ResMed Inc. (NYSE:RMD) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its holdings in shares of ResMed Inc. (NYSE:RMD - Free Report) by 4.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 145,273 shares of the medical equipment provider's stock after selling 6,751 shares during the period. New York State Teachers Retirement System owned approximately 0.10% of ResMed worth $24,990,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Kayne Anderson Rudnick Investment Management LLC purchased a new position in ResMed in the 3rd quarter worth about $26,000. Compass Wealth Management LLC purchased a new position in shares of ResMed during the fourth quarter valued at approximately $26,000. International Assets Investment Management LLC bought a new position in ResMed during the third quarter valued at approximately $27,000. EverSource Wealth Advisors LLC boosted its holdings in ResMed by 224.6% in the third quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider's stock worth $27,000 after purchasing an additional 128 shares during the last quarter. Finally, Riverview Trust Co grew its position in ResMed by 255.9% in the 3rd quarter. Riverview Trust Co now owns 210 shares of the medical equipment provider's stock worth $31,000 after purchasing an additional 151 shares during the period. Institutional investors own 54.98% of the company's stock.

ResMed Stock Down 0.5 %

RMD opened at $187.76 on Tuesday. The stock has a market cap of $27.62 billion, a price-to-earnings ratio of 31.03, a price-to-earnings-growth ratio of 2.34 and a beta of 0.67. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.89 and a current ratio of 3.11. The firm's fifty day moving average is $186.96 and its 200 day moving average is $168.25. ResMed Inc. has a fifty-two week low of $132.24 and a fifty-two week high of $243.52.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings data on Wednesday, January 24th. The medical equipment provider reported $1.88 EPS for the quarter, beating the consensus estimate of $1.81 by $0.07. ResMed had a return on equity of 23.86% and a net margin of 19.77%. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the business earned $1.66 earnings per share. The business's revenue was up 12.5% on a year-over-year basis. On average, sell-side analysts forecast that ResMed Inc. will post 7.45 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Thursday, February 8th were paid a $0.48 dividend. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $1.92 annualized dividend and a yield of 1.02%. ResMed's payout ratio is 31.74%.

Analyst Ratings Changes

A number of analysts recently commented on RMD shares. Royal Bank of Canada upped their price objective on ResMed from $181.00 to $182.00 and gave the company a "sector perform" rating in a research report on Thursday, January 25th. Mizuho reiterated a "buy" rating and issued a $215.00 price objective on shares of ResMed in a research note on Wednesday, March 27th. Needham & Company LLC boosted their target price on shares of ResMed from $215.00 to $224.00 and gave the company a "buy" rating in a research report on Monday, April 1st. UBS Group upped their target price on shares of ResMed from $175.00 to $180.00 and gave the company a "neutral" rating in a report on Thursday, January 25th. Finally, KeyCorp assumed coverage on shares of ResMed in a research note on Tuesday, February 6th. They set an "overweight" rating and a $227.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, ResMed presently has an average rating of "Moderate Buy" and a consensus target price of $199.20.

Insider Buying and Selling at ResMed

In other news, General Counsel Michael J. Rider sold 200 shares of the business's stock in a transaction on Friday, March 1st. The shares were sold at an average price of $173.25, for a total value of $34,650.00. Following the transaction, the general counsel now owns 6,688 shares of the company's stock, valued at $1,158,696. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, General Counsel Michael J. Rider sold 200 shares of ResMed stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $173.25, for a total value of $34,650.00. Following the sale, the general counsel now directly owns 6,688 shares of the company's stock, valued at $1,158,696. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter C. Farrell sold 10,935 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value of $1,997,387.10. Following the transaction, the director now directly owns 157,404 shares of the company's stock, valued at $28,751,414.64. The disclosure for this sale can be found here. Insiders sold a total of 11,216 shares of company stock valued at $2,046,617 in the last three months. 1.21% of the stock is currently owned by corporate insiders.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.