Retirement Systems of Alabama Sells 804 Shares of ResMed Inc. (NYSE:RMD)

Retirement Systems of Alabama lowered its holdings in ResMed Inc. (NYSE:RMD) by 2.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,418 shares of the medical equipment provider’s stock after selling 804 shares during the quarter. Retirement Systems of Alabama’s holdings in ResMed were worth $5,577,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of RMD. Cambridge Investment Research Advisors Inc. raised its stake in shares of ResMed by 52.1% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 5,442 shares of the medical equipment provider’s stock worth $805,000 after acquiring an additional 1,863 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of ResMed by 11.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,017 shares of the medical equipment provider’s stock worth $7,692,000 after acquiring an additional 5,457 shares in the last quarter. Mackenzie Financial Corp raised its stake in shares of ResMed by 12.6% during the 3rd quarter. Mackenzie Financial Corp now owns 151,505 shares of the medical equipment provider’s stock worth $21,906,000 after acquiring an additional 16,966 shares in the last quarter. IFM Investors Pty Ltd raised its stake in shares of ResMed by 3.2% during the 3rd quarter. IFM Investors Pty Ltd now owns 29,262 shares of the medical equipment provider’s stock worth $4,327,000 after acquiring an additional 914 shares in the last quarter. Finally, Washington Capital Management Inc. bought a new position in shares of ResMed during the 3rd quarter worth approximately $325,000. Institutional investors own 54.98% of the company’s stock.

ResMed Stock Down 0.5 %

RMD stock opened at $216.98 on Monday. The firm’s fifty day simple moving average is $190.52 and its 200-day simple moving average is $174.99. The company has a market capitalization of $31.88 billion, a P/E ratio of 33.33, a price-to-earnings-growth ratio of 2.68 and a beta of 0.64. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.04 and a quick ratio of 1.97. ResMed Inc. has a 12 month low of $132.24 and a 12 month high of $237.26.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.91 by $0.22. ResMed had a net margin of 20.91% and a return on equity of 24.43%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the firm posted $1.68 earnings per share. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, equities research analysts forecast that ResMed Inc. will post 7.59 earnings per share for the current year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 9th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Wednesday, May 8th. ResMed’s dividend payout ratio (DPR) is presently 29.49%.

Analysts Set New Price Targets

Several research analysts recently commented on RMD shares. KeyCorp boosted their price objective on shares of ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Royal Bank of Canada upped their price target on shares of ResMed from $187.00 to $200.00 and gave the company a “sector perform” rating in a research note on Friday, April 26th. UBS Group upped their price target on shares of ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday, January 25th. Oppenheimer cut their price target on shares of ResMed from $205.00 to $200.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. Finally, Needham & Company LLC upped their price target on shares of ResMed from $224.00 to $236.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, ResMed presently has an average rating of “Moderate Buy” and an average target price of $202.80.

Insider Buying and Selling

In related news, Director Karen Drexler sold 425 shares of the stock in a transaction on Monday, April 29th. The shares were sold at an average price of $214.92, for a total transaction of $91,341.00. Following the sale, the director now directly owns 8,446 shares of the company’s stock, valued at $1,815,214.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other ResMed news, Director Karen Drexler sold 425 shares of the stock in a transaction on Monday, April 29th. The shares were sold at an average price of $214.92, for a total transaction of $91,341.00. Following the transaction, the director now directly owns 8,446 shares of the company’s stock, valued at $1,815,214.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, General Counsel Michael J. Rider sold 200 shares of the stock in a transaction 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 transaction, the general counsel now directly owns 6,688 shares in the company, valued at $1,158,696. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,641 shares of company stock valued at $2,137,958. Corporate insiders own 1.21% of the company’s stock.

About ResMed

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.