Louisiana State Employees Retirement System Acquires Shares of 8,900 ResMed Inc. (NYSE:RMD)

Louisiana State Employees Retirement System bought a new position in shares of ResMed Inc. (NYSE:RMD) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 8,900 shares of the medical equipment provider’s stock, valued at approximately $1,531,000.

A number of other institutional investors have also made changes to their positions in RMD. MV Capital Management Inc. boosted its position in ResMed by 39.0% during the fourth quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock worth $37,000 after purchasing an additional 60 shares during the period. Simplicity Solutions LLC boosted its holdings in shares of ResMed by 20.6% during the 4th quarter. Simplicity Solutions LLC now owns 3,532 shares of the medical equipment provider’s stock worth $608,000 after buying an additional 604 shares during the period. Vaughan David Investments LLC IL acquired a new position in ResMed in the 4th quarter valued at about $29,322,000. Clarius Group LLC bought a new position in ResMed in the 4th quarter valued at about $245,000. Finally, Janiczek Wealth Management LLC lifted its position in ResMed by 469.8% during the fourth quarter. Janiczek Wealth Management LLC now owns 490 shares of the medical equipment provider’s stock worth $84,000 after acquiring an additional 404 shares during the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at ResMed

In other news, General Counsel Michael J. Rider sold 200 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $173.25, for a total transaction of $34,650.00. Following the completion of the sale, the general counsel now owns 6,688 shares in the company, valued at approximately $1,158,696. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, General Counsel Michael J. Rider sold 200 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $173.25, for a total transaction of $34,650.00. Following the completion of the sale, the general counsel now owns 6,688 shares in the company, valued at approximately $1,158,696. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Peter C. Farrell sold 10,935 shares of ResMed stock in a transaction that occurred on 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 disclosure for this sale can be found here. Insiders sold a total of 11,216 shares of company stock worth $2,046,617 in the last quarter. Insiders own 1.21% of the company’s stock.

ResMed Price Performance

RMD stock opened at $178.85 on Friday. The stock has a market capitalization of $26.31 billion, a PE ratio of 29.56, a price-to-earnings-growth ratio of 2.18 and a beta of 0.67. The company’s 50-day moving average is $186.18 and its 200-day moving average is $170.63. 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 1 year low of $132.24 and a 1 year high of $243.52.

ResMed (NYSE:RMD) last released its quarterly earnings data on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.81 by $0.07. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations 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 prior year, the firm earned $1.66 EPS. Equities research analysts expect that ResMed Inc. will post 7.47 EPS for the current fiscal year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Thursday, February 8th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $1.92 annualized dividend and a dividend yield of 1.07%. ResMed’s payout ratio is currently 31.74%.

Wall Street Analyst Weigh In

Several research firms have weighed in on RMD. Mizuho restated a “buy” rating and set a $215.00 target price on shares of ResMed in a research note on Wednesday, March 27th. Royal Bank of Canada upped their target price on ResMed from $181.00 to $182.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 25th. Needham & Company LLC upped their target price on ResMed from $215.00 to $224.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. UBS Group upped their target price on ResMed from $175.00 to $180.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. Finally, JPMorgan Chase & Co. upped their target price on ResMed from $160.00 to $195.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 9th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $199.20.

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.