Mufg Securities Americas Inc. Purchases New Holdings in ResMed Inc. (NYSE:RMD)

Mufg Securities Americas Inc. bought a new stake in shares of ResMed Inc. (NYSE:RMD - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,167 shares of the medical equipment provider's stock, valued at approximately $496,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RMD. First Horizon Advisors Inc. raised its position in ResMed by 285.1% in the fourth quarter. First Horizon Advisors Inc. now owns 593 shares of the medical equipment provider's stock valued at $136,000 after purchasing an additional 439 shares during the period. Spire Wealth Management raised its holdings in shares of ResMed by 11.3% in the fourth quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider's stock valued at $2,470,000 after buying an additional 1,100 shares during the last quarter. Asset Management One Co. Ltd. lifted its position in ResMed by 2.8% in the fourth quarter. Asset Management One Co. Ltd. now owns 60,489 shares of the medical equipment provider's stock valued at $14,105,000 after purchasing an additional 1,629 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in ResMed by 38.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,830 shares of the medical equipment provider's stock valued at $2,989,000 after buying an additional 3,576 shares in the last quarter. Finally, Cumberland Partners Ltd increased its stake in shares of ResMed by 550.0% during the 4th quarter. Cumberland Partners Ltd now owns 13,000 shares of the medical equipment provider's stock worth $2,973,000 after purchasing an additional 11,000 shares in the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RMD. Needham & Company LLC restated a "hold" rating on shares of ResMed in a research note on Friday, January 31st. Royal Bank of Canada upped their target price on ResMed from $247.00 to $255.00 and gave the stock a "sector perform" rating in a research report on Thursday, April 24th. KeyCorp set a $274.00 price target on ResMed in a report on Thursday, April 24th. UBS Group reduced their price target on ResMed from $290.00 to $285.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Finally, Stifel Nicolaus lowered their price target on ResMed from $250.00 to $240.00 and set a "hold" rating on the stock in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $258.83.

Insider Activity at ResMed

In other news, insider Kaushik Ghoshal sold 9,113 shares of ResMed stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $235.40, for a total value of $2,145,200.20. Following the transaction, the insider now directly owns 9,725 shares of the company's stock, valued at $2,289,265. The trade was a 48.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $227.71, for a total value of $455,420.00. Following the transaction, the director now directly owns 75,218 shares in the company, valued at approximately $17,127,890.78. This represents a 2.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,949 shares of company stock worth $11,335,320 in the last quarter. Company insiders own 0.71% of the company's stock.

ResMed Trading Up 0.5%

Shares of RMD stock traded up $1.27 on Monday, reaching $252.96. 658,661 shares of the company's stock were exchanged, compared to its average volume of 1,017,810. 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's fifty day simple moving average is $225.34 and its 200 day simple moving average is $234.11. The stock has a market capitalization of $37.09 billion, a PE ratio of 29.87, a P/E/G ratio of 1.53 and a beta of 0.78. ResMed Inc. has a 52 week low of $179.42 and a 52 week high of $263.05.

ResMed (NYSE:RMD - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, topping analysts' consensus estimates of $2.36 by $0.01. ResMed had a return on equity of 26.17% and a net margin of 25.34%. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the business earned $2.13 earnings per share. The company's revenue was up 7.9% compared to the same quarter last year. As a group, analysts forecast that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 8th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.84%. The ex-dividend date is Thursday, May 8th. ResMed's dividend payout ratio (DPR) is presently 23.79%.

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.