Sumitomo Mitsui Trust Group Inc. Has $75.97 Million Position in ResMed Inc. (NYSE:RMD)

Sumitomo Mitsui Trust Group Inc. cut its holdings in ResMed Inc. (NYSE:RMD - Free Report) by 3.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 332,196 shares of the medical equipment provider's stock after selling 13,346 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.23% of ResMed worth $75,970,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Ascent Group LLC increased its position in ResMed by 1.7% in the 3rd quarter. Ascent Group LLC now owns 2,924 shares of the medical equipment provider's stock worth $714,000 after buying an additional 48 shares during the period. SkyView Investment Advisors LLC grew its stake in shares of ResMed by 2.0% in the third quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider's stock worth $637,000 after acquiring an additional 51 shares during the last quarter. Wedmont Private Capital boosted its holdings in ResMed by 2.6% in the 4th quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider's stock valued at $475,000 after purchasing an additional 52 shares during the period. Concurrent Investment Advisors LLC grew its position in ResMed by 3.1% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 1,919 shares of the medical equipment provider's stock worth $469,000 after purchasing an additional 57 shares during the last quarter. Finally, Moss Adams Wealth Advisors LLC increased its holdings in shares of ResMed by 2.0% during the 3rd quarter. Moss Adams Wealth Advisors LLC now owns 3,043 shares of the medical equipment provider's stock worth $743,000 after purchasing an additional 60 shares during the period. Institutional investors and hedge funds own 54.98% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. KeyCorp lifted their target price on ResMed from $266.00 to $280.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Needham & Company LLC reissued a "hold" rating on shares of ResMed in a report 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. JPMorgan Chase & Co. raised their target price on ResMed from $270.00 to $286.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Finally, Piper Sandler boosted their price target on shares of ResMed from $252.00 to $260.00 and gave the company a "neutral" rating in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $244.73.

Insider Transactions at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the company's stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $245.65, for a total transaction of $491,300.00. Following the transaction, the director now owns 81,218 shares of the company's stock, valued at approximately $19,951,201.70. This represents a 2.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Justin Leong sold 6,160 shares of ResMed stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $243.09, for a total value of $1,497,434.40. Following the completion of the sale, the insider now directly owns 21,718 shares of the company's stock, valued at $5,279,428.62. This trade represents a 22.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,307 shares of company stock worth $4,403,180. Insiders own 0.71% of the company's stock.

ResMed Price Performance

RMD stock traded up $2.79 during trading on Thursday, hitting $239.39. 696,263 shares of the stock traded hands, compared to its average volume of 976,906. The stock has a market cap of $35.16 billion, a price-to-earnings ratio of 28.26, a P/E/G ratio of 1.57 and a beta of 0.70. ResMed Inc. has a one year low of $170.56 and a one year high of $263.05. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The company has a 50 day simple moving average of $238.68 and a 200 day simple moving average of $238.29.

ResMed (NYSE:RMD - Get Free Report) last posted its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. Equities analysts expect that ResMed Inc. will post 9.44 EPS for the current fiscal year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Thursday, February 13th. ResMed's dividend payout ratio is currently 25.03%.

ResMed Company 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.