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

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its stake in shares of ResMed Inc. (NYSE:RMD) by 2.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,213 shares of the medical equipment provider’s stock after selling 773 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in ResMed were worth $7,138,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of RMD. Geode Capital Management LLC increased its holdings in ResMed by 10.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock worth $939,114,000 after purchasing an additional 380,383 shares during the period. Los Angeles Capital Management LLC increased its holdings in ResMed by 60.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 668,908 shares of the medical equipment provider’s stock worth $152,973,000 after purchasing an additional 250,746 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its holdings in ResMed by 726.3% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,801 shares of the medical equipment provider’s stock worth $69,281,000 after purchasing an additional 249,454 shares during the period. Proficio Capital Partners LLC purchased a new stake in ResMed during the 4th quarter worth about $50,364,000. Finally, Nordea Investment Management AB increased its holdings in ResMed by 92.7% during the 4th quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider’s stock worth $103,214,000 after purchasing an additional 215,561 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Stock Down 0.6 %

Shares of NYSE RMD opened at $219.77 on Friday. ResMed Inc. has a 52-week low of $172.19 and a 52-week high of $263.05. The business has a 50-day moving average price of $234.91 and a 200 day moving average price of $239.06. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The stock has a market cap of $32.28 billion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. Equities research analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were given a dividend of $0.53 per share. The ex-dividend date was Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a yield of 0.96%. ResMed’s payout ratio is 25.03%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. The Goldman Sachs Group initiated coverage on ResMed in a report on Thursday, January 16th. They set a “buy” rating on the stock. KeyCorp increased their price objective on ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Citigroup upgraded ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday, March 5th. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a report on Saturday, March 15th. Finally, Stifel Nicolaus dropped their price objective on ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $246.83.

Insiders Place Their Bets

In other news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total value of $484,220.00. Following the completion of the sale, the director now directly owns 77,218 shares of the company’s stock, valued at $18,695,249.98. This trade represents a 2.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kaushik Ghoshal sold 9,745 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $239.31, for a total value of $2,332,075.95. Following the completion of the sale, the insider now directly owns 9,725 shares of the company’s stock, valued at $2,327,289.75. This represents a 50.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,940 shares of company stock valued at $9,164,385. 0.71% of the stock is owned by company insiders.

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.