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

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

Several other large investors have also bought and sold shares of RMD. ICW Investment Advisors LLC grew its holdings in shares of ResMed by 0.4% during the first quarter. ICW Investment Advisors LLC now owns 11,394 shares of the medical equipment provider’s stock valued at $2,551,000 after buying an additional 41 shares during the last quarter. Johnson Investment Counsel Inc. increased its holdings in ResMed by 2.8% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 1,665 shares of the medical equipment provider’s stock worth $430,000 after buying an additional 45 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in ResMed by 3.9% in the 1st quarter. Smartleaf Asset Management LLC now owns 1,222 shares of the medical equipment provider’s stock worth $269,000 after buying an additional 46 shares in the last quarter. E Fund Management Co. Ltd. raised its position in ResMed by 2.8% in the 1st quarter. E Fund Management Co. Ltd. now owns 1,719 shares of the medical equipment provider’s stock worth $385,000 after buying an additional 47 shares during the last quarter. Finally, V Square Quantitative Management LLC lifted its stake in ResMed by 3.0% during the 2nd quarter. V Square Quantitative Management LLC now owns 1,747 shares of the medical equipment provider’s stock valued at $451,000 after acquiring an additional 51 shares during the period. 54.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on RMD shares. Mizuho reduced their price target on shares of ResMed from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, October 31st. Wells Fargo & Company assumed coverage on shares of ResMed in a research report on Monday, October 13th. They issued an “equal weight” rating and a $280.00 target price for the company. CLSA upgraded shares of ResMed from a “hold” rating to an “outperform” rating in a research note on Tuesday, September 2nd. Stifel Nicolaus raised their price target on ResMed from $240.00 to $270.00 and gave the stock a “hold” rating in a research note on Friday, August 1st. Finally, Piper Sandler upped their price objective on ResMed from $248.00 to $270.00 and gave the company a “neutral” rating in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $297.45.

ResMed Trading Down 0.4%

NYSE:RMD opened at $245.18 on Thursday. ResMed Inc. has a one year low of $199.92 and a one year high of $293.81. The business has a fifty day moving average price of $264.42 and a 200-day moving average price of $263.15. The firm has a market capitalization of $35.78 billion, a price-to-earnings ratio of 25.78, a price-to-earnings-growth ratio of 1.75 and a beta of 0.87. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.44 and a quick ratio of 2.53.

ResMed (NYSE:RMD) last released its quarterly earnings results on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.06. The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.33 billion. ResMed had a return on equity of 25.62% and a net margin of 27.22%.ResMed’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.20 earnings per share. Sell-side analysts forecast that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The business 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 is Thursday, November 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.0%. ResMed’s payout ratio is 24.56%.

Insider Activity

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $252.05, for a total transaction of $504,100.00. Following the sale, the director owned 66,110 shares in the company, valued at approximately $16,663,025.50. This trade represents a 2.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Michael J. Rider sold 100 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $274.36, for a total transaction of $27,436.00. Following the completion of the transaction, the general counsel owned 11,327 shares of the company’s stock, valued at approximately $3,107,675.72. The trade was a 0.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 18,607 shares of company stock worth $4,919,501 in the last quarter. 0.65% of the stock is currently owned by insiders.

ResMed Profile

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.