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

Teacher Retirement System of Texas reduced its stake in ResMed Inc. (NYSE:RMD - Free Report) by 87.2% in the first quarter, according to the company in its most recent Form 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of ResMed by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 18,173,462 shares of the medical equipment provider's stock worth $4,156,089,000 after acquiring an additional 160,590 shares during the last quarter. Geode Capital Management LLC grew its holdings in ResMed by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 3,944,084 shares of the medical equipment provider's stock valued at $899,860,000 after purchasing an additional 85,270 shares during the last quarter. Invesco Ltd. grew its holdings in ResMed by 32.2% during the 4th quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider's stock valued at $531,706,000 after purchasing an additional 566,046 shares during the last quarter. Northern Trust Corp boosted its position in ResMed by 20.6% in the 4th quarter. Northern Trust Corp now owns 1,702,590 shares of the medical equipment provider's stock valued at $389,365,000 after buying an additional 290,664 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in ResMed by 28.6% in the 4th 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 valued at $218,310,000 after buying an additional 212,201 shares during the period. Institutional investors own 54.98% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. KeyCorp set a $274.00 price objective on shares of ResMed in a research note on Thursday, April 24th. Mizuho set a $265.00 price objective on shares of ResMed in a research note on Wednesday, April 16th. JPMorgan Chase & Co. upped their price target 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. Morgan Stanley set a $286.00 price target on shares of ResMed and gave the company an "overweight" rating in a research note on Tuesday, May 20th. Finally, Wall Street Zen lowered shares of ResMed from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $259.33.

Insider Transactions at ResMed

In other news, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction on Monday, July 7th. The shares were sold at an average price of $256.72, for a total value of $2,056,070.48. Following the transaction, the chief executive officer directly owned 455,503 shares of the company's stock, valued at $116,936,730.16. The trade was a 1.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Peter C. Farrell sold 945 shares of ResMed stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $255.49, for a total transaction of $241,438.05. Following the completion of the transaction, the director directly owned 68,273 shares in the company, valued at $17,443,068.77. The trade was a 1.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,013 shares of company stock worth $7,238,913. 0.71% of the stock is currently owned by insiders.

ResMed Stock Up 1.4%

Shares of NYSE RMD traded up $3.54 during midday trading on Thursday, hitting $259.52. The company's stock had a trading volume of 284,053 shares, compared to its average volume of 966,157. ResMed Inc. has a 1 year low of $189.15 and a 1 year high of $263.05. The business's fifty day simple moving average is $249.64 and its two-hundred day simple moving average is $236.39. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.41 and a quick ratio of 2.49. The firm has a market capitalization of $38.05 billion, a price-to-earnings ratio of 29.12, a price-to-earnings-growth ratio of 1.61 and a beta of 0.77.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the firm earned $2.13 earnings per share. The firm's quarterly revenue was up 7.9% on a year-over-year basis. On average, equities analysts predict that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $2.12 annualized dividend and a dividend yield of 0.82%. ResMed's dividend payout ratio is presently 23.79%.

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.