Commonwealth of Pennsylvania Public School Empls Retrmt SYS Boosts Stake in ResMed Inc. (NYSE:RMD)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of ResMed Inc. (NYSE:RMDFree Report) by 15.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,543 shares of the medical equipment provider’s stock after acquiring an additional 3,918 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in ResMed were worth $4,369,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Kayne Anderson Rudnick Investment Management LLC purchased a new position in ResMed during the 3rd quarter worth $26,000. Compass Wealth Management LLC acquired a new position in shares of ResMed in the 4th quarter valued at about $26,000. International Assets Investment Management LLC acquired a new position in shares of ResMed in the 3rd quarter valued at about $27,000. EverSource Wealth Advisors LLC lifted its holdings in shares of ResMed by 224.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider’s stock valued at $27,000 after buying an additional 128 shares during the period. Finally, Riverview Trust Co lifted its holdings in shares of ResMed by 255.9% in the 3rd quarter. Riverview Trust Co now owns 210 shares of the medical equipment provider’s stock valued at $31,000 after buying an additional 151 shares during the period. Institutional investors own 63.79% of the company’s stock.

Insider Activity

In other news, CFO Brett Sandercock sold 3,000 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of $152.62, for a total value of $457,860.00. Following the sale, the chief financial officer now directly owns 92,962 shares in the company, valued at $14,187,860.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Michael J. Farrell sold 5,678 shares of the stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $152.04, for a total value of $863,283.12. Following the transaction, the chief executive officer now owns 440,986 shares of the company’s stock, valued at $67,047,511.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brett Sandercock sold 3,000 shares of the firm’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $152.62, for a total value of $457,860.00. Following the transaction, the chief financial officer now directly owns 92,962 shares in the company, valued at approximately $14,187,860.44. The disclosure for this sale can be found here. Insiders own 1.21% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. KeyCorp assumed coverage on ResMed in a research note on Tuesday, February 6th. They issued an “overweight” rating and a $227.00 price target for the company. Mizuho boosted their price objective on ResMed from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Oppenheimer boosted their price objective on ResMed from $185.00 to $205.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 30th. UBS Group upped their price target on ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. Finally, Royal Bank of Canada upped their price target on ResMed from $181.00 to $182.00 and gave the company a “sector perform” rating in a research report on Thursday, January 25th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, ResMed currently has an average rating of “Moderate Buy” and a consensus target price of $196.30.

Get Our Latest Analysis on ResMed

ResMed Stock Up 0.5 %

NYSE:RMD opened at $184.63 on Monday. The company has a quick ratio of 1.89, a current ratio of 3.11 and a debt-to-equity ratio of 0.27. The stock’s fifty day moving average is $175.25 and its two-hundred day moving average is $163.52. ResMed Inc. has a 52 week low of $132.24 and a 52 week high of $243.52. The stock has a market capitalization of $27.16 billion, a price-to-earnings ratio of 30.52, a price-to-earnings-growth ratio of 2.31 and a beta of 0.69.

ResMed (NYSE:RMDGet Free Report) last released its quarterly earnings results on Wednesday, January 24th. The medical equipment provider reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.81 by $0.07. ResMed had a return on equity of 23.86% and a net margin of 19.77%. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the firm earned $1.66 earnings per share. The firm’s revenue was up 12.5% compared to the same quarter last year. Research analysts anticipate that ResMed Inc. will post 7.39 EPS for the current year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 14th. Stockholders of record on Thursday, February 8th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Wednesday, February 7th. ResMed’s payout ratio is currently 31.74%.

About ResMed

(Free Report)

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.

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Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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