Employees Retirement System of Texas Invests $3.04 Million in ResMed Inc. (RMD)

Employees Retirement System of Texas acquired a new position in shares of ResMed Inc. (NYSE:RMD) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 39,000 shares of the medical equipment provider’s stock, valued at approximately $3,037,000.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in ResMed by 6.8% in the 2nd quarter. BlackRock Inc. now owns 14,240,077 shares of the medical equipment provider’s stock valued at $1,108,877,000 after purchasing an additional 904,939 shares in the last quarter. Vanguard Group Inc. increased its holdings in ResMed by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 11,914,671 shares of the medical equipment provider’s stock valued at $927,797,000 after purchasing an additional 378,964 shares in the last quarter. FMR LLC increased its holdings in ResMed by 38.2% in the 2nd quarter. FMR LLC now owns 5,542,582 shares of the medical equipment provider’s stock valued at $431,601,000 after purchasing an additional 1,531,772 shares in the last quarter. State Street Corp increased its holdings in ResMed by 2.1% in the 1st quarter. State Street Corp now owns 4,598,911 shares of the medical equipment provider’s stock valued at $330,983,000 after purchasing an additional 95,552 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in ResMed by 1.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,266,663 shares of the medical equipment provider’s stock valued at $176,505,000 after purchasing an additional 25,925 shares in the last quarter. Institutional investors and hedge funds own 60.10% of the company’s stock.

ResMed (NYSE:RMD) last posted its earnings results on Tuesday, August 1st. The medical equipment provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.75 by $0.02. ResMed had a net margin of 16.56% and a return on equity of 21.99%. The business had revenue of $556.69 million for the quarter, compared to the consensus estimate of $557.68 million. During the same period last year, the company earned $0.74 EPS. The firm’s revenue was up 7.3% compared to the same quarter last year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 21st. Investors of record on Thursday, August 17th were given a dividend of $0.35 per share. The ex-dividend date was Tuesday, August 15th. This is an increase from ResMed’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a yield of 1.79%. ResMed’s dividend payout ratio (DPR) is currently 58.09%.

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In other news, insider David Pendarvis sold 6,364 shares of ResMed stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $72.10, for a total value of $458,844.40. Following the completion of the sale, the insider now owns 84,476 shares in the company, valued at approximately $6,090,719.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter C. Farrell sold 20,000 shares of ResMed stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $77.01, for a total transaction of $1,540,200.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 107,232 shares of company stock worth $8,109,182. 1.77% of the stock is owned by corporate insiders.

RMD has been the subject of several recent analyst reports. Jefferies Group LLC restated a “sell” rating and set a $56.00 target price on shares of ResMed in a research note on Thursday, October 12th. Zacks Investment Research upgraded ResMed from a “hold” rating to a “buy” rating and set a $87.00 target price for the company in a research note on Thursday, July 6th. Needham & Company LLC restated a “sell” rating on shares of ResMed in a research note on Friday, September 8th. Citigroup Inc. upgraded ResMed from a “neutral” rating to a “buy” rating in a research note on Wednesday, August 2nd. Finally, Credit Suisse Group downgraded ResMed from an “outperform” rating to a “neutral” rating in a research note on Wednesday, August 2nd. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. ResMed presently has an average rating of “Hold” and a consensus target price of $68.33.

ResMed Profile

ResMed Inc is a holding company. The Company is engaged in the development, manufacturing, distribution and marketing of medical devices and cloud-based software applications that diagnose, treat and manage respiratory disorders, including sleep disordered breathing (SDB), chronic obstructive pulmonary disease (COPD), neuromuscular disease and other diseases.

Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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