Sumitomo Mitsui Trust Holdings Inc. Sells 4,022 Shares of ResMed Inc. (NYSE:RMD)

Sumitomo Mitsui Trust Holdings Inc. decreased its position in shares of ResMed Inc. (NYSE:RMD) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 348,744 shares of the medical equipment provider’s stock after selling 4,022 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.24% of ResMed worth $59,991,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Ossiam grew its holdings in shares of ResMed by 2.4% in the 1st quarter. Ossiam now owns 1,919 shares of the medical equipment provider’s stock valued at $420,000 after buying an additional 45 shares during the period. Ascent Group LLC grew its stake in ResMed by 2.3% in the third quarter. Ascent Group LLC now owns 1,995 shares of the medical equipment provider’s stock valued at $446,000 after acquiring an additional 45 shares during the period. SeaCrest Wealth Management LLC increased its holdings in shares of ResMed by 3.6% in the fourth quarter. SeaCrest Wealth Management LLC now owns 1,400 shares of the medical equipment provider’s stock worth $291,000 after acquiring an additional 48 shares in the last quarter. Capital Impact Advisors LLC increased its holdings in shares of ResMed by 3.0% in the fourth quarter. Capital Impact Advisors LLC now owns 1,916 shares of the medical equipment provider’s stock worth $399,000 after acquiring an additional 56 shares in the last quarter. Finally, Dearborn Partners LLC raised its position in shares of ResMed by 3.8% during the third quarter. Dearborn Partners LLC now owns 1,577 shares of the medical equipment provider’s stock worth $344,000 after purchasing an additional 57 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Stock Performance

RMD opened at $177.61 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.89 and a current ratio of 3.11. The business’s 50-day simple moving average is $186.29 and its 200 day simple moving average is $170.22. The firm has a market capitalization of $26.12 billion, a PE ratio of 29.36, a PEG ratio of 2.15 and a beta of 0.67. ResMed Inc. has a 52-week low of $132.24 and a 52-week high of $243.52.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.81 by $0.07. ResMed had a return on equity of 23.86% and a net margin of 19.77%. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the prior year, the business posted $1.66 EPS. The business’s revenue was up 12.5% compared to the same quarter last year. As a group, sell-side analysts expect that ResMed Inc. will post 7.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Thursday, February 8th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date was Wednesday, February 7th. ResMed’s dividend payout ratio is currently 31.74%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Mizuho reissued a “buy” rating and set a $215.00 target price on shares of ResMed in a research note on Wednesday, March 27th. Oppenheimer raised their price objective on shares of ResMed from $185.00 to $205.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. Royal Bank of Canada upped their target price on shares of ResMed from $181.00 to $182.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 25th. UBS Group lifted their price target on ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday, January 25th. Finally, JPMorgan Chase & Co. upped their price objective on ResMed from $160.00 to $195.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 9th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $199.20.

Insider Activity

In related news, Director Peter C. Farrell sold 10,935 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value of $1,997,387.10. Following the completion of the sale, the director now directly owns 157,404 shares in the company, valued at approximately $28,751,414.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other ResMed news, General Counsel Michael J. Rider sold 200 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $173.25, for a total transaction of $34,650.00. Following the completion of the sale, the general counsel now owns 6,688 shares of the company’s stock, valued at approximately $1,158,696. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter C. Farrell sold 10,935 shares of ResMed stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the transaction, the director now directly owns 157,404 shares of the company’s stock, valued at $28,751,414.64. The disclosure for this sale can be found here. Insiders sold a total of 11,216 shares of company stock valued at $2,046,617 in the last quarter. Company insiders own 1.21% of the company’s stock.

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.