ResMed Inc. $RMD Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp trimmed its position in ResMed Inc. (NYSE:RMD) by 3.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 73,779 shares of the medical equipment provider’s stock after selling 2,805 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in ResMed were worth $20,196,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Johnson Investment Counsel Inc. raised its position in shares of ResMed by 2.8% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 1,665 shares of the medical equipment provider’s stock valued at $430,000 after buying an additional 45 shares during the period. Quadcap Wealth Management LLC increased its stake in ResMed by 2.5% during the second quarter. Quadcap Wealth Management LLC now owns 1,880 shares of the medical equipment provider’s stock worth $485,000 after acquiring an additional 45 shares during the last quarter. NBT Bank N A NY raised its position in ResMed by 22.9% in the third quarter. NBT Bank N A NY now owns 252 shares of the medical equipment provider’s stock valued at $69,000 after purchasing an additional 47 shares during the period. OFI Invest Asset Management lifted its stake in shares of ResMed by 10.4% in the 3rd quarter. OFI Invest Asset Management now owns 509 shares of the medical equipment provider’s stock valued at $139,000 after purchasing an additional 48 shares during the last quarter. Finally, V Square Quantitative Management LLC grew its holdings in shares of ResMed by 3.0% during the 2nd quarter. V Square Quantitative Management LLC now owns 1,747 shares of the medical equipment provider’s stock worth $451,000 after purchasing an additional 51 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Trading Up 1.2%

Shares of RMD stock opened at $255.46 on Tuesday. ResMed Inc. has a fifty-two week low of $199.92 and a fifty-two week high of $293.81. The company has a 50 day moving average price of $250.17 and a 200 day moving average price of $263.26. The stock has a market capitalization of $37.28 billion, a P/E ratio of 26.15, a price-to-earnings-growth ratio of 1.70 and a beta of 0.88. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.13 and a current ratio of 2.89.

ResMed (NYSE:RMD) last released its earnings results on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.06. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.33 billion. ResMed had a net margin of 27.35% and a return on equity of 25.45%. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.20 EPS. Equities research analysts predict that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, November 13th were issued a $0.60 dividend. The ex-dividend date was Thursday, November 13th. This represents a $2.40 dividend on an annualized basis and a yield of 0.9%. ResMed’s dividend payout ratio (DPR) is 24.56%.

Insider Buying and Selling

In other news, Director Witte Jan De sold 2,055 shares of ResMed stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $255.00, for a total value of $524,025.00. Following the completion of the transaction, the director owned 4,261 shares in the company, valued at approximately $1,086,555. This trade represents a 32.54% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael J. Farrell sold 8,011 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $249.75, for a total value of $2,000,747.25. Following the transaction, the chief executive officer directly owned 467,866 shares of the company’s stock, valued at approximately $116,849,533.50. This represents a 1.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 21,594 shares of company stock valued at $5,403,495 in the last three months. 0.65% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on RMD. Wells Fargo & Company assumed coverage on shares of ResMed in a report on Monday, October 13th. They issued an “equal weight” rating and a $280.00 price objective on the stock. UBS Group reiterated a “buy” rating and set a $345.00 price target on shares of ResMed in a research report on Friday, December 12th. KeyCorp upped their price objective on shares of ResMed from $298.00 to $299.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. Stifel Nicolaus lowered their price objective on shares of ResMed from $270.00 to $260.00 and set a “hold” rating for the company in a research report on Thursday, December 18th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $275.00 target price (down previously from $300.00) on shares of ResMed in a research report on Tuesday, December 16th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, ResMed presently has a consensus rating of “Moderate Buy” and a consensus price target of $296.09.

ResMed Company Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.