Asset Management One Co. Ltd. Increases Holdings in ResMed Inc. (NYSE:RMD)

Asset Management One Co. Ltd. lifted its position in shares of ResMed Inc. (NYSE:RMD) by 2.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,869 shares of the medical equipment provider’s stock after acquiring an additional 1,434 shares during the quarter. Asset Management One Co. Ltd.’s holdings in ResMed were worth $10,530,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Geode Capital Management LLC boosted its stake in shares of ResMed by 3.3% during the 1st quarter. Geode Capital Management LLC now owns 3,231,885 shares of the medical equipment provider’s stock worth $706,314,000 after acquiring an additional 103,438 shares in the last quarter. Morgan Stanley boosted its stake in shares of ResMed by 102.4% during the 3rd quarter. Morgan Stanley now owns 2,329,618 shares of the medical equipment provider’s stock worth $344,481,000 after acquiring an additional 1,178,547 shares in the last quarter. Norges Bank acquired a new position in shares of ResMed during the 4th quarter worth approximately $244,477,000. abrdn plc raised its position in shares of ResMed by 79.2% during the 3rd quarter. abrdn plc now owns 901,485 shares of the medical equipment provider’s stock worth $133,303,000 after purchasing an additional 398,302 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of ResMed by 12.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 849,576 shares of the medical equipment provider’s stock worth $176,822,000 after purchasing an additional 92,261 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Trading Down 0.5 %

Shares of RMD opened at $187.76 on Tuesday. The stock has a fifty day moving average of $186.96 and a two-hundred day moving average of $168.25. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.89 and a current ratio of 3.11. The company has a market capitalization of $27.62 billion, a PE ratio of 31.03, a price-to-earnings-growth ratio of 2.34 and a beta of 0.67. ResMed Inc. has a fifty-two week low of $132.24 and a fifty-two week high of $243.52.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.07. ResMed had a return on equity of 23.86% and a net margin of 19.77%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the firm posted $1.66 EPS. ResMed’s revenue was up 12.5% on a year-over-year basis. As a group, analysts forecast that ResMed Inc. will post 7.45 EPS for the current year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Thursday, February 8th were paid a dividend of $0.48 per share. The ex-dividend date was Wednesday, February 7th. This represents a $1.92 annualized dividend and a dividend yield of 1.02%. ResMed’s dividend payout ratio is presently 31.74%.

Insider Activity

In other news, General Counsel Michael J. Rider sold 200 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $173.25, for a total transaction of $34,650.00. Following the completion of the sale, the general counsel now directly owns 6,688 shares of the company’s stock, valued at approximately $1,158,696. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, General Counsel Michael J. Rider sold 200 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $173.25, for a total transaction of $34,650.00. Following the completion of the sale, the general counsel now directly owns 6,688 shares of the company’s stock, valued at approximately $1,158,696. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Peter C. Farrell sold 10,935 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the sale, the director now directly owns 157,404 shares of the company’s stock, valued at $28,751,414.64. The disclosure for this sale can be found here. Insiders sold 11,216 shares of company stock valued at $2,046,617 in the last ninety days. Company insiders own 1.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RMD. UBS Group lifted their price objective on ResMed from $175.00 to $180.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th. Mizuho restated a “buy” rating and set a $215.00 price objective on shares of ResMed in a research report on Wednesday, March 27th. Needham & Company LLC lifted their price objective on ResMed from $215.00 to $224.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Oppenheimer lifted their price objective on ResMed from $185.00 to $205.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 30th. Finally, KeyCorp assumed coverage on ResMed in a research report on Tuesday, February 6th. They set an “overweight” rating and a $227.00 price objective for the company. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $199.20.

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.