ResMed Inc. (NYSE:RMD) Stake Decreased by New York State Common Retirement Fund

New York State Common Retirement Fund cut its holdings in shares of ResMed Inc. (NYSE:RMD - Free Report) by 4.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 101,201 shares of the medical equipment provider's stock after selling 4,600 shares during the period. New York State Common Retirement Fund owned about 0.07% of ResMed worth $22,654,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Global X Japan Co. Ltd. grew its stake in shares of ResMed by 121.4% during the first quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider's stock valued at $28,000 after acquiring an additional 68 shares in the last quarter. Colonial Trust Co SC grew its stake in shares of ResMed by 6,250.0% during the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider's stock valued at $29,000 after acquiring an additional 125 shares in the last quarter. Optiver Holding B.V. acquired a new position in ResMed in the fourth quarter worth about $33,000. Golden State Wealth Management LLC grew its stake in ResMed by 384.8% in the first quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider's stock worth $36,000 after purchasing an additional 127 shares in the last quarter. Finally, Itau Unibanco Holding S.A. grew its stake in ResMed by 1,000.0% in the fourth quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider's stock worth $38,000 after purchasing an additional 150 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on RMD shares. Wall Street Zen downgraded ResMed from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Morgan Stanley set a $286.00 price target on ResMed and gave the stock an "overweight" rating in a research note on Tuesday, May 20th. UBS Group decreased their price target on ResMed from $290.00 to $285.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Mizuho lifted their price target on ResMed from $250.00 to $270.00 and gave the stock an "outperform" rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. lifted their price target on ResMed from $286.00 to $290.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $263.00.

ResMed Stock Performance

RMD stock traded up $0.49 during midday trading on Friday, reaching $256.91. The company had a trading volume of 183,286 shares, compared to its average volume of 965,676. The company has a quick ratio of 2.49, a current ratio of 3.41 and a debt-to-equity ratio of 0.12. The stock has a 50 day moving average price of $251.28 and a 200 day moving average price of $237.32. ResMed Inc. has a fifty-two week low of $196.43 and a fifty-two week high of $263.05. The firm has a market capitalization of $37.67 billion, a PE ratio of 28.82, a P/E/G ratio of 1.59 and a beta of 0.77.

ResMed (NYSE:RMD - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, beating analysts' consensus estimates of $2.36 by $0.01. ResMed had a return on equity of 25.67% and a net margin of 26.15%. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the previous year, the firm posted $2.13 earnings per share. ResMed's quarterly revenue was up 7.9% compared to the same quarter last year. 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, June 12th. Stockholders of record on Thursday, May 8th were issued a dividend of $0.53 per share. The ex-dividend date was Thursday, May 8th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.83%. ResMed's dividend payout ratio (DPR) is presently 23.79%.

Insider Activity

In other news, Director Witte Jan De sold 2,000 shares of ResMed stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $243.47, for a total transaction of $486,940.00. Following the sale, the director owned 5,806 shares of the company's stock, valued at approximately $1,413,586.82. The trade was a 25.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Peter C. Farrell sold 945 shares of ResMed stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $255.49, for a total value of $241,438.05. Following the sale, the director directly owned 68,273 shares in the company, valued at approximately $17,443,068.77. This trade represents a 1.37% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,013 shares of company stock valued at $7,238,913. Insiders own 0.71% of the company's stock.

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.