California State Teachers Retirement System Has $49.97 Million Position in ResMed Inc. $RMD

California State Teachers Retirement System lessened its holdings in ResMed Inc. (NYSE:RMD) by 2.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 222,621 shares of the medical equipment provider’s stock after selling 5,931 shares during the quarter. California State Teachers Retirement System owned 0.15% of ResMed worth $49,974,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in RMD. Hsbc Holdings PLC grew its position in ResMed by 17.6% during the 4th quarter. Hsbc Holdings PLC now owns 328,785 shares of the medical equipment provider’s stock worth $79,321,000 after acquiring an additional 49,253 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in ResMed by 13.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 979,087 shares of the medical equipment provider’s stock valued at $235,833,000 after purchasing an additional 118,296 shares during the last quarter. Fideuram Asset Management Ireland dac bought a new stake in ResMed in the fourth quarter valued at approximately $4,712,000. Legal & General Group Plc boosted its stake in shares of ResMed by 3.6% during the fourth quarter. Legal & General Group Plc now owns 992,527 shares of the medical equipment provider’s stock valued at $239,070,000 after purchasing an additional 34,317 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of ResMed by 23.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,810 shares of the medical equipment provider’s stock valued at $5,735,000 after purchasing an additional 4,541 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Price Performance

Shares of RMD stock opened at $208.64 on Friday. The business’s fifty day moving average is $198.79 and its 200 day moving average is $223.67. The company has a quick ratio of 2.33, a current ratio of 3.01 and a debt-to-equity ratio of 0.06. The stock has a market cap of $30.27 billion, a price-to-earnings ratio of 20.12, a PEG ratio of 1.30 and a beta of 0.78. ResMed Inc. has a twelve month low of $180.26 and a twelve month high of $293.81.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 EPS for the quarter, beating analysts’ consensus estimates of $2.79 by $0.07. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.42 billion. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The company’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.37 EPS. Research analysts expect that ResMed Inc. will post 11.14 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on RMD shares. UBS Group reissued a “buy” rating and issued a $300.00 price target on shares of ResMed in a report on Tuesday, July 21st. Robert W. Baird set a $225.00 target price on ResMed in a research note on Friday, May 1st. Morgan Stanley restated an “equal weight” rating and set a $230.00 price target (down from $286.00) on shares of ResMed in a report on Wednesday, June 17th. Royal Bank Of Canada cut ResMed from an “outperform” rating to a “sector perform” rating and set a $234.00 price objective for the company. in a report on Thursday, July 16th. Finally, Evercore set a $255.00 price objective on ResMed and gave the stock an “outperform” rating in a research report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $246.25.

Insider Buying and Selling

In other ResMed news, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $218.55, for a total transaction of $1,090,783.05. Following the completion of the transaction, the chief executive officer owned 466,223 shares of the company’s stock, valued at approximately $101,893,036.65. This trade represents a 1.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 14,973 shares of company stock worth $3,096,067 over the last 90 days. Insiders own 0.65% of the company’s stock.

ResMed Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.