Resona Asset Management Co. Ltd. Has $12.82 Million Holdings in ResMed Inc. $RMD

Resona Asset Management Co. Ltd. lessened its position in shares of ResMed Inc. (NYSE:RMD) by 4.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,914 shares of the medical equipment provider’s stock after selling 2,217 shares during the period. Resona Asset Management Co. Ltd.’s holdings in ResMed were worth $12,822,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Entropy Technologies LP increased its holdings in ResMed by 188.7% in the second quarter. Entropy Technologies LP now owns 16,384 shares of the medical equipment provider’s stock worth $4,227,000 after purchasing an additional 10,708 shares in the last quarter. Quantbot Technologies LP boosted its holdings in shares of ResMed by 244.8% during the 2nd quarter. Quantbot Technologies LP now owns 36,355 shares of the medical equipment provider’s stock worth $9,380,000 after buying an additional 25,810 shares in the last quarter. Nordea Investment Management AB grew its position in shares of ResMed by 3.5% during the 3rd quarter. Nordea Investment Management AB now owns 790,872 shares of the medical equipment provider’s stock worth $217,387,000 after buying an additional 26,629 shares during the period. American Century Companies Inc. lifted its position in shares of ResMed by 0.7% during the 2nd quarter. American Century Companies Inc. now owns 175,901 shares of the medical equipment provider’s stock valued at $45,382,000 after acquiring an additional 1,183 shares during the period. Finally, Swedbank AB lifted its position in shares of ResMed by 25.4% during the 3rd quarter. Swedbank AB now owns 542,711 shares of the medical equipment provider’s stock valued at $148,556,000 after acquiring an additional 109,760 shares during the period. Institutional investors own 54.98% of the company’s stock.

ResMed Trading Down 1.1%

NYSE:RMD opened at $252.44 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.89 and a quick ratio of 2.13. The firm has a 50-day moving average of $249.96 and a 200-day moving average of $263.28. The company has a market cap of $36.84 billion, a PE ratio of 25.84, a PEG ratio of 1.70 and a beta of 0.88. ResMed Inc. has a one year low of $199.92 and a one year high of $293.81.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.06. The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.33 billion. ResMed had a net margin of 27.35% and a return on equity of 25.45%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.20 EPS. As a group, equities research analysts expect that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, November 13th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $2.40 annualized dividend and a dividend yield of 1.0%. ResMed’s payout ratio is presently 24.56%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. KeyCorp raised their price target on shares of ResMed from $298.00 to $299.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. Weiss Ratings reissued a “hold (c+)” rating on shares of ResMed in a research report on Monday, December 29th. Mizuho reduced their target price on ResMed from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, October 31st. Morgan Stanley set a $305.00 price target on ResMed in a research note on Friday, October 31st. Finally, Wells Fargo & Company started coverage on ResMed in a report on Monday, October 13th. They issued an “equal weight” rating and a $280.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $296.09.

Insider Buying and Selling

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $248.83, for a total transaction of $497,660.00. Following the transaction, the director directly owned 66,773 shares of the company’s stock, valued at $16,615,125.59. The trade was a 2.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Witte Jan De sold 2,055 shares of the stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $255.00, for a total transaction of $524,025.00. Following the completion of the sale, the director owned 4,261 shares of the company’s stock, valued at approximately $1,086,555. This represents a 32.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 21,594 shares of company stock worth $5,403,495. 0.65% of the stock is owned by corporate insiders.

About ResMed

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.