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

Teachers Retirement System of The State of Kentucky decreased its holdings in shares of ResMed Inc. (NYSE:RMD) by 6.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,941 shares of the medical equipment provider’s stock after selling 719 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in ResMed were worth $2,671,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. State Street Corp increased its stake in shares of ResMed by 1.9% during the third quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider’s stock worth $1,528,590,000 after acquiring an additional 116,918 shares during the period. Bank of New York Mellon Corp increased its position in ResMed by 51.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider’s stock worth $1,105,022,000 after purchasing an additional 1,959,642 shares during the period. Geode Capital Management LLC raised its stake in shares of 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 buying an additional 380,383 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of ResMed by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 924,047 shares of the medical equipment provider’s stock valued at $225,578,000 after buying an additional 13,985 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of ResMed by 0.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 742,411 shares of the medical equipment provider’s stock valued at $181,237,000 after buying an additional 2,406 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Insider Buying and Selling

In other ResMed news, insider Justin Leong sold 6,160 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the transaction, the insider now owns 21,718 shares of the company’s stock, valued at $5,279,428.62. This trade represents a 22.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $237.20, for a total transaction of $474,400.00. Following the completion of the transaction, the director now owns 85,204 shares in the company, valued at approximately $20,210,388.80. This trade represents a 2.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,725 shares of company stock worth $11,253,448. 0.71% of the stock is owned by insiders.

Analyst Ratings Changes

RMD has been the subject of several research analyst reports. Wolfe Research reiterated an “underperform” rating and issued a $180.00 price objective on shares of ResMed in a research report on Wednesday, September 18th. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Stifel Nicolaus initiated coverage on shares of ResMed in a research report on Friday. They set a “hold” rating and a $250.00 target price on the stock. Royal Bank of Canada lifted their price target on shares of ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Finally, Needham & Company LLC restated a “hold” rating on shares of ResMed in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, ResMed has an average rating of “Moderate Buy” and an average target price of $227.91.

ResMed Stock Performance

NYSE RMD opened at $238.52 on Monday. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. ResMed Inc. has a fifty-two week low of $164.12 and a fifty-two week high of $260.49. The business has a fifty day moving average of $242.75 and a 200-day moving average of $227.74. The stock has a market cap of $35.01 billion, a price-to-earnings ratio of 31.59, a price-to-earnings-growth ratio of 1.73 and a beta of 0.68.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the company posted $1.64 EPS. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, analysts predict that ResMed Inc. will post 9.34 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 7th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a yield of 0.89%. ResMed’s dividend payout ratio (DPR) is currently 28.08%.

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.