ResMed Inc. (NYSE:RMD) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas lowered its stake in ResMed Inc. (NYSE:RMD - Free Report) by 87.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Global X Japan Co. Ltd. raised its position in shares of 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 in the last quarter. Colonial Trust Co SC raised its position in shares of ResMed by 6,250.0% during the 4th quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider's stock worth $29,000 after acquiring an additional 125 shares in the last quarter. Optiver Holding B.V. acquired a new stake in shares of ResMed during the 4th quarter worth about $33,000. Golden State Wealth Management LLC raised its position in shares of ResMed by 384.8% during the 1st quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider's stock worth $36,000 after acquiring an additional 127 shares in the last quarter. Finally, Itau Unibanco Holding S.A. raised its position in shares of ResMed by 1,000.0% during the 4th quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider's stock worth $38,000 after acquiring an additional 150 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. UBS Group cut their target price on ResMed from $290.00 to $285.00 and set a "buy" rating on the stock in a research 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 report on Tuesday, May 20th. Mizuho set a $265.00 price target on ResMed in a research note on Wednesday, April 16th. Piper Sandler dropped their price target on ResMed from $260.00 to $248.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Finally, KeyCorp set a $274.00 price target on ResMed in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, ResMed presently has an average rating of "Moderate Buy" and an average price target of $259.33.

Insider Activity

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

ResMed Stock Performance

Shares of RMD stock traded up $2.11 during midday trading on Thursday, hitting $258.09. The company had a trading volume of 637,776 shares, compared to its average volume of 969,345. The company's 50 day simple moving average is $250.08 and its 200 day simple moving average is $236.57. ResMed Inc. has a 52-week low of $195.00 and a 52-week high of $263.05. The stock has a market cap of $37.84 billion, a price-to-earnings ratio of 28.97, a PEG ratio of 1.60 and a beta of 0.77. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.41 and a quick ratio of 2.49.

ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, beating the consensus estimate of $2.36 by $0.01. The business had revenue of $1.29 billion during the quarter, compared to analysts' expectations of $1.28 billion. ResMed had a return on equity of 25.67% and a net margin of 26.15%. The company's quarterly revenue was up 7.9% compared to the same quarter last year. During the same period last year, the firm earned $2.13 EPS. Research analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current fiscal 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 $0.53 dividend. The ex-dividend date was Thursday, May 8th. This represents a $2.12 annualized dividend and a dividend yield of 0.82%. ResMed's dividend payout ratio is currently 23.79%.

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.