ResMed Inc. (NYSE:RMD) Shares Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. raised its position in shares of ResMed Inc. (NYSE:RMD - Free Report) by 9.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 365,190 shares of the medical equipment provider's stock after acquiring an additional 32,994 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.25% of ResMed worth $81,748,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Exchange Traded Concepts LLC boosted its stake in ResMed by 393.0% during the 1st quarter. Exchange Traded Concepts LLC now owns 2,529 shares of the medical equipment provider's stock worth $566,000 after purchasing an additional 2,016 shares during the last quarter. IFP Advisors Inc lifted its stake in shares of ResMed by 37.1% in the fourth quarter. IFP Advisors Inc now owns 373 shares of the medical equipment provider's stock worth $85,000 after buying an additional 101 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in shares of ResMed by 38.3% in the fourth quarter. Jones Financial Companies Lllp now owns 1,888 shares of the medical equipment provider's stock worth $432,000 after buying an additional 523 shares in the last quarter. Atria Investments Inc boosted its position in ResMed by 21.5% during the fourth quarter. Atria Investments Inc now owns 2,106 shares of the medical equipment provider's stock worth $482,000 after acquiring an additional 372 shares during the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in ResMed during the 4th quarter valued at about $347,000. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Trading Up 0.4%

RMD traded up $0.98 on Thursday, hitting $256.86. The company had a trading volume of 391,763 shares, compared to its average volume of 967,486. The company's fifty day moving average price is $247.59 and its 200 day moving average price is $235.70. ResMed Inc. has a 1 year low of $188.06 and a 1 year high of $263.05. The company has a current ratio of 3.41, a quick ratio of 2.49 and a debt-to-equity ratio of 0.12. The firm has a market cap of $37.66 billion, a P/E ratio of 28.83, a PEG ratio of 1.60 and a beta of 0.77.

ResMed (NYSE:RMD - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.36 by $0.01. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. ResMed had a net margin of 26.15% and a return on equity of 25.67%. The business's revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.13 EPS. As a group, equities analysts expect that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Thursday, May 8th were paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date was Thursday, May 8th. ResMed's dividend payout ratio (DPR) is 23.79%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. UBS Group decreased their target price on shares of ResMed from $290.00 to $285.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. KeyCorp set a $274.00 price target on ResMed in a report on Thursday, April 24th. Mizuho set a $265.00 price objective on ResMed in a research note on Wednesday, April 16th. Royal Bank Of Canada upped their target price on ResMed from $247.00 to $255.00 and gave the company a "sector perform" rating in a report on Thursday, April 24th. Finally, Wall Street Zen downgraded ResMed from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $259.33.

Insider Transactions at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the business's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $242.25, for a total transaction of $484,500.00. Following the sale, the director directly owned 71,218 shares in the company, valued at $17,252,560.50. This represents a 2.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $209.85, for a total transaction of $1,680,688.65. Following the sale, the chief executive officer directly owned 455,472 shares in the company, valued at $95,580,799.20. This represents a 1.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,013 shares of company stock worth $6,863,532 over the last ninety days. Company insiders own 0.71% of the company's stock.

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.