Mitsubishi UFJ Trust & Banking Corp Acquires 23,250 Shares of ResMed Inc. (NYSE:RMD)

Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of ResMed Inc. (NYSE:RMD - Free Report) by 26.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 111,451 shares of the medical equipment provider's stock after acquiring an additional 23,250 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.08% of ResMed worth $25,488,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Meiji Yasuda Asset Management Co Ltd. increased its position in ResMed by 5.0% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,903 shares of the medical equipment provider's stock valued at $664,000 after acquiring an additional 138 shares during the last quarter. EntryPoint Capital LLC bought a new stake in shares of ResMed during the 4th quarter valued at about $347,000. ICW Investment Advisors LLC increased its position in shares of ResMed by 0.7% during the 4th quarter. ICW Investment Advisors LLC now owns 11,353 shares of the medical equipment provider's stock valued at $2,596,000 after purchasing an additional 77 shares during the last quarter. Corebridge Financial Inc. boosted its holdings in shares of ResMed by 9.5% in the fourth quarter. Corebridge Financial Inc. now owns 42,292 shares of the medical equipment provider's stock worth $9,672,000 after buying an additional 3,673 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in ResMed by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 18,173,462 shares of the medical equipment provider's stock valued at $4,156,089,000 after buying an additional 160,590 shares during the period. Hedge funds and other institutional investors own 54.98% of the company's stock.

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Insider Buying and Selling

In other news, insider Kaushik Ghoshal sold 9,745 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the transaction, the insider now directly owns 9,725 shares of the company's stock, valued at approximately $2,327,289.75. This trade represents a 50.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Peter C. Farrell sold 2,000 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $227.71, for a total value of $455,420.00. Following the completion of the sale, the director now owns 75,218 shares of the company's stock, valued at $17,127,890.78. The trade was a 2.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,940 shares of company stock valued at $9,164,385 in the last 90 days. Company insiders own 0.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on RMD shares. The Goldman Sachs Group began coverage on shares of ResMed in a research report on Thursday, January 16th. They set a "buy" rating for the company. JPMorgan Chase & Co. raised their price objective on ResMed from $270.00 to $286.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. UBS Group upgraded ResMed from a "hold" rating to a "strong-buy" rating in a research note on Friday, January 31st. Needham & Company LLC restated a "hold" rating on shares of ResMed in a research note on Friday, January 31st. Finally, StockNews.com upgraded shares of ResMed from a "hold" rating to a "buy" rating in a research report on Tuesday, March 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $249.73.

ResMed Trading Down 0.9 %

ResMed stock traded down $1.99 during midday trading on Tuesday, reaching $221.87. The stock had a trading volume of 126,842 shares, compared to its average volume of 1,000,022. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The firm has a market cap of $32.58 billion, a price-to-earnings ratio of 26.18, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. ResMed Inc. has a 52-week low of $172.19 and a 52-week high of $263.05. The company has a fifty day moving average of $233.37 and a 200 day moving average of $237.83.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, topping 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, analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend was Thursday, February 13th. ResMed's payout ratio is presently 25.03%.

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.