43,150 Shares in ResMed Inc. (NYSE:RMD) Bought by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. acquired a new stake in ResMed Inc. (NYSE:RMD - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 43,150 shares of the medical equipment provider's stock, valued at approximately $9,895,000.

Other large investors also recently modified their holdings of the company. Janus Henderson Group PLC increased its holdings in ResMed by 1.9% during the 3rd quarter. Janus Henderson Group PLC now owns 16,160 shares of the medical equipment provider's stock worth $3,943,000 after purchasing an additional 296 shares during the last quarter. Quarry LP boosted its stake in ResMed by 26.6% during the 3rd quarter. Quarry LP now owns 419 shares of the medical equipment provider's stock valued at $102,000 after acquiring an additional 88 shares during the last quarter. Stifel Financial Corp grew its stake in ResMed by 8.7% in the third quarter. Stifel Financial Corp now owns 57,359 shares of the medical equipment provider's stock worth $14,004,000 after purchasing an additional 4,611 shares in the last quarter. Weiss Asset Management LP bought a new position in ResMed during the 3rd quarter worth approximately $475,000. Finally, Wellington Management Group LLP grew its position in shares of ResMed by 35.7% in the 3rd quarter. Wellington Management Group LLP now owns 59,926 shares of the medical equipment provider's stock worth $14,629,000 after acquiring an additional 15,772 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Price Performance

Shares of NYSE:RMD traded up $0.43 during trading hours on Friday, hitting $210.98. 236,379 shares of the company's stock traded hands, compared to its average volume of 1,013,323. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. The company's fifty day simple moving average is $226.19 and its two-hundred day simple moving average is $235.63. ResMed Inc. has a 52 week low of $172.19 and a 52 week high of $263.05. The company has a market cap of $30.99 billion, a price-to-earnings ratio of 24.90, a price-to-earnings-growth ratio of 1.53 and a beta of 0.75.

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ResMed (NYSE:RMD - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, beating analysts' consensus estimates of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. As a group, equities analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.00%. The ex-dividend date was Thursday, February 13th. ResMed's payout ratio is 25.03%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on RMD shares. The Goldman Sachs Group assumed coverage on ResMed in a research report on Thursday, January 16th. They set a "buy" rating on the stock. Needham & Company LLC restated a "hold" rating on shares of ResMed in a research report on Friday, January 31st. StockNews.com downgraded shares of ResMed from a "buy" rating to a "hold" rating in a research report on Wednesday, April 2nd. Morgan Stanley initiated coverage on ResMed in a research note on Wednesday, March 19th. They issued an "overweight" rating and a $280.00 target price for the company. Finally, KeyCorp increased their price target on ResMed from $266.00 to $280.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, ResMed currently has an average rating of "Moderate Buy" and a consensus price target of $249.73.

Insider Buying and Selling at ResMed

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the company's stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $236.77, for a total value of $1,896,290.93. Following the transaction, the chief executive officer now directly owns 455,472 shares of the company's stock, valued at $107,842,105.44. This represents a 1.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total value of $484,220.00. Following the sale, the director now owns 77,218 shares of the company's stock, valued at approximately $18,695,249.98. This represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 49,013 shares of company stock valued at $11,298,816 in the last three months. 0.71% of the stock is currently owned by company insiders.

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.