Sumitomo Mitsui DS Asset Management Company Ltd Buys 313 Shares of ResMed Inc. (NYSE:RMD)

Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in ResMed Inc. (NYSE:RMD) by 2.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,548 shares of the medical equipment provider’s stock after acquiring an additional 313 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in ResMed were worth $3,796,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of RMD. OFI Invest Asset Management bought a new position in ResMed in the 2nd quarter worth approximately $32,000. BOK Financial Private Wealth Inc. acquired a new stake in shares of ResMed in the 1st quarter valued at $35,000. Versant Capital Management Inc raised its position in shares of ResMed by 196.7% during the second quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock worth $35,000 after acquiring an additional 120 shares during the last quarter. Financial Connections Group Inc. acquired a new position in shares of ResMed during the second quarter valued at $37,000. Finally, Riverview Trust Co bought a new position in ResMed in the first quarter valued at about $42,000. 54.98% of the stock is owned by institutional investors.

ResMed Stock Performance

RMD stock opened at $240.00 on Monday. ResMed Inc. has a 1-year low of $132.24 and a 1-year high of $255.18. The company has a current ratio of 2.59, a quick ratio of 1.69 and a debt-to-equity ratio of 0.14. The firm has a market cap of $35.26 billion, a PE ratio of 36.87, a P/E/G ratio of 2.17 and a beta of 0.69. The business’s 50-day moving average price is $238.78 and its two-hundred day moving average price is $216.31.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.05. ResMed had a return on equity of 25.00% and a net margin of 21.79%. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the previous year, the business posted $1.60 EPS. ResMed’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, research analysts forecast that ResMed Inc. will post 9.02 earnings per share for the current year.

ResMed Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, August 15th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.88%. The ex-dividend date was Thursday, August 15th. This is a boost from ResMed’s previous quarterly dividend of $0.48. ResMed’s dividend payout ratio is 32.57%.

Wall Street Analyst Weigh In

RMD has been the subject of several recent research reports. Oppenheimer cut ResMed from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Bank of America raised their price objective on shares of ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. KeyCorp upped their target price on shares of ResMed from $238.00 to $251.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Wolfe Research restated an “underperform” rating and issued a $180.00 price target on shares of ResMed in a research report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $218.18.

Insider Buying and Selling

In related news, General Counsel Michael J. Rider sold 882 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $231.00, for a total value of $203,742.00. Following the completion of the transaction, the general counsel now directly owns 10,512 shares of the company’s stock, valued at approximately $2,428,272. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, General Counsel Michael J. Rider sold 882 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $231.00, for a total value of $203,742.00. Following the sale, the general counsel now directly owns 10,512 shares in the company, valued at $2,428,272. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kaushik Ghoshal sold 4,260 shares of the company’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $238.48, for a total value of $1,015,924.80. Following the transaction, the insider now directly owns 21,788 shares of the company’s stock, valued at $5,196,002.24. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 123,874 shares of company stock worth $28,151,142 over the last ninety days. Company insiders own 1.21% of the company’s stock.

ResMed Company 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.