Employees Retirement System of Texas Purchases Shares of 22,300 ResMed Inc. $RMD

Employees Retirement System of Texas acquired a new stake in shares of ResMed Inc. (NYSE:RMD) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,300 shares of the medical equipment provider’s stock, valued at approximately $5,753,000.

Other large investors also recently made changes to their positions in the company. Zions Bancorporation National Association UT acquired a new position in ResMed during the 1st quarter worth approximately $45,000. Groupe la Francaise acquired a new stake in ResMed in the first quarter valued at approximately $45,000. Harbour Investments Inc. increased its holdings in shares of ResMed by 264.2% during the second quarter. Harbour Investments Inc. now owns 244 shares of the medical equipment provider’s stock valued at $63,000 after acquiring an additional 177 shares in the last quarter. Quarry LP raised its position in shares of ResMed by 141.1% during the first quarter. Quarry LP now owns 311 shares of the medical equipment provider’s stock worth $70,000 after purchasing an additional 182 shares during the period. Finally, Ameritas Advisory Services LLC acquired a new position in shares of ResMed during the second quarter worth approximately $83,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. William Blair raised shares of ResMed to a “strong-buy” rating in a research report on Friday, August 1st. KeyCorp lifted their price objective on shares of ResMed from $298.00 to $299.00 and gave the company an “overweight” rating in a report on Friday, October 31st. Weiss Ratings reissued a “hold (c+)” rating on shares of ResMed in a research report on Thursday, November 20th. Piper Sandler raised their price target on shares of ResMed from $248.00 to $270.00 and gave the company a “neutral” rating in a research report on Friday, August 1st. Finally, CLSA upgraded ResMed from a “hold” rating to an “outperform” rating in a research note on Tuesday, September 2nd. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $297.45.

ResMed Trading Down 0.2%

Shares of RMD stock opened at $255.23 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.53 and a current ratio of 3.44. The company has a market capitalization of $37.25 billion, a price-to-earnings ratio of 26.84, a PEG ratio of 1.75 and a beta of 0.87. ResMed Inc. has a 52-week low of $199.92 and a 52-week high of $293.81. The company has a 50-day simple moving average of $262.31 and a two-hundred day simple moving average of $263.43.

ResMed (NYSE:RMD) last posted its earnings results on Friday, October 31st. The medical equipment provider reported $2.55 EPS for the quarter, topping the consensus estimate of $2.49 by $0.06. The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.33 billion. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.20 EPS. Research analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, November 13th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Thursday, November 13th. ResMed’s payout ratio is presently 24.56%.

Insider Activity at ResMed

In other ResMed news, General Counsel Michael J. Rider sold 100 shares of ResMed stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $274.36, for a total transaction of $27,436.00. Following the completion of the transaction, the general counsel owned 11,327 shares of the company’s stock, valued at $3,107,675.72. The trade was a 0.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Witte Jan De sold 2,055 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $255.00, for a total transaction of $524,025.00. Following the sale, the director directly owned 4,261 shares in the company, valued at $1,086,555. This trade represents a 32.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 20,662 shares of company stock valued at $5,443,526 in the last three months. Insiders own 0.65% of the company’s stock.

ResMed Company Profile

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.