Teachers Retirement System of The State of Kentucky Sells 600 Shares of ResMed Inc. (NYSE:RMD)

Teachers Retirement System of The State of Kentucky cut its stake in shares of ResMed Inc. (NYSE:RMD) by 4.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,604 shares of the medical equipment provider’s stock after selling 600 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in ResMed were worth $2,168,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Atlantic Edge Private Wealth Management LLC acquired a new position in shares of ResMed during the 4th quarter worth about $27,000. Operose Advisors LLC acquired a new position in ResMed during the third quarter valued at approximately $32,000. Planned Solutions Inc. bought a new stake in ResMed in the fourth quarter valued at approximately $34,000. MV Capital Management Inc. raised its holdings in ResMed by 39.0% in the fourth quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock worth $37,000 after purchasing an additional 60 shares during the period. Finally, Turtle Creek Wealth Advisors LLC bought a new position in shares of ResMed during the fourth quarter worth $45,000. Institutional investors own 54.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on RMD shares. Needham & Company LLC lifted their target price on ResMed from $224.00 to $236.00 and gave the stock a “buy” rating in a report on Friday, April 26th. KeyCorp lifted their price objective on ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Mizuho reissued a “buy” rating and set a $215.00 target price on shares of ResMed in a research note on Wednesday, March 27th. Royal Bank of Canada raised their target price on shares of ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a report on Friday, April 26th. Finally, Oppenheimer reduced their price target on shares of ResMed from $205.00 to $200.00 and set an “outperform” rating for the company in a report on Friday, April 26th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, ResMed currently has an average rating of “Moderate Buy” and an average target price of $202.80.

ResMed Trading Up 0.5 %

ResMed stock opened at $213.23 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.04 and a quick ratio of 1.97. The firm has a 50-day moving average of $207.37 and a 200-day moving average of $189.96. The company has a market cap of $31.32 billion, a price-to-earnings ratio of 32.75, a P/E/G ratio of 2.08 and a beta of 0.68. ResMed Inc. has a one year low of $132.24 and a one year high of $229.97.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.22. ResMed had a return on equity of 24.43% and a net margin of 20.91%. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the company earned $1.68 earnings per share. The business’s revenue was up 7.2% compared to the same quarter last year. On average, equities analysts expect that ResMed Inc. will post 7.7 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 9th were issued a dividend of $0.48 per share. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a $1.92 dividend on an annualized basis and a yield of 0.90%. ResMed’s payout ratio is 29.49%.

Insiders Place Their Bets

In other news, Director Witte Jan De sold 360 shares of ResMed stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $218.29, for a total value of $78,584.40. Following the completion of the transaction, the director now owns 7,519 shares of the company’s stock, valued at approximately $1,641,322.51. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Witte Jan De sold 360 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $218.29, for a total value of $78,584.40. Following the completion of the sale, the director now directly owns 7,519 shares of the company’s stock, valued at $1,641,322.51. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Karen Drexler sold 425 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $214.92, for a total value of $91,341.00. Following the transaction, the director now directly owns 8,446 shares in the company, valued at $1,815,214.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,151 shares of company stock valued at $6,666,409. 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.