Teacher Retirement System of Texas Lowers Stake in ResMed Inc. (NYSE:RMD)

Teacher Retirement System of Texas cut its position in shares of ResMed Inc. (NYSE:RMD) by 2.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 168,083 shares of the medical equipment provider’s stock after selling 4,778 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.11% of ResMed worth $38,439,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. First Horizon Advisors Inc. grew its holdings in shares of ResMed by 285.1% during the fourth quarter. First Horizon Advisors Inc. now owns 593 shares of the medical equipment provider’s stock worth $136,000 after buying an additional 439 shares in the last quarter. Peak Financial Advisors LLC acquired a new stake in shares of ResMed in the fourth quarter worth approximately $2,972,000. Principal Financial Group Inc. boosted its position in shares of ResMed by 2.9% in the third quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider’s stock worth $45,596,000 after acquiring an additional 5,284 shares during the last quarter. Spire Wealth Management boosted its position in shares of ResMed by 11.3% in the fourth quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider’s stock worth $2,470,000 after acquiring an additional 1,100 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its position in shares of ResMed by 2.8% in the fourth quarter. Asset Management One Co. Ltd. now owns 60,489 shares of the medical equipment provider’s stock worth $14,105,000 after acquiring an additional 1,629 shares during the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

ResMed Trading Down 0.4 %

NYSE RMD opened at $221.13 on Friday. The company’s fifty day simple moving average is $235.19 and its 200-day simple moving average is $239.24. ResMed Inc. has a 52 week low of $172.19 and a 52 week 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 stock has a market cap of $32.48 billion, a P/E ratio of 26.11, a PEG ratio of 1.53 and a beta of 0.74.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, topping 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%. Equities research analysts predict that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

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

Insider Buying and Selling

In related news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total value of $484,220.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kaushik Ghoshal sold 9,113 shares of ResMed stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the completion of the sale, the insider now owns 9,725 shares of the company’s stock, valued at approximately $2,289,265. This trade represents a 48.38 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,940 shares of company stock worth $9,164,385. Insiders own 0.71% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on RMD shares. KeyCorp raised their target price on shares of ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research report on Saturday, March 15th. JPMorgan Chase & Co. raised their target price on shares of ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. UBS Group raised shares of ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Finally, Stifel Nicolaus reduced their price target on shares of ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, ResMed presently has an average rating of “Moderate Buy” and an average target price of $246.83.

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.