Public Employees Retirement System of Ohio Increases Stock Position in ResMed Inc. (NYSE:RMD)

Public Employees Retirement System of Ohio raised its position in ResMed Inc. (NYSE:RMD - Free Report) by 4.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,717 shares of the medical equipment provider's stock after buying an additional 2,602 shares during the quarter. Public Employees Retirement System of Ohio's holdings in ResMed were worth $13,199,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Colonial Trust Co SC raised its stake in ResMed by 6,250.0% during the 4th 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 during the last quarter. Optiver Holding B.V. acquired a new position in shares of ResMed in the fourth quarter valued at approximately $33,000. Itau Unibanco Holding S.A. raised its stake in shares of ResMed by 1,000.0% during 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 during the last quarter. OFI Invest Asset Management acquired a new stake in shares of ResMed during the fourth quarter worth $39,000. Finally, Coppell Advisory Solutions LLC grew its position in ResMed by 1,750.0% in the 4th quarter. Coppell Advisory Solutions LLC now owns 185 shares of the medical equipment provider's stock valued at $42,000 after buying an additional 175 shares during the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on RMD. Royal Bank of Canada upped their price objective on shares of ResMed from $247.00 to $255.00 and gave the stock a "sector perform" rating in a research report on Thursday, April 24th. Stifel Nicolaus cut their price target on shares of ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a report on Wednesday, March 5th. KeyCorp set a $274.00 price objective on shares of ResMed in a research report on Thursday, April 24th. Mizuho set a $265.00 target price on ResMed in a research report on Wednesday, April 16th. Finally, Citigroup raised ResMed from a "neutral" rating to a "buy" rating in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $259.33.

ResMed Price Performance

Shares of NYSE:RMD traded up $0.31 during midday trading on Thursday, hitting $245.07. 562,814 shares of the stock were exchanged, compared to its average volume of 1,039,153. ResMed Inc. has a twelve month low of $179.42 and a twelve month 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 company has a 50 day moving average price of $229.30 and a 200-day moving average price of $234.25. The stock has a market cap of $35.93 billion, a P/E ratio of 28.93, a PEG ratio of 1.53 and a beta of 0.78.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.01. ResMed had a net margin of 25.34% and a return on equity of 26.17%. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the firm earned $2.13 earnings per share. The company's revenue for the quarter was up 7.9% compared to the same quarter last year. On average, research analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 8th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Thursday, May 8th. ResMed's dividend payout ratio (DPR) is presently 23.79%.

Insiders Place Their Bets

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $229.20, for a total transaction of $1,835,662.80. Following the sale, the chief executive officer now directly owns 455,472 shares of the company's stock, valued at $104,394,182.40. This trade represents a 1.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Witte Jan De sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $243.47, for a total transaction of $486,940.00. Following the completion of the transaction, the director now directly owns 5,806 shares of the company's stock, valued at approximately $1,413,586.82. This represents a 25.62% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,949 shares of company stock valued at $11,822,260. Corporate 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.