Meiji Yasuda Life Insurance Co Purchases Shares of 2,100 ResMed Inc. (NYSE:RMD)

Meiji Yasuda Life Insurance Co purchased a new position in ResMed Inc. (NYSE:RMD) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,100 shares of the medical equipment provider’s stock, valued at approximately $402,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. OFI Invest Asset Management purchased a new stake in shares of ResMed in the second quarter worth about $32,000. BOK Financial Private Wealth Inc. purchased a new stake in shares of ResMed during the 1st quarter worth approximately $35,000. Versant Capital Management Inc boosted its position in shares of ResMed by 196.7% during the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock valued at $35,000 after acquiring an additional 120 shares during the last quarter. Financial Connections Group Inc. purchased a new position in shares of ResMed in the second quarter valued at $37,000. Finally, Riverview Trust Co bought a new stake in ResMed in the first quarter worth $42,000. Institutional investors own 54.98% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Brett Sandercock sold 1,000 shares of ResMed stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $194.35, for a total value of $194,350.00. Following the completion of the sale, the chief financial officer now directly owns 90,056 shares in the company, valued at $17,502,383.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Brett Sandercock sold 1,000 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $194.35, for a total transaction of $194,350.00. Following the transaction, the chief financial officer now directly owns 90,056 shares in the company, valued at $17,502,383.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Michael J. Rider sold 882 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $231.00, for a total value of $203,742.00. Following the sale, the general counsel now directly owns 10,512 shares in the company, valued at approximately $2,428,272. The disclosure for this sale can be found here. In the last ninety days, insiders sold 102,931 shares of company stock worth $22,644,807. 1.21% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on RMD shares. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research report on Wednesday. Royal Bank of Canada lifted their price target on ResMed from $204.00 to $206.00 and gave the stock a “sector perform” rating in a research report on Friday, August 2nd. Citigroup downgraded ResMed from a “buy” rating to a “neutral” rating in a research report on Monday, June 24th. KeyCorp lifted their target price on ResMed from $238.00 to $251.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Oppenheimer lowered ResMed from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, ResMed has a consensus rating of “Hold” and a consensus price target of $199.70.

ResMed Trading Down 5.2 %

NYSE RMD opened at $237.90 on Thursday. The stock has a market cap of $34.95 billion, a PE ratio of 36.54, a PEG ratio of 2.49 and a beta of 0.69. ResMed Inc. has a 12 month low of $132.24 and a 12 month high of $255.18. The company’s 50-day moving average price is $225.25 and its 200-day moving average price is $208.53. The company has a current ratio of 2.59, a quick ratio of 1.69 and a debt-to-equity ratio of 0.14.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.05. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period last year, the company posted $1.60 earnings per share. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. Equities research analysts forecast that ResMed Inc. will post 8.92 earnings per share for the current year.

ResMed Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, August 15th will be given a dividend of $0.53 per share. The ex-dividend date is Thursday, August 15th. This is a positive change from ResMed’s previous quarterly dividend of $0.48. This represents a $2.12 dividend on an annualized basis and a yield of 0.89%. ResMed’s payout ratio is 32.57%.

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.