Teachers Retirement System of The State of Kentucky Reduces Stock Holdings in ResMed Inc. (NYSE:RMD)

Teachers Retirement System of The State of Kentucky lowered its position in ResMed Inc. (NYSE:RMDGet Rating) by 4.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,297 shares of the medical equipment provider’s stock after selling 448 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in ResMed were worth $2,497,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in RMD. Comprehensive Financial Consultants Institutional Inc. purchased a new stake in ResMed during the 4th quarter worth about $25,000. GHP Investment Advisors Inc. purchased a new stake in ResMed during the 1st quarter worth about $33,000. Covestor Ltd purchased a new stake in ResMed during the 4th quarter worth about $41,000. Intelligent Financial Strategies purchased a new stake in ResMed during the 4th quarter worth about $52,000. Finally, JJJ Advisors Inc. increased its position in ResMed by 34.5% during the 1st quarter. JJJ Advisors Inc. now owns 308 shares of the medical equipment provider’s stock worth $75,000 after purchasing an additional 79 shares in the last quarter. Hedge funds and other institutional investors own 65.50% of the company’s stock.

Insider Activity

In related news, insider David Pendarvis sold 1,545 shares of the business’s stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $212.33, for a total transaction of $328,049.85. Following the transaction, the insider now directly owns 106,831 shares of the company’s stock, valued at approximately $22,683,426.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Brett Sandercock sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $240.66, for a total transaction of $601,650.00. Following the transaction, the chief financial officer now directly owns 106,426 shares of the company’s stock, valued at approximately $25,612,481.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David Pendarvis sold 1,545 shares of the business’s stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $212.33, for a total value of $328,049.85. Following the transaction, the insider now directly owns 106,831 shares in the company, valued at $22,683,426.23. The disclosure for this sale can be found here. Insiders have sold 35,629 shares of company stock valued at $8,241,549 in the last three months. Corporate insiders own 1.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on RMD shares. Citigroup upgraded ResMed from a “neutral” rating to a “buy” rating in a research report on Thursday, September 8th. JPMorgan Chase & Co. cut ResMed from an “overweight” rating to a “neutral” rating in a report on Friday, August 12th. StockNews.com cut ResMed from a “buy” rating to a “hold” rating in a report on Friday, August 19th. Finally, Royal Bank of Canada cut ResMed from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from $246.00 to $252.00 in a report on Friday, August 12th. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $266.40.

ResMed Stock Performance

NYSE RMD opened at $224.26 on Tuesday. The firm has a market capitalization of $32.84 billion, a P/E ratio of 42.23, a P/E/G ratio of 3.20 and a beta of 0.50. ResMed Inc. has a 1-year low of $189.40 and a 1-year high of $291.75. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.80 and a quick ratio of 1.72. The business’s 50-day simple moving average is $230.45 and its 200-day simple moving average is $224.35.

ResMed (NYSE:RMDGet Rating) last released its quarterly earnings data on Thursday, August 11th. The medical equipment provider reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.01. The business had revenue of $914.74 million for the quarter, compared to analyst estimates of $912.53 million. ResMed had a return on equity of 26.56% and a net margin of 21.78%. The company’s revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.35 EPS. Equities analysts predict that ResMed Inc. will post 6.57 EPS for the current year.

ResMed Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 22nd. Stockholders of record on Thursday, August 18th will be paid a $0.44 dividend. This is a positive change from ResMed’s previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend is Wednesday, August 17th. ResMed’s payout ratio is currently 33.15%.

ResMed Profile

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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 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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