Sumitomo Mitsui Trust Group Inc. Sells 13,346 Shares of ResMed Inc. (NYSE:RMD)

Sumitomo Mitsui Trust Group Inc. decreased its position in ResMed Inc. (NYSE:RMD) by 3.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 332,196 shares of the medical equipment provider’s stock after selling 13,346 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in ResMed were worth $75,970,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC increased its position in ResMed by 10.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock valued at $939,114,000 after purchasing an additional 380,383 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of ResMed by 726.3% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,801 shares of the medical equipment provider’s stock valued at $69,281,000 after purchasing an additional 249,454 shares in the last quarter. Nordea Investment Management AB increased its holdings in ResMed by 92.7% during the fourth quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider’s stock valued at $103,214,000 after buying an additional 215,561 shares during the period. State Street Corp raised its stake in ResMed by 1.9% in the third quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider’s stock worth $1,528,590,000 after buying an additional 116,918 shares in the last quarter. Finally, Tidal Investments LLC lifted its holdings in ResMed by 738.4% during the third quarter. Tidal Investments LLC now owns 104,938 shares of the medical equipment provider’s stock worth $25,617,000 after buying an additional 92,422 shares during the period. Institutional investors own 54.98% of the company’s stock.

ResMed Trading Down 0.1 %

NYSE:RMD opened at $236.84 on Monday. The company has a market capitalization of $34.78 billion, a P/E ratio of 27.96, a PEG ratio of 1.57 and a beta of 0.70. 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 12 month low of $170.56 and a 12 month high of $263.05. The firm has a fifty day simple moving average of $239.18 and a 200-day simple moving average of $237.59.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share 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 anticipate that ResMed Inc. will post 9.44 earnings per share for the current year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s dividend payout ratio is presently 25.03%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RMD. JPMorgan Chase & Co. lifted their price target on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a report on Friday, January 31st. KeyCorp boosted their target price on shares of ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Needham & Company LLC restated a “hold” rating on shares of ResMed in a report on Friday, January 31st. Royal Bank of Canada boosted their price objective on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Finally, StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $244.73.

Insider Buying and Selling at ResMed

In related news, Director Witte Jan De sold 796 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total transaction of $198,052.76. Following the completion of the transaction, the director now owns 6,723 shares of the company’s stock, valued at $1,672,749.63. This trade represents a 10.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the company’s 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 sale, the director now directly owns 77,218 shares in the company, valued at approximately $18,695,249.98. The trade was 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 11,094 shares of company stock worth $2,704,941. Company insiders own 0.71% of the company’s stock.

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.