ResMed Inc. (NYSE:RMD) Position Trimmed by Teacher Retirement System of Texas

Teacher Retirement System of Texas decreased its holdings in shares of ResMed Inc. (NYSE:RMD) by 2.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 168,083 shares of the medical equipment provider’s stock after selling 4,778 shares during the period. Teacher Retirement System of Texas’ holdings in ResMed were worth $38,439,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Howard Capital Management Inc. increased its stake in ResMed by 5.3% during the fourth quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider’s stock valued at $206,000 after purchasing an additional 45 shares during the last quarter. Ascent Group LLC grew its position in shares of ResMed by 1.7% during the third quarter. Ascent Group LLC now owns 2,924 shares of the medical equipment provider’s stock worth $714,000 after acquiring an additional 48 shares during the last quarter. SkyView Investment Advisors LLC grew its position in shares of ResMed by 2.0% during the third quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider’s stock worth $637,000 after acquiring an additional 51 shares during the last quarter. Wedmont Private Capital grew its position in shares of ResMed by 2.6% during the fourth quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider’s stock worth $475,000 after acquiring an additional 52 shares during the last quarter. Finally, Brooklyn Investment Group grew its position in shares of ResMed by 8.1% during the fourth quarter. Brooklyn Investment Group now owns 911 shares of the medical equipment provider’s stock worth $208,000 after acquiring an additional 68 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on RMD shares. Morgan Stanley started coverage on shares of ResMed in a research report on Wednesday. They set an “overweight” rating and a $280.00 price target for the company. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research report on Friday, January 31st. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research report on Saturday, March 15th. Piper Sandler upped their price target on shares of ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. upped their price objective on shares of ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $246.83.

Insiders Place Their Bets

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total transaction of $484,220.00. Following the sale, the director now owns 77,218 shares in the company, valued at approximately $18,695,249.98. The trade was a 2.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kaushik Ghoshal sold 9,745 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $239.31, for a total value of $2,332,075.95. Following the sale, the insider now owns 9,725 shares in the company, valued at approximately $2,327,289.75. The trade was a 50.05 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,940 shares of company stock worth $9,164,385. Company insiders own 0.71% of the company’s stock.

ResMed Price Performance

Shares of NYSE RMD opened at $221.13 on Friday. ResMed Inc. has a twelve month low of $172.19 and a twelve month high of $263.05. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $32.48 billion, a price-to-earnings ratio of 26.11, a PEG ratio of 1.53 and a beta of 0.74. The firm has a 50-day moving average of $235.19 and a two-hundred day moving average of $239.24.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates 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, analysts expect that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were issued a dividend of $0.53 per share. The ex-dividend date was Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 0.96%. ResMed’s payout ratio is presently 25.03%.

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.