ResMed Inc. (NYSE:RMD) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lessened its holdings in ResMed Inc. (NYSE:RMDGet Rating) by 4.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,297 shares of the medical equipment provider’s stock after selling 448 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in ResMed were worth $2,497,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Comprehensive Financial Consultants Institutional Inc. purchased a new stake in ResMed in the 4th quarter worth approximately $25,000. GHP Investment Advisors Inc. purchased a new stake in ResMed in the 1st quarter worth approximately $33,000. Covestor Ltd purchased a new stake in ResMed in the 4th quarter worth approximately $41,000. Intelligent Financial Strategies purchased a new stake in ResMed in the 4th quarter worth approximately $52,000. Finally, JJJ Advisors Inc. boosted its position in ResMed by 34.5% in the 1st quarter. JJJ Advisors Inc. now owns 308 shares of the medical equipment provider’s stock worth $75,000 after purchasing an additional 79 shares in the last quarter. Institutional investors and hedge funds own 65.50% of the company’s stock.

ResMed Trading Up 0.5 %

Shares of RMD stock opened at $224.26 on Tuesday. The stock’s fifty day moving average is $230.45 and its two-hundred day moving average is $224.35. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.72 and a current ratio of 2.80. The firm has a market capitalization of $32.84 billion, a P/E ratio of 42.23, a PEG ratio of 3.20 and a beta of 0.50. ResMed Inc. has a fifty-two week low of $189.40 and a fifty-two week high of $291.75.

ResMed (NYSE:RMDGet Rating) last announced its quarterly earnings data on Thursday, August 11th. The medical equipment provider reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.01. The company had revenue of $914.74 million for the quarter, compared to analyst estimates of $912.53 million. ResMed had a return on equity of 26.56% and a net margin of 21.78%. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.35 EPS. Research analysts expect that ResMed Inc. will post 6.57 earnings per share for the current fiscal year.

ResMed Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 22nd. Shareholders of record on Thursday, August 18th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Wednesday, August 17th. This is an increase from ResMed’s previous quarterly dividend of $0.42. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.78%. ResMed’s dividend payout ratio (DPR) is 33.15%.

Analysts Set New Price Targets

RMD has been the topic of several recent research reports. JPMorgan Chase & Co. lowered ResMed from an “overweight” rating to a “neutral” rating in a research report on Friday, August 12th. Royal Bank of Canada lowered ResMed from an “outperform” rating to a “sector perform” rating and increased their target price for the company from $246.00 to $252.00 in a research report on Friday, August 12th. They noted that the move was a valuation call. Citigroup upgraded ResMed from a “neutral” rating to a “buy” rating in a research report on Thursday, September 8th. Finally, StockNews.com lowered ResMed from a “buy” rating to a “hold” rating in a research report on Friday, August 19th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, ResMed currently has an average rating of “Moderate Buy” and an average target price of $266.40.

Insiders Place Their Bets

In other ResMed news, insider David Pendarvis sold 1,545 shares of the firm’s stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $212.33, for a total value of $328,049.85. Following the completion of the sale, the insider now directly owns 106,831 shares of the company’s stock, valued at approximately $22,683,426.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, COO Robert Andrew Douglas sold 11,189 shares of the firm’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $232.51, for a total transaction of $2,601,554.39. Following the completion of the sale, the chief operating officer now directly owns 28,408 shares of the company’s stock, valued at approximately $6,605,144.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David Pendarvis sold 1,545 shares of the firm’s stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $212.33, for a total value of $328,049.85. Following the sale, the insider now directly owns 106,831 shares of the company’s stock, valued at $22,683,426.23. The disclosure for this sale can be found here. Insiders sold 35,629 shares of company stock valued at $8,241,549 in the last three months. 1.42% of the stock is currently owned by insiders.

ResMed Profile

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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 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.

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Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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