Teacher Retirement System of Texas boosted its holdings in shares of ResMed Inc. (NYSE:RMD) by 56.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,458 shares of the medical equipment provider’s stock after buying an additional 20,123 shares during the quarter. Teacher Retirement System of Texas’ holdings in ResMed were worth $10,760,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Endurance Wealth Management Inc. purchased a new position in ResMed during the first quarter valued at approximately $27,000. Regent Peak Wealth Advisors LLC purchased a new position in ResMed in the fourth quarter worth $30,000. Capital Asset Advisory Services LLC purchased a new position in ResMed in the fourth quarter worth $34,000. First Quadrant L P CA purchased a new position in ResMed in the first quarter worth $35,000. Finally, Migdal Insurance & Financial Holdings Ltd. grew its holdings in ResMed by 52.4% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 218 shares of the medical equipment provider’s stock worth $42,000 after purchasing an additional 75 shares during the last quarter. 67.26% of the stock is currently owned by institutional investors.
RMD has been the topic of several analyst reports. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised shares of ResMed from a “neutral” rating to a “buy” rating in a report on Tuesday, May 11th. CLSA raised shares of ResMed from a “sell” rating to an “outperform” rating in a report on Wednesday. Needham & Company LLC raised shares of ResMed from a “hold” rating to a “buy” rating and set a $229.00 price target on the stock in a report on Tuesday, March 16th. Citigroup upgraded shares of ResMed from a “neutral” rating to a “buy” rating in a research note on Tuesday, May 11th. Finally, JPMorgan Chase & Co. upgraded shares of ResMed from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $206.00 to $219.00 in a research note on Friday, May 21st. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $207.43.
ResMed (NYSE:RMD) last posted its earnings results on Thursday, April 29th. The medical equipment provider reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.08. ResMed had a net margin of 14.79% and a return on equity of 28.85%. As a group, equities analysts predict that ResMed Inc. will post 5.26 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 17th. Investors of record on Thursday, May 13th will be given a dividend of $0.39 per share. The ex-dividend date is Wednesday, May 12th. This represents a $1.56 dividend on an annualized basis and a yield of 0.71%. ResMed’s dividend payout ratio is presently 32.77%.
In other ResMed news, insider David Pendarvis sold 1,487 shares of the company’s stock in a transaction dated Thursday, June 3rd. The shares were sold at an average price of $207.00, for a total value of $307,809.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Robert Andrew Douglas sold 964 shares of the company’s stock in a transaction dated Thursday, April 15th. The stock was sold at an average price of $207.45, for a total transaction of $199,981.80. Following the completion of the transaction, the chief operating officer now owns 16,701 shares of the company’s stock, valued at approximately $3,464,622.45. The disclosure for this sale can be found here. Insiders have sold 26,719 shares of company stock valued at $5,282,179 over the last 90 days. 1.33% of the stock is currently owned by insiders.
ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep apnea, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service.
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