Mitsubishi UFJ Asset Management Co. Ltd. Buys 35,273 Shares of ResMed Inc. (NYSE:RMD)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of ResMed Inc. (NYSE:RMD - Free Report) by 24.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 177,083 shares of the medical equipment provider's stock after purchasing an additional 35,273 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.12% of ResMed worth $35,068,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Atlantic Edge Private Wealth Management LLC bought a new position in shares of ResMed during the 4th quarter worth about $27,000. Hall Laurie J Trustee acquired a new stake in shares of ResMed in the 1st quarter worth about $32,000. BOK Financial Private Wealth Inc. acquired a new stake in shares of ResMed in the 1st quarter worth about $35,000. Planned Solutions Inc. acquired a new stake in shares of ResMed in the 4th quarter worth about $34,000. Finally, Riverview Trust Co acquired a new stake in shares of ResMed in the 1st quarter worth about $42,000. Institutional investors own 54.98% of the company's stock.

Insider Activity

In related news, CEO Michael J. Farrell sold 14,683 shares of ResMed stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $216.50, for a total value of $3,178,869.50. Following the transaction, the chief executive officer now owns 440,752 shares in the company, valued at approximately $95,422,808. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Witte Jan De sold 360 shares of ResMed stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $218.29, for a total value of $78,584.40. Following the transaction, the director now owns 7,519 shares in the company, valued at approximately $1,641,322.51. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael J. Farrell sold 14,683 shares of the business's stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $216.50, for a total transaction of $3,178,869.50. Following the completion of the transaction, the chief executive officer now owns 440,752 shares in the company, valued at approximately $95,422,808. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,834 shares of company stock worth $9,694,137. 1.21% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on RMD shares. Needham & Company LLC restated a "buy" rating and issued a $236.00 target price on shares of ResMed in a report on Monday, June 24th. Oppenheimer lowered shares of ResMed from an "outperform" rating to a "market perform" rating in a report on Tuesday, June 25th. Citigroup lowered shares of ResMed from a "buy" rating to a "neutral" rating in a report on Monday, June 24th. KeyCorp increased their price objective on shares of ResMed from $227.00 to $238.00 and gave the company an "overweight" rating in a research note on Friday, April 26th. Finally, Mizuho reiterated a "buy" rating and issued a $215.00 price objective on shares of ResMed in a research note on Wednesday, March 27th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $202.80.

ResMed Stock Performance

RMD traded down $0.62 on Friday, hitting $203.26. The company's stock had a trading volume of 715,019 shares, compared to its average volume of 1,049,823. The company's 50 day simple moving average is $205.43 and its 200-day simple moving average is $193.71. The firm has a market cap of $29.86 billion, a P/E ratio of 31.22, a price-to-earnings-growth ratio of 1.77 and a beta of 0.66. ResMed Inc. has a 12 month low of $132.24 and a 12 month high of $229.97. The company has a quick ratio of 1.97, a current ratio of 3.04 and a debt-to-equity ratio of 0.22.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 EPS for the quarter, beating the consensus estimate of $1.91 by $0.22. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.17 billion. ResMed had a net margin of 20.91% and a return on equity of 24.43%. The business's quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the firm earned $1.68 EPS. Analysts forecast that ResMed Inc. will post 7.7 EPS for the current year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 9th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 0.94%. The ex-dividend date was Wednesday, May 8th. ResMed's dividend payout ratio (DPR) is currently 29.49%.

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.