Commonwealth of Pennsylvania Public School Empls Retrmt SYS Cuts Stock Position in ResMed Inc. (NYSE:RMD)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its position in shares of ResMed Inc. (NYSE:RMD) by 2.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,213 shares of the medical equipment provider’s stock after selling 773 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in ResMed were worth $7,138,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Howard Capital Management Inc. raised its position 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 acquiring an additional 45 shares in the last quarter. Ascent Group LLC raised its position in ResMed by 1.7% during the third quarter. Ascent Group LLC now owns 2,924 shares of the medical equipment provider’s stock valued at $714,000 after acquiring an additional 48 shares in the last quarter. SkyView Investment Advisors LLC raised its position in ResMed by 2.0% during the third quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider’s stock valued at $637,000 after acquiring an additional 51 shares in the last quarter. Wedmont Private Capital raised its position in ResMed by 2.6% during the fourth quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider’s stock valued at $475,000 after acquiring an additional 52 shares in the last quarter. Finally, Brooklyn Investment Group raised its position in ResMed by 8.1% during the fourth quarter. Brooklyn Investment Group now owns 911 shares of the medical equipment provider’s stock valued at $208,000 after acquiring an additional 68 shares in the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Peter C. Farrell sold 2,000 shares of the 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 transaction, the director now owns 77,218 shares of the company’s stock, valued at approximately $18,695,249.98. This represents a 2.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $236.77, for a total value of $1,896,290.93. Following the transaction, the chief executive officer now directly owns 455,472 shares in the company, valued at approximately $107,842,105.44. The trade was a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,940 shares of company stock valued at $9,164,385 in the last quarter. Insiders own 0.71% of the company’s stock.

ResMed Stock Performance

NYSE RMD opened at $219.77 on Friday. ResMed Inc. has a fifty-two week low of $172.19 and a fifty-two week high of $263.05. The stock’s fifty day moving average is $234.91 and its two-hundred day moving average is $239.06. The firm has a market capitalization of $32.28 billion, a P/E ratio of 25.95, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. On average, research analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.96%. The ex-dividend date was Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is presently 25.03%.

Analyst Ratings Changes

A number of research firms have recently commented on RMD. The Goldman Sachs Group began coverage on ResMed in a research report on Thursday, January 16th. They issued a “buy” rating for the company. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a research report on Saturday, March 15th. Citigroup upgraded ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 5th. JPMorgan Chase & Co. boosted their price target on ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, Morgan Stanley started coverage on ResMed in a research report on Wednesday. They set an “overweight” rating and a $280.00 price target for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, ResMed currently has a consensus rating of “Moderate Buy” and a consensus target price of $246.83.

About ResMed

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.