Kentucky Retirement Systems Sells 139 Shares of ResMed Inc. (NYSE:RMD)

Kentucky Retirement Systems trimmed its holdings in ResMed Inc. (NYSE:RMD) by 1.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,097 shares of the medical equipment provider’s stock after selling 139 shares during the quarter. Kentucky Retirement Systems’ holdings in ResMed were worth $2,309,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RMD. Blue Trust Inc. boosted its stake in ResMed by 359.4% in the 3rd quarter. Blue Trust Inc. now owns 974 shares of the medical equipment provider’s stock worth $238,000 after purchasing an additional 762 shares during the period. International Assets Investment Management LLC boosted its stake in ResMed by 24,311.9% in the 3rd quarter. International Assets Investment Management LLC now owns 26,609 shares of the medical equipment provider’s stock worth $6,496,000 after purchasing an additional 26,500 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of ResMed by 46.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 48,931 shares of the medical equipment provider’s stock valued at $11,945,000 after acquiring an additional 15,424 shares during the last quarter. Silver Oak Securities Incorporated boosted its position in shares of ResMed by 5,585.9% during the 3rd quarter. Silver Oak Securities Incorporated now owns 4,833 shares of the medical equipment provider’s stock valued at $1,155,000 after acquiring an additional 4,748 shares during the last quarter. Finally, Outlook Wealth Advisors LLC boosted its position in shares of ResMed by 2.8% during the 3rd quarter. Outlook Wealth Advisors LLC now owns 3,686 shares of the medical equipment provider’s stock valued at $900,000 after acquiring an additional 102 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $245.65, for a total transaction of $491,300.00. Following the transaction, the director now owns 81,218 shares in the company, valued at approximately $19,951,201.70. This trade represents a 2.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $236.77, for a total value of $1,896,290.93. Following the transaction, the chief executive officer now owns 455,472 shares in the company, valued at approximately $107,842,105.44. This represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,147 shares of company stock worth $2,905,745. Company insiders own 0.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RMD. Piper Sandler increased their target price on ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. The Goldman Sachs Group began coverage on ResMed in a research report on Thursday, January 16th. They set a “buy” rating for the company. KeyCorp increased their target price on ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research report on Friday, January 31st. Finally, UBS Group upgraded ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $244.73.

ResMed Stock Performance

RMD stock opened at $231.61 on Friday. 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 business’s fifty day simple moving average is $237.43 and its two-hundred day simple moving average is $239.07. ResMed Inc. has a twelve month low of $170.56 and a twelve month high of $263.05. The firm has a market cap of $34.02 billion, a price-to-earnings ratio of 27.34, a PEG ratio of 1.53 and a beta of 0.70.

ResMed (NYSE:RMD) last released its earnings results 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%. Analysts predict that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be paid a dividend of $0.53 per share. The ex-dividend date is Thursday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 0.92%. ResMed’s dividend payout ratio is currently 25.03%.

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.