Meiji Yasuda Asset Management Co Ltd. Acquires 138 Shares of ResMed Inc. (NYSE:RMD)

Meiji Yasuda Asset Management Co Ltd. lifted its holdings in ResMed Inc. (NYSE:RMD) by 5.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,903 shares of the medical equipment provider’s stock after buying an additional 138 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in ResMed were worth $664,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in RMD. First Horizon Advisors Inc. increased its stake in ResMed by 285.1% during the fourth quarter. First Horizon Advisors Inc. now owns 593 shares of the medical equipment provider’s stock worth $136,000 after acquiring an additional 439 shares during the last quarter. Peak Financial Advisors LLC bought a new position in shares of ResMed during the 4th quarter valued at approximately $2,972,000. Principal Financial Group Inc. increased its position in shares of ResMed by 2.9% during the 3rd quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider’s stock valued at $45,596,000 after purchasing an additional 5,284 shares during the last quarter. Spire Wealth Management raised its holdings in ResMed by 11.3% during the 4th 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 period. Finally, Asset Management One Co. Ltd. boosted its stake in ResMed by 2.8% during the fourth quarter. Asset Management One Co. Ltd. now owns 60,489 shares of the medical equipment provider’s stock worth $14,105,000 after buying an additional 1,629 shares during the period. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

ResMed Stock Up 0.3 %

Shares of ResMed stock opened at $222.62 on Friday. ResMed Inc. has a 1 year low of $172.19 and a 1 year high of $263.05. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The stock has a market cap of $32.69 billion, a price-to-earnings ratio of 26.28, a PEG ratio of 1.53 and a beta of 0.74. The firm’s 50-day moving average is $234.10 and its two-hundred day moving average is $238.43.

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

ResMed Dividend Announcement

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

Insider Buying and Selling

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were 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 approximately $18,695,249.98. The trade was a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Kaushik Ghoshal sold 9,745 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the sale, the insider now directly owns 9,725 shares of the company’s stock, valued at approximately $2,327,289.75. The trade was a 50.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,940 shares of company stock worth $9,164,385 in the last three months. 0.71% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on RMD shares. Piper Sandler raised their target price on shares of ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday. Morgan Stanley began coverage on ResMed in a report on Wednesday, March 19th. They issued an “overweight” rating and a $280.00 price target on the stock. Citigroup raised ResMed from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. increased their target price on ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. 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 two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $249.73.

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.