Sumitomo Mitsui Trust Group Inc. Sells 19,932 Shares of ResMed Inc. $RMD

Sumitomo Mitsui Trust Group Inc. reduced its stake in shares of ResMed Inc. (NYSE:RMD) by 5.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 345,620 shares of the medical equipment provider’s stock after selling 19,932 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.24% of ResMed worth $77,585,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Terra Nova Asset Management LLC increased its position in shares of ResMed by 0.6% during the 3rd quarter. Terra Nova Asset Management LLC now owns 7,805 shares of the medical equipment provider’s stock valued at $2,136,000 after purchasing an additional 46 shares during the last quarter. Occidental Asset Management LLC boosted its stake in ResMed by 3.0% during the fourth quarter. Occidental Asset Management LLC now owns 1,699 shares of the medical equipment provider’s stock worth $409,000 after buying an additional 49 shares during the period. Kera Capital Partners Inc. increased its position in ResMed by 6.6% during the fourth quarter. Kera Capital Partners Inc. now owns 841 shares of the medical equipment provider’s stock valued at $217,000 after acquiring an additional 52 shares during the last quarter. Andina Capital Management LLC raised its stake in shares of ResMed by 2.9% in the fourth quarter. Andina Capital Management LLC now owns 1,988 shares of the medical equipment provider’s stock valued at $479,000 after acquiring an additional 56 shares during the period. Finally, Wedmont Private Capital lifted its holdings in shares of ResMed by 2.7% in the 4th quarter. Wedmont Private Capital now owns 2,183 shares of the medical equipment provider’s stock worth $542,000 after acquiring an additional 57 shares during the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other ResMed news, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $218.55, for a total transaction of $1,090,783.05. Following the completion of the sale, the chief executive officer directly owned 466,223 shares of the company’s stock, valued at approximately $101,893,036.65. This represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 14,973 shares of company stock valued at $3,096,067 in the last ninety days. Insiders own 0.65% of the company’s stock.

Key Stories Impacting ResMed

Here are the key news stories impacting ResMed this week:

• Positive Sentiment: ResMed’s sale of MatrixCare should simplify the portfolio, increase focus on higher-growth core franchises, and potentially improve capital allocation. Resmed Divests MatrixCare Business to Sharpen Focus on Connected Care
• Positive Sentiment: Analyst commentary has described the transaction as a “portfolio reset,” which suggests the market may view the move as strategically constructive for long-term growth. ResMed (RMD) Sells MatrixCare To Refocus On Sleep And Respiratory Health
• Positive Sentiment: Brokerage coverage remained supportive, with multiple firms reiterating buy-type ratings, reinforcing confidence in ResMed’s core business despite the divestiture. Resmed Inc CHESS Depositary Interests … Gets a Buy from Morgans
• Neutral Sentiment: Unusually large put-option activity suggests some traders are hedging or betting on downside, but it does not confirm a change in the company’s fundamentals.
• Neutral Sentiment: CEO Michael Farrell’s recent stock sale was made under a pre-arranged 10b5-1 plan, making it more routine than a clear bearish signal, though insider selling can still weigh on sentiment. Insider Selling: ResMed (NYSE:RMD) CEO Sells $1,090,783.05 in Stock

ResMed Trading Down 2.1%

NYSE:RMD traded down $4.28 during midday trading on Friday, hitting $204.17. The stock had a trading volume of 1,331,127 shares, compared to its average volume of 1,566,866. The stock has a 50-day moving average of $200.46 and a 200 day moving average of $228.27. The company has a market capitalization of $29.62 billion, a price-to-earnings ratio of 19.69, a PEG ratio of 1.22 and a beta of 0.78. ResMed Inc. has a one year low of $180.26 and a one year high of $293.81. The company has a quick ratio of 2.33, a current ratio of 3.01 and a debt-to-equity ratio of 0.06.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.79 by $0.07. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.42 billion. ResMed had a return on equity of 25.35% and a net margin of 27.44%.The business’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.37 EPS. As a group, sell-side analysts forecast that ResMed Inc. will post 11.13 EPS for the current year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Thursday, May 14th were issued a $0.60 dividend. The ex-dividend date was Thursday, May 14th. This represents a $2.40 dividend on an annualized basis and a yield of 1.2%. ResMed’s payout ratio is currently 23.14%.

Analysts Set New Price Targets

Several equities analysts recently commented on RMD shares. Robert W. Baird set a $225.00 price target on shares of ResMed in a report on Friday, May 1st. Evercore set a $255.00 target price on ResMed and gave the company an “outperform” rating in a research note on Monday, April 13th. JPMorgan Chase & Co. assumed coverage on ResMed in a research note on Wednesday, April 15th. They set an “overweight” rating for the company. KeyCorp cut their price objective on ResMed from $290.00 to $266.00 and set an “overweight” rating on the stock in a research report on Monday, June 22nd. Finally, Wall Street Zen downgraded ResMed from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, ResMed presently has a consensus rating of “Moderate Buy” and a consensus target price of $263.08.

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.