Mitsubishi UFJ Asset Management Co. Ltd. Buys 21,465 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 10.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 236,961 shares of the medical equipment provider's stock after acquiring an additional 21,465 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.16% of ResMed worth $54,897,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. True Wealth Design LLC grew its holdings in shares of ResMed by 2,200.0% in the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider's stock valued at $28,000 after acquiring an additional 110 shares in the last quarter. OFI Invest Asset Management bought a new stake in ResMed during the fourth quarter worth $39,000. BankPlus Trust Department bought a new position in shares of ResMed in the 4th quarter valued at about $44,000. Rosenberg Matthew Hamilton bought a new stake in shares of ResMed in the 4th quarter valued at about $54,000. Finally, SBI Securities Co. Ltd. acquired a new stake in ResMed in the 4th quarter valued at about $67,000. Institutional investors and hedge funds own 54.98% of the company's stock.

ResMed Trading Down 1.1 %

Shares of RMD traded down $2.36 during mid-day trading on Tuesday, reaching $221.50. The company's stock had a trading volume of 318,803 shares, compared to its average volume of 1,000,787. The stock has a market cap of $32.53 billion, a PE ratio of 26.15, a P/E/G ratio of 1.53 and a beta of 0.74. The company's fifty day moving average price is $233.37 and its two-hundred day moving average price is $237.83. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 52 week low of $172.19 and a 52 week high of $263.05.

Remove Ads

ResMed (NYSE:RMD - Get Free Report) last released its quarterly earnings data 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 predict that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

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

Analysts Set New Price Targets

RMD has been the subject of a number of research analyst reports. JPMorgan Chase & Co. boosted their price objective on ResMed from $270.00 to $286.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Citigroup upgraded shares of ResMed from a "neutral" rating to a "buy" rating in a research note on Wednesday, March 5th. Needham & Company LLC reissued a "hold" rating on shares of ResMed in a report on Friday, January 31st. Morgan Stanley initiated coverage on shares of ResMed in a research note on Wednesday, March 19th. They issued an "overweight" rating and a $280.00 price objective for the company. Finally, StockNews.com upgraded ResMed from a "hold" rating to a "buy" rating in a report on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $249.73.

Insider Activity at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total transaction of $484,220.00. Following the transaction, the director now owns 77,218 shares of the company's stock, valued at $18,695,249.98. The trade was a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kaushik Ghoshal sold 9,113 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $235.40, for a total value of $2,145,200.20. Following the completion of the sale, the insider now owns 9,725 shares of the company's stock, valued at $2,289,265. The trade was a 48.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,940 shares of company stock valued at $9,164,385 over the last 90 days. Corporate insiders own 0.71% of the company's stock.

About ResMed

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.