New York State Teachers Retirement System Grows Holdings in ResMed Inc. (NYSE:RMD)

New York State Teachers Retirement System increased its holdings in ResMed Inc. (NYSE:RMD) by 0.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 131,971 shares of the medical equipment provider’s stock after acquiring an additional 1,046 shares during the quarter. New York State Teachers Retirement System owned about 0.09% of ResMed worth $30,180,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of RMD. State Street Corp increased its stake in shares of ResMed by 1.9% during the third quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider’s stock valued at $1,528,590,000 after purchasing an additional 116,918 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of ResMed by 10.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock worth $939,114,000 after buying an additional 380,383 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in ResMed by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 924,047 shares of the medical equipment provider’s stock valued at $225,578,000 after buying an additional 13,985 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in ResMed by 0.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 742,411 shares of the medical equipment provider’s stock valued at $181,237,000 after buying an additional 2,406 shares during the last quarter. Finally, Nordea Investment Management AB boosted its holdings in ResMed by 92.7% in the fourth quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider’s stock worth $103,214,000 after acquiring an additional 215,561 shares in the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on RMD. Robert W. Baird lifted their price target on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. lifted their target price on shares of ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a report on Friday, January 31st. Royal Bank of Canada raised their price target on shares of ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Finally, UBS Group raised ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $244.73.

ResMed Stock Down 2.7 %

ResMed stock opened at $232.93 on Friday. ResMed Inc. has a one year low of $170.56 and a one year high of $263.05. The stock has a fifty day moving average of $238.51 and a 200 day moving average of $238.47. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. The stock has a market cap of $34.21 billion, a PE ratio of 27.50, a price-to-earnings-growth ratio of 1.57 and a beta of 0.70.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. As a group, sell-side analysts predict that ResMed Inc. will post 9.44 EPS for the current year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 0.91%. ResMed’s dividend payout ratio (DPR) is 25.03%.

Insider Buying and Selling

In other news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total transaction of $491,300.00. Following the sale, the director now directly owns 81,218 shares in the company, valued at $19,951,201.70. This trade represents a 2.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the completion of the transaction, the chief executive officer now directly owns 455,472 shares of the company’s stock, valued at $107,842,105.44. This represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,307 shares of company stock valued at $4,403,180. 0.71% of the stock is owned by company insiders.

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.