Illinois Municipal Retirement Fund Boosts Stock Holdings in ResMed Inc. $RMD

Illinois Municipal Retirement Fund raised its position in shares of ResMed Inc. (NYSE:RMD) by 36.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,355 shares of the medical equipment provider’s stock after purchasing an additional 2,505 shares during the period. Illinois Municipal Retirement Fund’s holdings in ResMed were worth $2,561,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of ResMed by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 18,746,925 shares of the medical equipment provider’s stock worth $4,836,707,000 after acquiring an additional 253,223 shares during the period. State Street Corp lifted its holdings in ResMed by 1.0% during the second quarter. State Street Corp now owns 6,615,852 shares of the medical equipment provider’s stock valued at $1,706,890,000 after purchasing an additional 64,448 shares during the last quarter. Geode Capital Management LLC boosted its position in ResMed by 2.4% during the second quarter. Geode Capital Management LLC now owns 4,215,145 shares of the medical equipment provider’s stock worth $1,083,409,000 after purchasing an additional 98,717 shares during the period. Norges Bank bought a new position in ResMed during the second quarter worth about $306,452,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of ResMed by 2.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,021,001 shares of the medical equipment provider’s stock worth $263,418,000 after purchasing an additional 22,873 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other ResMed news, Director Witte Jan De sold 2,055 shares of ResMed stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $255.00, for a total transaction of $524,025.00. Following the completion of the sale, the director directly owned 4,261 shares in the company, valued at $1,086,555. The trade was a 32.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $251.31, for a total transaction of $502,620.00. Following the completion of the transaction, the director directly owned 64,773 shares in the company, valued at $16,278,102.63. The trade was a 3.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 18,137 shares of company stock worth $4,658,832. Insiders own 0.65% of the company’s stock.

ResMed Trading Up 2.7%

ResMed stock opened at $252.47 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.32 and a current ratio of 3.06. ResMed Inc. has a fifty-two week low of $199.92 and a fifty-two week high of $293.81. The stock has a market cap of $36.78 billion, a P/E ratio of 24.97, a PEG ratio of 1.68 and a beta of 0.87. The firm’s fifty day moving average price is $252.55 and its 200-day moving average price is $262.74.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, January 29th. The medical equipment provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.68 by $0.13. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.40 billion. ResMed had a return on equity of 25.20% and a net margin of 27.53%.The firm’s revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.43 earnings per share. Equities research analysts forecast 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 will be paid on Thursday, March 19th. Investors of record on Thursday, February 12th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Thursday, February 12th. ResMed’s dividend payout ratio is 23.74%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on RMD shares. Morgan Stanley set a $305.00 price target on shares of ResMed in a research note on Friday, October 31st. Wells Fargo & Company boosted their target price on shares of ResMed from $265.00 to $270.00 and gave the company an “equal weight” rating in a report on Friday, January 30th. UBS Group restated a “buy” rating and set a $345.00 target price on shares of ResMed in a research report on Friday, December 12th. Citigroup lifted their price target on ResMed from $330.00 to $345.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Finally, Royal Bank Of Canada boosted their price objective on ResMed from $311.00 to $314.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, ResMed has a consensus rating of “Moderate Buy” and an average price target of $299.27.

About ResMed

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.