Dai ichi Life Insurance Company Ltd Sells 228 Shares of ResMed Inc. (NYSE:RMD)

Dai ichi Life Insurance Company Ltd cut its holdings in ResMed Inc. (NYSE:RMD) by 18.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,016 shares of the medical equipment provider’s stock after selling 228 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in ResMed were worth $248,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new stake in ResMed in the third quarter valued at about $34,000. OFI Invest Asset Management bought a new stake in ResMed in the second quarter valued at approximately $32,000. Versant Capital Management Inc raised its holdings in ResMed by 196.7% in the second quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 120 shares during the period. Financial Connections Group Inc. bought a new position in shares of ResMed during the second quarter worth $37,000. Finally, Blue Trust Inc. grew its holdings in shares of ResMed by 182.7% in the 2nd quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock valued at $42,000 after buying an additional 137 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Baird R W upgraded ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. Robert W. Baird upped their price target on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a report on Friday, October 25th. KeyCorp raised their price objective on shares of ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Royal Bank of Canada upped their target price on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Finally, StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $225.70.

ResMed Stock Down 0.3 %

RMD stock opened at $249.33 on Friday. The company has a market cap of $36.60 billion, a price-to-earnings ratio of 33.02, a P/E/G ratio of 1.82 and a beta of 0.69. ResMed Inc. has a twelve month low of $151.95 and a twelve month high of $260.49. The business has a 50 day moving average price of $242.15 and a two-hundred day moving average price of $225.38. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, beating the consensus estimate of $2.03 by $0.17. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the firm posted $1.64 EPS. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. Analysts anticipate that ResMed Inc. will post 9.28 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.85%. ResMed’s payout ratio is 28.08%.

Insider Activity at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $239.90, for a total value of $479,800.00. Following the completion of the sale, the director now directly owns 87,204 shares of the company’s stock, valued at $20,920,239.60. This trade represents a 2.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $248.38, for a total value of $3,646,963.54. Following the transaction, the chief executive officer now directly owns 464,169 shares in the company, valued at $115,290,296.22. The trade was a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,334 shares of company stock worth $16,379,713. Insiders own 0.71% 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. 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.