Nomura Asset Management Co. Ltd. Purchases 2,186 Shares of ResMed Inc. $RMD

Nomura Asset Management Co. Ltd. increased its position in ResMed Inc. (NYSE:RMD) by 4.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 47,399 shares of the medical equipment provider’s stock after acquiring an additional 2,186 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in ResMed were worth $12,229,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Private Advisor Group LLC increased its position in shares of ResMed by 18.3% during the first quarter. Private Advisor Group LLC now owns 3,244 shares of the medical equipment provider’s stock valued at $726,000 after buying an additional 501 shares during the period. Teachers Retirement System of The State of Kentucky boosted its position in shares of ResMed by 3.0% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 11,266 shares of the medical equipment provider’s stock valued at $2,522,000 after acquiring an additional 325 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH grew its stake in ResMed by 12.2% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 95,874 shares of the medical equipment provider’s stock valued at $21,461,000 after acquiring an additional 10,431 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its holdings in ResMed by 43.4% during the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,520 shares of the medical equipment provider’s stock worth $340,000 after acquiring an additional 460 shares during the period. Finally, Wakefield Asset Management LLLP increased its holdings in ResMed by 1.5% during the 1st quarter. Wakefield Asset Management LLLP now owns 14,653 shares of the medical equipment provider’s stock worth $3,280,000 after acquiring an additional 221 shares during the period. 54.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on RMD shares. Mizuho cut their target price on ResMed from $310.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, October 31st. Wall Street Zen lowered ResMed from a “buy” rating to a “hold” rating in a research report on Sunday, August 10th. Royal Bank Of Canada upped their target price on ResMed from $300.00 to $303.00 and gave the company an “outperform” rating in a report on Friday, October 31st. William Blair upgraded shares of ResMed to a “strong-buy” rating in a report on Friday, August 1st. Finally, CLSA raised shares of ResMed from a “hold” rating to an “outperform” rating in a research report on Tuesday, September 2nd. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $297.45.

Insider Buying and Selling at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $252.05, for a total value of $504,100.00. Following the sale, the director owned 66,110 shares in the company, valued at approximately $16,663,025.50. This represents a 2.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Witte Jan De sold 487 shares of ResMed stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $250.25, for a total transaction of $121,871.75. Following the transaction, the director owned 5,319 shares of the company’s stock, valued at $1,331,079.75. The trade was a 8.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 18,607 shares of company stock worth $4,919,501. Insiders own 0.65% of the company’s stock.

ResMed Trading Down 0.4%

RMD opened at $245.18 on Thursday. The company has a quick ratio of 2.53, a current ratio of 3.44 and a debt-to-equity ratio of 0.11. ResMed Inc. has a 52 week low of $199.92 and a 52 week high of $293.81. The stock has a market cap of $35.78 billion, a PE ratio of 25.78, a PEG ratio of 1.75 and a beta of 0.87. The business has a 50 day moving average of $264.42 and a 200-day moving average of $263.15.

ResMed (NYSE:RMD) last posted its quarterly earnings data 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 business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.33 billion. ResMed had a return on equity of 25.62% and a net margin of 27.22%.The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.20 earnings per share. Equities research analysts predict that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

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

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.