Norinchukin Bank The Has $24.68 Million Stock Position in ResMed Inc. (NYSE:RMD)

Norinchukin Bank The increased its holdings in shares of ResMed Inc. (NYSE:RMD - Free Report) by 10.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 107,915 shares of the medical equipment provider's stock after purchasing an additional 10,313 shares during the quarter. Norinchukin Bank The owned 0.07% of ResMed worth $24,679,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Invesco Ltd. lifted its position in shares of ResMed by 32.2% in the fourth quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider's stock worth $531,706,000 after purchasing an additional 566,046 shares in the last quarter. Norges Bank bought a new stake in ResMed during the 4th quarter worth about $118,605,000. Los Angeles Capital Management LLC lifted its position in ResMed by 60.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 668,908 shares of the medical equipment provider's stock worth $152,973,000 after buying an additional 250,746 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of ResMed during the 4th quarter worth about $50,364,000. Finally, Nordea Investment Management AB grew its holdings in shares of ResMed by 92.7% in the 4th quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider's stock valued at $103,214,000 after acquiring an additional 215,561 shares in the last quarter. Institutional investors own 54.98% of the company's stock.

ResMed Stock Performance

NYSE RMD traded up $0.72 on Wednesday, reaching $214.80. The stock had a trading volume of 1,690,538 shares, compared to its average volume of 1,025,857. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The company has a market cap of $31.55 billion, a P/E ratio of 25.36, a price-to-earnings-growth ratio of 1.53 and a beta of 0.75. The firm has a fifty day moving average of $222.11 and a two-hundred day moving average of $234.16. ResMed Inc. has a 1-year low of $179.00 and a 1-year high of $263.05.

ResMed (NYSE:RMD - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, hitting analysts' consensus estimates of $2.37. ResMed had a net margin of 25.34% and a return on equity of 26.17%. On average, equities research analysts anticipate that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The business 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 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend was Thursday, February 13th. ResMed's dividend payout ratio (DPR) is currently 25.03%.

Analyst Ratings Changes

Several research analysts recently commented on RMD shares. Mizuho set a $265.00 price target on ResMed in a research report on Wednesday, April 16th. Stifel Nicolaus dropped their price target on shares of ResMed from $250.00 to $240.00 and set a "hold" rating on the stock in a research report on Wednesday, March 5th. UBS Group upgraded shares of ResMed from a "hold" rating to a "strong-buy" rating in a research note 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. Finally, Needham & Company LLC reiterated a "hold" rating on shares of ResMed in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, ResMed currently has a consensus rating of "Moderate Buy" and an average target price of $250.08.

Insiders Place Their Bets

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total value of $484,220.00. Following the transaction, the director now owns 77,218 shares in the company, valued at $18,695,249.98. The trade was a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kaushik Ghoshal sold 9,113 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the completion of the sale, the insider now owns 9,725 shares in the company, valued at $2,289,265. This represents a 48.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,013 shares of company stock worth $11,298,816 in the last 90 days. Company 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.