Mitsubishi UFJ Trust & Banking Corp Sells 3,135 Shares of ResMed Inc. (NYSE:RMD)

Mitsubishi UFJ Trust & Banking Corp cut its stake in shares of ResMed Inc. (NYSE:RMD) by 3.2% in the first quarter, Holdings Channel reports. The fund owned 96,138 shares of the medical equipment provider’s stock after selling 3,135 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in ResMed were worth $19,008,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Atlantic Edge Private Wealth Management LLC bought a new position in ResMed during the 4th quarter valued at about $27,000. Hall Laurie J Trustee bought a new position in ResMed in the 1st quarter worth approximately $32,000. BOK Financial Private Wealth Inc. acquired a new position in ResMed during the 1st quarter worth $35,000. Planned Solutions Inc. bought a new position in ResMed in the 4th quarter valued at $34,000. Finally, Riverview Trust Co acquired a new stake in shares of ResMed in the 1st quarter valued at $42,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Price Performance

Shares of NYSE RMD traded down $0.73 during trading hours on Friday, hitting $203.15. 715,022 shares of the stock were exchanged, compared to its average volume of 1,235,158. ResMed Inc. has a 1-year low of $132.24 and a 1-year high of $229.97. The company has a market cap of $29.84 billion, a PE ratio of 31.21, a price-to-earnings-growth ratio of 1.75 and a beta of 0.66. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.97 and a current ratio of 3.04. The company’s fifty day simple moving average is $205.43 and its two-hundred day simple moving average is $193.86.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.22. ResMed had a return on equity of 24.43% and a net margin of 20.91%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the company posted $1.68 EPS. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, sell-side analysts predict that ResMed Inc. will post 7.7 EPS for the current year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 9th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend was Wednesday, May 8th. ResMed’s dividend payout ratio (DPR) is currently 29.49%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Mizuho reaffirmed a “buy” rating and set a $215.00 price target on shares of ResMed in a research note on Wednesday, March 27th. KeyCorp raised their target price on shares of ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Royal Bank of Canada boosted their price target on shares of ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a research note on Friday, April 26th. Citigroup lowered shares of ResMed from a “buy” rating to a “neutral” rating in a report on Monday, June 24th. Finally, Oppenheimer cut shares of ResMed from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $202.80.

Insider Activity

In related news, CFO Brett Sandercock sold 1,000 shares of the business’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $194.35, for a total value of $194,350.00. Following the sale, the chief financial officer now owns 90,056 shares of the company’s stock, valued at $17,502,383.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other ResMed news, Director Karen Drexler sold 425 shares of the firm’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $214.92, for a total value of $91,341.00. Following the transaction, the director now directly owns 8,446 shares of the company’s stock, valued at $1,815,214.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brett Sandercock sold 1,000 shares of ResMed stock in a transaction dated 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 owns 90,056 shares of the company’s stock, valued at $17,502,383.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,834 shares of company stock valued at $9,694,137. 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.