Teacher Retirement System of Texas decreased its holdings in shares of ResMed Inc. (NYSE:RMD - Free Report) by 87.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,461 shares of the medical equipment provider's stock after selling 146,622 shares during the period. Teacher Retirement System of Texas' holdings in ResMed were worth $4,804,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in RMD. CVA Family Office LLC grew its stake in shares of ResMed by 29.8% during the first quarter. CVA Family Office LLC now owns 209 shares of the medical equipment provider's stock valued at $47,000 after purchasing an additional 48 shares during the last quarter. Central Pacific Bank Trust Division grew its stake in shares of ResMed by 9.7% during the first quarter. Central Pacific Bank Trust Division now owns 565 shares of the medical equipment provider's stock valued at $126,000 after purchasing an additional 50 shares during the last quarter. Terra Nova Asset Management LLC grew its stake in shares of ResMed by 0.7% during the first quarter. Terra Nova Asset Management LLC now owns 7,950 shares of the medical equipment provider's stock valued at $1,780,000 after purchasing an additional 52 shares during the last quarter. Faithward Advisors LLC grew its stake in shares of ResMed by 4.3% during the fourth quarter. Faithward Advisors LLC now owns 1,279 shares of the medical equipment provider's stock valued at $292,000 after purchasing an additional 53 shares during the last quarter. Finally, Portside Wealth Group LLC grew its stake in shares of ResMed by 3.8% during the first quarter. Portside Wealth Group LLC now owns 1,457 shares of the medical equipment provider's stock valued at $326,000 after purchasing an additional 54 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company's stock.
ResMed Stock Down 1.5%
Shares of NYSE RMD traded down $3.92 during trading on Friday, hitting $254.15. 517,805 shares of the company traded hands, compared to its average volume of 967,546. The business's fifty day moving average is $250.08 and its 200 day moving average is $236.57. ResMed Inc. has a fifty-two week low of $195.00 and a fifty-two week high of $263.05. The firm has a market capitalization of $37.26 billion, a price-to-earnings ratio of 28.52, a P/E/G ratio of 1.60 and a beta of 0.77. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.49 and a current ratio of 3.41.
ResMed (NYSE:RMD - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share for the quarter, topping 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 company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the prior year, the business posted $2.13 EPS. The firm's revenue was up 7.9% compared to the same quarter last year. Equities research analysts predict that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.
ResMed Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Thursday, May 8th were paid a $0.53 dividend. The ex-dividend date was Thursday, May 8th. This represents a $2.12 annualized dividend and a yield of 0.83%. ResMed's dividend payout ratio (DPR) is 23.79%.
Analyst Ratings Changes
RMD has been the topic of several research analyst reports. Mizuho set a $265.00 price target on shares of ResMed in a research note on Wednesday, April 16th. Piper Sandler decreased their price target on shares of ResMed from $260.00 to $248.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. KeyCorp set a $274.00 price objective on shares of ResMed in a research note on Thursday, April 24th. JPMorgan Chase & Co. raised their price objective on shares of ResMed from $286.00 to $290.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Finally, Wall Street Zen cut shares of ResMed from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $259.33.
Check Out Our Latest Stock Report on RMD
Insider Buying and Selling at ResMed
In other ResMed news, Director Peter C. Farrell sold 945 shares of the stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $255.49, for a total value of $241,438.05. Following the completion of the sale, the director 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $256.72, for a total transaction of $2,056,070.48. Following the completion of the sale, the chief executive officer owned 455,503 shares of the company's stock, valued at approximately $116,936,730.16. This trade represents a 1.73% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,013 shares of company stock worth $7,238,913. Insiders own 0.71% of the company's stock.
ResMed Profile
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Free Report)
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.
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