ResMed Inc. $RMD Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas decreased its holdings in shares of ResMed Inc. (NYSE:RMD) by 25.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,273 shares of the medical equipment provider’s stock after selling 8,393 shares during the period. Teacher Retirement System of Texas’ holdings in ResMed were worth $6,644,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. SJS Investment Consulting Inc. increased its stake in shares of ResMed by 1,433.3% during the third quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 86 shares during the period. WFA of San Diego LLC acquired a new position in shares of ResMed during the 2nd quarter worth approximately $26,000. GoalVest Advisory LLC purchased a new stake in ResMed in the 3rd quarter valued at approximately $37,000. Root Financial Partners LLC acquired a new stake in ResMed during the 3rd quarter valued at $64,000. Finally, Harbour Investments Inc. increased its position in ResMed by 264.2% during the second quarter. Harbour Investments Inc. now owns 244 shares of the medical equipment provider’s stock worth $63,000 after buying an additional 177 shares in the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Stock Performance

Shares of RMD stock opened at $255.46 on Tuesday. The company has a current ratio of 2.89, a quick ratio of 2.13 and a debt-to-equity ratio of 0.07. The company has a market cap of $37.28 billion, a PE ratio of 26.15, a P/E/G ratio of 1.70 and a beta of 0.88. The company’s fifty day simple moving average is $250.17 and its 200-day simple moving average is $263.26. ResMed Inc. has a 52 week low of $199.92 and a 52 week high of $293.81.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.06. ResMed had a return on equity of 25.45% and a net margin of 27.35%.The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the prior year, the firm earned $2.20 EPS. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. As a group, equities research analysts anticipate that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, November 13th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Thursday, November 13th. ResMed’s dividend payout ratio (DPR) is presently 24.56%.

Insider Buying and Selling

In other ResMed news, Director Witte Jan De sold 2,055 shares of ResMed 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. The trade was a 32.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $248.83, for a total transaction of $497,660.00. Following the completion of the sale, the director directly owned 66,773 shares in the company, valued at $16,615,125.59. This represents a 2.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 21,594 shares of company stock valued at $5,403,495. Corporate insiders own 0.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Robert W. Baird restated a “neutral” rating and issued a $275.00 target price (down from $300.00) on shares of ResMed in a report on Tuesday, December 16th. Royal Bank Of Canada lifted their target price on shares of ResMed from $300.00 to $303.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. Weiss Ratings reiterated a “hold (c+)” rating on shares of ResMed in a report on Monday, December 29th. Morgan Stanley set a $305.00 price objective on ResMed in a report on Friday, October 31st. Finally, Mizuho lowered their price objective on ResMed from $310.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, ResMed has a consensus rating of “Moderate Buy” and a consensus target price of $296.09.

About ResMed

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.