Mitsubishi UFJ Trust & Banking Corp Has $19.76 Million Stake in ResMed Inc. $RMD

Mitsubishi UFJ Trust & Banking Corp cut its position in shares of ResMed Inc. (NYSE:RMD) by 31.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 76,584 shares of the medical equipment provider’s stock after selling 34,713 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in ResMed were worth $19,759,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Zions Bancorporation National Association UT bought a new stake in ResMed during the first quarter valued at $45,000. Groupe la Francaise bought a new position in shares of ResMed in the 1st quarter worth about $45,000. Harbour Investments Inc. lifted its stake in shares of ResMed by 264.2% in the 2nd quarter. Harbour Investments Inc. now owns 244 shares of the medical equipment provider’s stock valued at $63,000 after purchasing an additional 177 shares during the period. Larson Financial Group LLC boosted its position in shares of ResMed by 926.7% during the 1st quarter. Larson Financial Group LLC now owns 308 shares of the medical equipment provider’s stock valued at $69,000 after purchasing an additional 278 shares in the last quarter. Finally, Quarry LP grew its stake in ResMed by 141.1% during the first quarter. Quarry LP now owns 311 shares of the medical equipment provider’s stock worth $70,000 after purchasing an additional 182 shares during the period. Institutional investors own 54.98% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on RMD shares. Royal Bank Of Canada boosted their price target on ResMed from $300.00 to $303.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. Wall Street Zen lowered shares of ResMed from a “buy” rating to a “hold” rating in a research note on Sunday, August 10th. Wells Fargo & Company initiated coverage on shares of ResMed in a report on Monday, October 13th. They issued an “equal weight” rating and a $280.00 price target for the company. Stifel Nicolaus upped their price objective on shares of ResMed from $240.00 to $270.00 and gave the company a “hold” rating in a report on Friday, August 1st. Finally, William Blair upgraded ResMed to a “strong-buy” rating in a research note on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $297.45.

ResMed Stock Down 2.9%

ResMed stock opened at $244.74 on Friday. The firm has a market capitalization of $35.72 billion, a price-to-earnings ratio of 25.73, a price-to-earnings-growth ratio of 1.75 and a beta of 0.87. The firm’s fifty day moving average price is $266.27 and its two-hundred day moving average price is $262.80. ResMed Inc. has a 1-year low of $199.92 and a 1-year high of $293.81. The company has a current ratio of 3.44, a quick ratio of 2.53 and a debt-to-equity ratio of 0.11.

ResMed (NYSE:RMD) last posted its earnings results on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.06. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the prior year, the business posted $2.20 EPS. The firm’s revenue was up 9.1% compared to the same quarter last year. On average, equities research analysts predict that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, November 13th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Thursday, November 13th. ResMed’s dividend payout ratio (DPR) is presently 24.56%.

Insider Transactions at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $252.05, for a total value of $504,100.00. Following the completion of the sale, the director owned 66,110 shares of the company’s stock, valued at approximately $16,663,025.50. This trade represents a 2.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael J. Farrell sold 8,011 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $249.75, for a total transaction of $2,000,747.25. Following the sale, the chief executive officer directly owned 467,866 shares in the company, valued at $116,849,533.50. The trade was a 1.68% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 21,182 shares of company stock worth $5,658,783. 0.65% of the stock is owned by insiders.

ResMed 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.