Dai ichi Life Insurance Company Ltd Has $248,000 Stock Holdings in ResMed Inc. (NYSE:RMD)

Dai ichi Life Insurance Company Ltd reduced its holdings in shares of ResMed Inc. (NYSE:RMD) by 18.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of RMD. OFI Invest Asset Management bought a new position in shares of ResMed in the second quarter worth about $32,000. Ashton Thomas Securities LLC acquired a new stake in ResMed in the third quarter valued at approximately $34,000. Versant Capital Management Inc grew its stake in shares of ResMed by 196.7% during the second quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 120 shares during the last quarter. Financial Connections Group Inc. acquired a new position in shares of ResMed during the second quarter worth $37,000. Finally, Blue Trust Inc. lifted its stake 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 acquiring an additional 137 shares during the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

Insider Activity at ResMed

In other news, Director Witte Jan De sold 796 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total transaction of $198,052.76. Following the transaction, the director now directly owns 6,723 shares of the company’s stock, valued at $1,672,749.63. This represents a 10.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kaushik Ghoshal sold 5,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $252.56, for a total value of $1,262,800.00. Following the completion of the transaction, the insider now owns 21,788 shares in the company, valued at approximately $5,502,777.28. This represents a 18.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 68,334 shares of company stock worth $16,379,713 in the last quarter. Company insiders own 0.71% of the company’s stock.

Analyst Upgrades and Downgrades

RMD has been the topic of a number of research reports. Royal Bank of Canada boosted their price objective on ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Wolfe Research reissued an “underperform” rating and set a $180.00 target price on shares of ResMed in a report on Wednesday, September 18th. 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 research report on Friday, October 25th. Finally, KeyCorp lifted their price target on shares of ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, ResMed has an average rating of “Moderate Buy” and a consensus target price of $225.70.

ResMed Price Performance

RMD stock opened at $249.33 on Friday. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The firm has a market cap of $36.60 billion, a price-to-earnings ratio of 33.02, a PEG ratio of 1.82 and a beta of 0.69. The company’s fifty day simple moving average is $242.15 and its 200 day simple moving average is $225.38. ResMed Inc. has a 12-month low of $151.95 and a 12-month high of $260.49.

ResMed (NYSE:RMD) last announced its earnings results 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. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.64 EPS. On average, analysts expect that ResMed Inc. will post 9.28 earnings per share for the current year.

ResMed Dividend Announcement

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

About ResMed

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.