Tokio Marine Asset Management Co. Ltd. Acquires 128 Shares of ResMed Inc. (NYSE:RMD)

Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of ResMed Inc. (NYSE:RMD) by 3.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,808 shares of the medical equipment provider’s stock after purchasing an additional 128 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in ResMed were worth $655,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Morgan Stanley increased its stake in shares of ResMed by 102.4% during the third quarter. Morgan Stanley now owns 2,329,618 shares of the medical equipment provider’s stock valued at $344,481,000 after purchasing an additional 1,178,547 shares in the last quarter. abrdn plc increased its position in shares of ResMed by 79.2% during the third quarter. abrdn plc now owns 901,485 shares of the medical equipment provider’s stock valued at $133,303,000 after acquiring an additional 398,302 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of ResMed by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 817,176 shares of the medical equipment provider’s stock valued at $120,836,000 after acquiring an additional 2,882 shares in the last quarter. LGT Capital Partners LTD. bought a new stake in shares of ResMed during the fourth quarter valued at approximately $117,621,000. Finally, Hsbc Holdings PLC increased its position in shares of ResMed by 109.9% during the third quarter. Hsbc Holdings PLC now owns 490,214 shares of the medical equipment provider’s stock valued at $72,785,000 after acquiring an additional 256,624 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

ResMed Trading Up 18.9 %

Shares of RMD stock opened at $218.06 on Friday. The firm’s 50 day moving average is $187.07 and its 200 day moving average is $172.12. The stock has a market capitalization of $32.07 billion, a P/E ratio of 33.50, a P/E/G ratio of 2.68 and a beta of 0.67. ResMed Inc. has a 12-month low of $132.24 and a 12-month high of $243.52. The company has a current ratio of 3.11, a quick ratio of 1.89 and a debt-to-equity ratio of 0.27.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.22. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.17 billion. ResMed had a net margin of 20.91% and a return on equity of 24.92%. The company’s revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.68 EPS. Research analysts expect that ResMed Inc. will post 7.52 earnings per share for the current year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 9th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Wednesday, May 8th. ResMed’s dividend payout ratio is presently 29.49%.

Insider Transactions at ResMed

In other news, Director Peter C. Farrell sold 10,935 shares of ResMed stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the transaction, the director now owns 157,404 shares in the company, valued at approximately $28,751,414.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, General Counsel Michael J. Rider sold 200 shares of ResMed 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 transaction, the general counsel now owns 6,688 shares in the company, valued at approximately $1,158,696. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Peter C. Farrell sold 10,935 shares of ResMed stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the transaction, the director now owns 157,404 shares in the company, valued at approximately $28,751,414.64. The disclosure for this sale can be found here. Insiders have sold 11,216 shares of company stock worth $2,046,617 in the last 90 days. 1.21% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on RMD shares. UBS Group raised their price target on shares of ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. Mizuho reissued a “buy” rating and set a $215.00 price target on shares of ResMed in a research report on Wednesday, March 27th. Oppenheimer reduced their price target on shares of ResMed from $205.00 to $200.00 and set an “outperform” rating for the company in a research report on Friday. Royal Bank of Canada raised their price target on shares of ResMed from $187.00 to $200.00 and gave the company a “sector perform” rating in a research report on Friday. Finally, Needham & Company LLC raised their price target on shares of ResMed from $224.00 to $236.00 and gave the company a “buy” rating in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $202.80.

ResMed Company 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.