VIRGINIA RETIREMENT SYSTEMS ET Al Purchases 3,200 Shares of ResMed Inc. $RMD

VIRGINIA RETIREMENT SYSTEMS ET Al raised its position in shares of ResMed Inc. (NYSE:RMD) by 2.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 136,700 shares of the medical equipment provider’s stock after acquiring an additional 3,200 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.09% of ResMed worth $37,419,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of RMD. WFA of San Diego LLC purchased a new stake in ResMed during the second quarter valued at $26,000. Harbour Investments Inc. increased its holdings in shares of ResMed by 264.2% in the 2nd quarter. Harbour Investments Inc. now owns 244 shares of the medical equipment provider’s stock worth $63,000 after buying an additional 177 shares during the last quarter. Quarry LP increased its holdings in shares of ResMed by 141.1% in the 1st quarter. Quarry LP now owns 311 shares of the medical equipment provider’s stock worth $70,000 after buying an additional 182 shares during the last quarter. Virtus Advisers LLC purchased a new stake in shares of ResMed during the 2nd quarter valued at about $77,000. Finally, Ameritas Advisory Services LLC bought a new position in shares of ResMed in the 2nd quarter valued at about $83,000. 54.98% of the stock is owned by hedge funds and other institutional investors.

ResMed Stock Up 0.1%

Shares of RMD opened at $243.19 on Wednesday. The firm has a fifty day moving average price of $250.19 and a 200-day moving average price of $263.62. 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 firm has a market capitalization of $35.49 billion, a P/E ratio of 24.89, a P/E/G ratio of 1.64 and a beta of 0.87. ResMed Inc. has a 12-month low of $199.92 and a 12-month high of $293.81.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.06. The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.33 billion. ResMed had a net margin of 27.35% and a return on equity of 25.45%. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter last year, the business posted $2.20 EPS. Equities research analysts expect that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, November 13th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Thursday, November 13th. ResMed’s payout ratio is currently 24.56%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on RMD shares. Baird R W cut ResMed from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. Weiss Ratings reiterated a “hold (c+)” rating on shares of ResMed in a report on Monday. Citigroup initiated coverage on ResMed in a research report on Thursday, September 18th. They set a “buy” rating and a $330.00 target price on the stock. Royal Bank Of Canada raised their price target on ResMed from $300.00 to $303.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. Finally, Wells Fargo & Company initiated coverage on shares of ResMed in a research report on Monday, October 13th. They set an “equal weight” rating and a $280.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, ResMed presently has a consensus rating of “Moderate Buy” and a consensus target price of $296.09.

Insider Activity at ResMed

In related news, Director Witte Jan De sold 2,055 shares of the stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $255.00, for a total value of $524,025.00. Following the transaction, the director owned 4,261 shares of the company’s stock, valued at $1,086,555. This represents a 32.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael J. Farrell sold 8,011 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $249.75, for a total value of $2,000,747.25. Following the transaction, the chief executive officer owned 467,866 shares in the company, valued at $116,849,533.50. The trade was a 1.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 22,562 shares of company stock worth $5,919,030. Company insiders own 0.65% of the company’s stock.

ResMed Company 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.