Asset Management One Co. Ltd. Boosts Stock Position in ResMed Inc. (NYSE:RMD)

Asset Management One Co. Ltd. grew its stake in shares of ResMed Inc. (NYSE:RMD - Free Report) by 5.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 58,860 shares of the medical equipment provider's stock after acquiring an additional 2,878 shares during the period. Asset Management One Co. Ltd.'s holdings in ResMed were worth $14,369,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp increased its holdings in ResMed by 51.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider's stock worth $1,105,022,000 after acquiring an additional 1,959,642 shares during the period. Marshall Wace LLP purchased a new stake in shares of ResMed in the second quarter worth $77,285,000. Greenvale Capital LLP boosted its stake in ResMed by 61.1% during the second quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider's stock valued at $138,780,000 after buying an additional 275,000 shares during the period. Los Angeles Capital Management LLC grew its position in ResMed by 48.3% during the second quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider's stock worth $141,694,000 after buying an additional 241,195 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in ResMed in the 2nd quarter worth about $42,036,000. 54.98% of the stock is owned by institutional investors.

Insider Buying and Selling

In other ResMed news, insider Kaushik Ghoshal sold 4,260 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now owns 21,788 shares in the company, valued at approximately $5,196,002.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Kaushik Ghoshal sold 4,260 shares of the business's stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $238.48, for a total transaction of $1,015,924.80. Following the transaction, the insider now owns 21,788 shares in the company, valued at $5,196,002.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brett Sandercock sold 1,000 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $246.42, for a total transaction of $246,420.00. Following the completion of the transaction, the chief financial officer now directly owns 96,812 shares of the company's stock, valued at approximately $23,856,413.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 60,260 shares of company stock valued at $14,390,487 over the last ninety days. 0.71% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on RMD shares. Baird R W upgraded ResMed to a "strong-buy" rating in a research report on Tuesday, September 24th. Bank of America boosted their price target on shares of ResMed from $240.00 to $270.00 and gave the stock a "buy" rating in a research note on Thursday, September 26th. Royal Bank of Canada increased their price target on shares of ResMed from $224.00 to $232.00 and gave the stock a "sector perform" rating in a report on Friday, October 25th. KeyCorp upped their target price on shares of ResMed from $251.00 to $266.00 and gave the stock an "overweight" rating in a research report on Friday, October 25th. Finally, Wolfe Research reissued an "underperform" rating and issued a $180.00 target price on shares of ResMed in a research note on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $225.70.

ResMed Trading Up 1.4 %

RMD stock traded up $3.31 during trading on Thursday, hitting $248.42. 815,806 shares of the company traded hands, compared to its average volume of 1,051,547. The company has a 50-day moving average of $243.12 and a 200-day moving average of $221.39. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92. ResMed Inc. has a 1 year low of $140.81 and a 1 year high of $260.49. The firm has a market capitalization of $36.47 billion, a PE ratio of 32.92, a P/E/G ratio of 1.78 and a beta of 0.69.

ResMed (NYSE:RMD - Get Free Report) last issued its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The firm had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.19 billion. During the same quarter last year, the business earned $1.64 earnings per share. The business's revenue was up 11.1% on a year-over-year basis. Analysts predict that ResMed Inc. will post 9.22 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.85%. ResMed's dividend payout ratio is currently 28.08%.

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.