Mitsubishi UFJ Trust & Banking Corp Buys 23,250 Shares of ResMed Inc. (NYSE:RMD)

Mitsubishi UFJ Trust & Banking Corp increased its stake in ResMed Inc. (NYSE:RMD) by 26.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 111,451 shares of the medical equipment provider’s stock after purchasing an additional 23,250 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.08% of ResMed worth $25,488,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Thrivent Financial for Lutherans increased its position in ResMed by 12.2% in the third quarter. Thrivent Financial for Lutherans now owns 6,952 shares of the medical equipment provider’s stock worth $1,697,000 after buying an additional 755 shares during the last quarter. Intech Investment Management LLC purchased a new stake in ResMed in the 3rd quarter worth about $244,000. Cerity Partners LLC raised its stake in ResMed by 82.0% in the 3rd quarter. Cerity Partners LLC now owns 13,686 shares of the medical equipment provider’s stock valued at $3,341,000 after acquiring an additional 6,167 shares during the period. Summit Trail Advisors LLC lifted its holdings in ResMed by 15.6% during the third quarter. Summit Trail Advisors LLC now owns 1,497 shares of the medical equipment provider’s stock valued at $365,000 after purchasing an additional 202 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its position in ResMed by 6.2% during the third quarter. Fisher Asset Management LLC now owns 26,727 shares of the medical equipment provider’s stock worth $6,525,000 after purchasing an additional 1,563 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Stock Up 0.3 %

Shares of NYSE:RMD opened at $222.62 on Friday. The firm has a market capitalization of $32.69 billion, a PE ratio of 26.28, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. ResMed Inc. has a 52-week low of $172.19 and a 52-week high of $263.05. The firm has a fifty day moving average of $234.10 and a 200 day moving average of $238.43.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. As a group, research analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were issued a $0.53 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.95%. ResMed’s payout ratio is 25.03%.

Insider Activity at ResMed

In related news, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the completion of the sale, the chief executive officer now directly owns 455,472 shares in the company, valued at $107,842,105.44. This represents a 1.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total value of $484,220.00. Following the completion of the transaction, the director now directly owns 77,218 shares in the company, valued at $18,695,249.98. This trade represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,940 shares of company stock valued at $9,164,385. Insiders own 0.71% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on RMD shares. KeyCorp boosted their price target on shares of ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Morgan Stanley initiated coverage on shares of ResMed in a report on Wednesday, March 19th. They set an “overweight” rating and a $280.00 target price on the stock. Citigroup raised ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday, March 5th. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research note on Friday, January 31st. Finally, Stifel Nicolaus dropped their price objective on ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $249.73.

About ResMed

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.