Teachers Retirement System of The State of Kentucky Cuts Position in ResMed Inc. (NYSE:RMD)

Teachers Retirement System of The State of Kentucky reduced its holdings in shares of ResMed Inc. (NYSE:RMD) by 6.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 10,941 shares of the medical equipment provider’s stock after selling 719 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in ResMed were worth $2,671,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC lifted its stake in shares of ResMed by 5.4% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 5,378 shares of the medical equipment provider’s stock worth $1,030,000 after purchasing an additional 274 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in ResMed by 245.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 33,507 shares of the medical equipment provider’s stock worth $6,414,000 after acquiring an additional 23,801 shares during the period. Blue Trust Inc. raised its stake in shares of ResMed by 182.7% during the second quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock valued at $42,000 after purchasing an additional 137 shares during the period. Raymond James & Associates lifted its position in shares of ResMed by 208.2% during the second quarter. Raymond James & Associates now owns 20,180 shares of the medical equipment provider’s stock worth $3,863,000 after purchasing an additional 13,633 shares in the last quarter. Finally, Western Wealth Management LLC purchased a new position in shares of ResMed in the second quarter valued at $236,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Price Performance

RMD opened at $238.52 on Monday. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The company’s 50-day moving average price is $242.75 and its 200 day moving average price is $227.74. ResMed Inc. has a fifty-two week low of $164.12 and a fifty-two week high of $260.49. The firm has a market cap of $35.01 billion, a price-to-earnings ratio of 31.59, a price-to-earnings-growth ratio of 1.73 and a beta of 0.68.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.17. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The business’s revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the business posted $1.64 EPS. As a group, sell-side analysts expect that ResMed Inc. will post 9.34 earnings per share for the current year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.89%. The ex-dividend date was Thursday, November 7th. ResMed’s dividend payout ratio (DPR) is 28.08%.

Insider Transactions at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total transaction of $491,300.00. Following the completion of the transaction, the director now directly owns 81,218 shares of the company’s stock, valued at $19,951,201.70. The trade was a 2.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael J. Farrell sold 14,683 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $231.91, for a total transaction of $3,405,134.53. Following the completion of the sale, the chief executive officer now owns 464,169 shares in the company, valued at $107,645,432.79. The trade was a 3.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,725 shares of company stock worth $11,253,448. Insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on RMD shares. KeyCorp boosted their price objective on shares of ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Wolfe Research reissued an “underperform” rating and issued a $180.00 price target on shares of ResMed in a report on Wednesday, September 18th. Needham & Company LLC restated a “hold” rating on shares of ResMed in a report on Friday, October 25th. Stifel Nicolaus began coverage on ResMed in a research note on Friday. They set a “hold” rating and a $250.00 target price for the company. Finally, Baird R W upgraded shares of ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. One analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $227.91.

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.