Public Sector Pension Investment Board Purchases 1,529 Shares of ResMed Inc. $RMD

Public Sector Pension Investment Board boosted its stake in ResMed Inc. (NYSE:RMD - Free Report) by 8.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,095 shares of the medical equipment provider's stock after acquiring an additional 1,529 shares during the period. Public Sector Pension Investment Board's holdings in ResMed were worth $4,498,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in ResMed by 1.8% in the first quarter. Vanguard Group Inc. now owns 18,493,702 shares of the medical equipment provider's stock worth $4,139,815,000 after acquiring an additional 320,240 shares during the period. Northern Trust Corp increased its stake in shares of ResMed by 20.6% in the fourth quarter. Northern Trust Corp now owns 1,702,590 shares of the medical equipment provider's stock worth $389,365,000 after purchasing an additional 290,664 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of ResMed by 4.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 998,128 shares of the medical equipment provider's stock worth $223,431,000 after purchasing an additional 41,108 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of ResMed by 28.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 954,612 shares of the medical equipment provider's stock worth $218,310,000 after purchasing an additional 212,201 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its stake in shares of ResMed by 15.6% in the first quarter. Los Angeles Capital Management LLC now owns 773,159 shares of the medical equipment provider's stock worth $173,072,000 after purchasing an additional 104,251 shares in the last quarter. Institutional investors own 54.98% of the company's stock.

Insider Transactions at ResMed

In related news, Director John Hernandez sold 2,575 shares of the company's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $287.10, for a total transaction of $739,282.50. Following the completion of the sale, the director directly owned 4,045 shares in the company, valued at $1,161,319.50. This represents a 38.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael J. Farrell sold 8,009 shares of the company's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $279.48, for a total transaction of $2,238,355.32. Following the sale, the chief executive officer owned 455,503 shares of the company's stock, valued at $127,303,978.44. This represents a 1.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,638 shares of company stock worth $7,311,177. 0.71% of the stock is currently owned by insiders.

ResMed Price Performance

RMD stock traded down $0.55 during midday trading on Thursday, reaching $288.51. The company had a trading volume of 476,274 shares, compared to its average volume of 996,548. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.44 and a quick ratio of 2.53. ResMed Inc. has a 1 year low of $199.92 and a 1 year high of $293.08. The company has a market capitalization of $42.24 billion, a P/E ratio of 30.36, a P/E/G ratio of 1.92 and a beta of 0.77. The firm has a 50-day moving average price of $266.30 and a 200-day moving average price of $243.84.

ResMed (NYSE:RMD - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 EPS for the quarter, topping analysts' consensus estimates of $2.47 by $0.08. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The business had revenue of $1.35 billion during the quarter, compared to analysts' expectations of $1.33 billion. During the same quarter in the previous year, the company earned $2.08 EPS. The business's quarterly revenue was up 10.2% compared to the same quarter last year. On average, research analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, August 14th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Wednesday, August 13th. This is a positive change from ResMed's previous quarterly dividend of $0.53. ResMed's dividend payout ratio (DPR) is presently 25.24%.

Analyst Ratings Changes

RMD has been the subject of several recent research reports. Royal Bank Of Canada lifted their target price on shares of ResMed from $294.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Mizuho lifted their target price on shares of ResMed from $270.00 to $290.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Wall Street Zen downgraded shares of ResMed from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. William Blair raised shares of ResMed to a "strong-buy" rating in a research note on Friday, August 1st. Finally, KeyCorp boosted their price objective on shares of ResMed from $274.00 to $298.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, ResMed presently has an average rating of "Moderate Buy" and an average target price of $274.83.

ResMed 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.