD opened at $219.85 on Monday. The company’s 50 day simple moving average is $233.70 and its 200-day simple moving average is $238.02. ResMed Inc. has a 12-month low of $172.19 and a 12-month high of $263.05. The firm has a market cap of $32.29 billion, a PE ratio of 25.96, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. 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 (NYSE:RMD) last issued its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. As a group, equities analysts predict that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend was Thursday, February 13th. ResMed’s dividend payout ratio 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.