ResMed Inc. (NYSE:RMD) Shares Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of ResMed Inc. (NYSE:RMD) by 1.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,053 shares of the medical equipment provider’s stock after purchasing an additional 185 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in ResMed were worth $2,245,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. MV Capital Management Inc. boosted its stake in ResMed by 39.0% during the 4th quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock worth $37,000 after purchasing an additional 60 shares during the period. Great Lakes Advisors LLC lifted its stake in shares of ResMed by 2.6% in the 3rd quarter. Great Lakes Advisors LLC now owns 2,643 shares of the medical equipment provider’s stock worth $391,000 after acquiring an additional 68 shares during the period. Harfst & Associates Inc. lifted its stake in shares of ResMed by 0.7% in the 3rd quarter. Harfst & Associates Inc. now owns 10,995 shares of the medical equipment provider’s stock worth $1,626,000 after acquiring an additional 73 shares during the period. Czech National Bank lifted its stake in shares of ResMed by 0.3% in the 4th quarter. Czech National Bank now owns 25,762 shares of the medical equipment provider’s stock worth $4,432,000 after acquiring an additional 81 shares during the period. Finally, Global Retirement Partners LLC lifted its stake in shares of ResMed by 12.9% in the 3rd quarter. Global Retirement Partners LLC now owns 840 shares of the medical equipment provider’s stock worth $124,000 after acquiring an additional 96 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. UBS Group raised their target price on shares of ResMed from $175.00 to $180.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. Needham & Company LLC raised their target price on shares of ResMed from $215.00 to $224.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Royal Bank of Canada raised their price objective on shares of ResMed from $181.00 to $182.00 and gave the company a “sector perform” rating in a research note on Thursday, January 25th. Oppenheimer raised their price objective on shares of ResMed from $185.00 to $205.00 and gave the company an “outperform” rating in a research note on Tuesday, January 30th. Finally, Mizuho reiterated a “buy” rating and issued a $215.00 price objective on shares of ResMed in a research note on Wednesday, March 27th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $199.20.

Insider Buying and Selling at ResMed

In other news, Director Peter C. Farrell sold 10,935 shares of ResMed stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the completion of the sale, the director now directly owns 157,404 shares in the company, valued at $28,751,414.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Peter C. Farrell sold 10,935 shares of ResMed stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the completion of the sale, the director now directly owns 157,404 shares in the company, valued at $28,751,414.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Michael J. Rider sold 200 shares of ResMed stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $173.25, for a total transaction of $34,650.00. Following the sale, the general counsel now owns 6,688 shares of the company’s stock, valued at $1,158,696. The disclosure for this sale can be found here. In the last three months, insiders sold 11,216 shares of company stock worth $2,046,617. 1.21% of the stock is owned by corporate insiders.

ResMed Stock Performance

NYSE:RMD opened at $183.74 on Thursday. The company has a current ratio of 3.11, a quick ratio of 1.89 and a debt-to-equity ratio of 0.27. The firm has a 50-day moving average price of $186.30 and a two-hundred day moving average price of $171.39. ResMed Inc. has a twelve month low of $132.24 and a twelve month high of $243.52. The company has a market capitalization of $27.03 billion, a P/E ratio of 30.37, a price-to-earnings-growth ratio of 2.26 and a beta of 0.67.

ResMed (NYSE:RMD) last posted its earnings results on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.07. ResMed had a net margin of 19.77% and a return on equity of 23.86%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the firm posted $1.66 EPS. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. As a group, research analysts expect that ResMed Inc. will post 7.47 earnings per share for the current fiscal year.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.