ResMed Inc. (NYSE:RMD) Shares Bought by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. grew its position in ResMed Inc. (NYSE:RMD - Free Report) by 6.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 64,186 shares of the medical equipment provider's stock after acquiring an additional 3,697 shares during the period. Asset Management One Co. Ltd.'s holdings in ResMed were worth $14,368,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in RMD. Global X Japan Co. Ltd. lifted its position in ResMed by 121.4% in the first quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider's stock valued at $28,000 after purchasing an additional 68 shares during the period. Colonial Trust Co SC raised its stake in shares of ResMed by 6,250.0% during the 4th quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider's stock worth $29,000 after buying an additional 125 shares in the last quarter. Optiver Holding B.V. purchased a new position in shares of ResMed during the 4th quarter worth approximately $33,000. Itau Unibanco Holding S.A. lifted its holdings in shares of ResMed by 1,000.0% in the 4th quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider's stock valued at $38,000 after buying an additional 150 shares during the period. Finally, OFI Invest Asset Management purchased a new stake in shares of ResMed in the fourth quarter valued at approximately $39,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Trading Down 0.5%

ResMed stock opened at $256.49 on Friday. The stock has a 50-day moving average price of $244.15 and a 200 day moving average price of $235.33. 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 stock has a market cap of $37.61 billion, a PE ratio of 28.79, a P/E/G ratio of 1.78 and a beta of 0.78. ResMed Inc. has a 52 week low of $186.22 and a 52 week high of $263.05.

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

ResMed Dividend Announcement

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

Insider Activity

In other news, Director Peter C. Farrell sold 2,000 shares of the business's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $219.74, for a total transaction of $439,480.00. Following the completion of the sale, the director now directly owns 73,218 shares of the company's stock, valued at $16,088,923.32. The trade was a 2.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael J. Farrell sold 8,009 shares of the company's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $251.21, for a total value of $2,011,940.89. Following the sale, the chief executive officer now owns 455,503 shares of the company's stock, valued at approximately $114,426,908.63. The trade was a 1.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,132 shares of company stock valued at $7,075,837 in the last 90 days. 0.71% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on RMD. KeyCorp set a $274.00 price objective on ResMed in a research report on Thursday, April 24th. Stifel Nicolaus lowered their price target on shares of ResMed from $250.00 to $240.00 and set a "hold" rating on the stock in a research note on Wednesday, March 5th. Mizuho set a $265.00 price target on shares of ResMed in a report on Wednesday, April 16th. UBS Group decreased their price objective on shares of ResMed from $290.00 to $285.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. upped their target price on shares of ResMed from $286.00 to $290.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, ResMed presently has a consensus rating of "Moderate Buy" and an average price target of $259.33.

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.

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