New York State Teachers Retirement System Has $27.73 Million Stake in ResMed Inc. (NYSE:RMD)

New York State Teachers Retirement System lowered its stake in shares of ResMed Inc. (NYSE:RMD - Free Report) by 6.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 123,873 shares of the medical equipment provider's stock after selling 8,098 shares during the period. New York State Teachers Retirement System owned approximately 0.08% of ResMed worth $27,729,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Global X Japan Co. Ltd. boosted its stake in ResMed by 121.4% during the 1st quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider's stock worth $28,000 after acquiring an additional 68 shares during the last quarter. Colonial Trust Co SC raised its holdings in ResMed by 6,250.0% in the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider's stock worth $29,000 after purchasing an additional 125 shares during the period. Optiver Holding B.V. bought a new position in shares of ResMed during the fourth quarter worth $33,000. Golden State Wealth Management LLC boosted its position in shares of ResMed by 384.8% during 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 holdings in shares of ResMed by 1,000.0% in the 4th quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider's stock valued at $38,000 after buying an additional 150 shares during the period. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on RMD. UBS Group dropped their price objective on ResMed from $290.00 to $285.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Stifel Nicolaus dropped their price target on ResMed from $250.00 to $240.00 and set a "hold" rating on the stock in a research report on Wednesday, March 5th. Royal Bank Of Canada lifted their price objective on ResMed from $247.00 to $255.00 and gave the company a "sector perform" rating in a report on Thursday, April 24th. Morgan Stanley set a $286.00 target price on ResMed and gave the stock an "overweight" rating in a research note on Tuesday, May 20th. Finally, JPMorgan Chase & Co. raised their target price on shares of ResMed from $286.00 to $290.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $259.33.

ResMed Stock Up 0.4%

NYSE RMD traded up $1.08 during trading on Thursday, hitting $256.96. The stock had a trading volume of 391,893 shares, compared to its average volume of 969,821. ResMed Inc. has a 12 month low of $188.56 and a 12 month high of $263.05. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.49 and a current ratio of 3.41. The company's 50-day moving average price is $247.59 and its two-hundred day moving average price is $235.70. The company has a market capitalization of $37.68 billion, a PE ratio of 28.84, a P/E/G ratio of 1.60 and a beta of 0.77.

ResMed (NYSE:RMD - Get Free Report) last released its earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share for the quarter, beating analysts' consensus estimates of $2.36 by $0.01. ResMed had a net margin of 26.15% and a return on equity of 25.67%. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the firm earned $2.13 earnings per share. The firm's revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, sell-side analysts forecast that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.83%. The ex-dividend date was Thursday, May 8th. ResMed's payout ratio is presently 23.79%.

Insider Buying and Selling

In other news, CEO Michael J. Farrell sold 8,009 shares of the business's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $209.85, for a total transaction of $1,680,688.65. Following the transaction, the chief executive officer directly owned 455,472 shares in the company, valued at $95,580,799.20. The trade was a 1.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Peter C. Farrell sold 2,000 shares of the firm's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $242.25, for a total transaction of $484,500.00. Following the completion of the sale, the director owned 71,218 shares of the company's stock, valued at $17,252,560.50. This trade represents a 2.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,013 shares of company stock worth $6,863,532. Insiders own 0.71% of the company's stock.

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.