Sumitomo Mitsui DS Asset Management Company Ltd Grows Stake in ResMed Inc. (NYSE:RMD)

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in ResMed Inc. (NYSE:RMD) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,053 shares of the medical equipment provider’s stock after purchasing an additional 185 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in ResMed were worth $2,245,000 at the end of the most recent reporting period.

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

ResMed Stock Down 0.3 %

RMD stock opened at $183.74 on Thursday. The stock has a market capitalization of $27.03 billion, a P/E ratio of 30.37, a P/E/G ratio of 2.26 and a beta of 0.67. The firm has a 50-day simple moving average of $186.30 and a 200-day simple moving average of $171.39. The company has a quick ratio of 1.89, a current ratio of 3.11 and a debt-to-equity ratio of 0.27. ResMed Inc. has a 52 week low of $132.24 and a 52 week high of $243.52.

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

Wall Street Analyst Weigh In

RMD has been the subject of several research reports. UBS Group lifted their price objective 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. Mizuho restated a “buy” rating and set a $215.00 target price on shares of ResMed in a research report on Wednesday, March 27th. Needham & Company LLC lifted their price objective on shares of ResMed from $215.00 to $224.00 and gave the company a “buy” rating in a report on Monday, April 1st. JPMorgan Chase & Co. lifted their price objective on shares of ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a report on Tuesday, January 9th. Finally, Oppenheimer lifted their price objective on shares of ResMed from $185.00 to $205.00 and gave the company an “outperform” rating in a report on Tuesday, January 30th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, ResMed presently has a consensus rating of “Moderate Buy” and an average target price of $199.20.

Insider Activity at ResMed

In related news, General Counsel Michael J. Rider sold 200 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were 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 filing with the SEC, which can be accessed through this hyperlink. In related news, General Counsel Michael J. Rider sold 200 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were 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 filing with the SEC, which can be accessed through this hyperlink. Also, Director Peter C. Farrell sold 10,935 shares of the company’s 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 sale, the director now directly owns 157,404 shares of the company’s stock, valued at approximately $28,751,414.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,216 shares of company stock valued at $2,046,617. Corporate insiders own 1.21% of the company’s stock.

ResMed Company 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.