ResMed Inc. (NYSE:RMD) Shares Sold by Strs Ohio

Strs Ohio trimmed its position in shares of ResMed Inc. (NYSE:RMD) by 61.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 37,500 shares of the medical equipment provider’s stock after selling 61,000 shares during the period. Strs Ohio’s holdings in ResMed were worth $6,450,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ossiam grew its position in ResMed by 2.4% during the 1st quarter. Ossiam now owns 1,919 shares of the medical equipment provider’s stock worth $420,000 after purchasing an additional 45 shares in the last quarter. Ascent Group LLC grew its position in ResMed by 2.3% during the 3rd quarter. Ascent Group LLC now owns 1,995 shares of the medical equipment provider’s stock worth $446,000 after purchasing an additional 45 shares in the last quarter. SeaCrest Wealth Management LLC grew its position in ResMed by 3.6% during the 4th quarter. SeaCrest Wealth Management LLC now owns 1,400 shares of the medical equipment provider’s stock worth $291,000 after purchasing an additional 48 shares in the last quarter. Capital Impact Advisors LLC grew its position in ResMed by 3.0% during the 4th quarter. Capital Impact Advisors LLC now owns 1,916 shares of the medical equipment provider’s stock worth $399,000 after purchasing an additional 56 shares in the last quarter. Finally, Dearborn Partners LLC grew its holdings in shares of ResMed by 3.8% during the 3rd quarter. Dearborn Partners LLC now owns 1,577 shares of the medical equipment provider’s stock valued at $344,000 after acquiring an additional 57 shares in the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RMD has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price target on shares of ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a report on Tuesday, January 9th. Needham & Company LLC boosted their price target on shares of ResMed from $215.00 to $224.00 and gave the company a “buy” rating in a report on Monday, April 1st. Oppenheimer lifted their price objective on shares of ResMed from $185.00 to $205.00 and gave the company an “outperform” rating in a research note on Tuesday, January 30th. KeyCorp assumed coverage on shares of ResMed in a research note on Tuesday, February 6th. They issued an “overweight” rating and a $227.00 price objective for the company. Finally, Mizuho reaffirmed a “buy” rating and issued a $215.00 price objective on shares of ResMed in a research note on Wednesday, March 27th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $199.20.

Insider Activity

In other news, Director Peter C. Farrell sold 10,935 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the completion of the transaction, the director now owns 157,404 shares of the company’s stock, valued at $28,751,414.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Peter C. Farrell sold 10,935 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the completion of the transaction, the director now owns 157,404 shares of the company’s stock, valued at $28,751,414.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Michael J. Rider sold 200 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $173.25, for a total transaction of $34,650.00. Following the transaction, the general counsel now directly owns 6,688 shares of the company’s stock, valued at approximately $1,158,696. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,216 shares of company stock valued at $2,046,617. Insiders own 1.21% of the company’s stock.

ResMed Stock Down 6.0 %

ResMed stock opened at $173.86 on Thursday. The firm has a market cap of $25.57 billion, a price-to-earnings ratio of 28.74, a P/E/G ratio of 2.29 and a beta of 0.67. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.11 and a quick ratio of 1.89. ResMed Inc. has a fifty-two week low of $132.24 and a fifty-two week high of $243.52. The firm has a fifty day moving average price of $186.42 and a two-hundred day moving average price of $170.17.

ResMed (NYSE:RMD) last released its earnings results on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.81 by $0.07. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. ResMed had a net margin of 19.77% and a return on equity of 23.86%. The business’s revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.66 EPS. As a group, analysts forecast that ResMed Inc. will post 7.46 earnings per share for the current year.

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Thursday, February 8th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend was Wednesday, February 7th. ResMed’s dividend payout ratio is currently 31.74%.

ResMed Company 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.