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

Teachers Retirement System of The State of Kentucky lowered its stake in shares of ResMed Inc. (NYSE:RMD) by 2.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,660 shares of the medical equipment provider’s stock after selling 342 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in ResMed were worth $2,232,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in ResMed by 24.9% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,083 shares of the medical equipment provider’s stock valued at $35,068,000 after purchasing an additional 35,273 shares during the period. Mediolanum International Funds Ltd purchased a new position in ResMed in the 1st quarter worth approximately $2,246,000. Janney Montgomery Scott LLC grew its position in ResMed by 5.3% in the first quarter. Janney Montgomery Scott LLC now owns 81,313 shares of the medical equipment provider’s stock valued at $16,102,000 after acquiring an additional 4,075 shares in the last quarter. Los Angeles Capital Management LLC raised its stake in shares of ResMed by 3,599.0% during the first quarter. Los Angeles Capital Management LLC now owns 499,031 shares of the medical equipment provider’s stock valued at $98,823,000 after purchasing an additional 485,540 shares during the period. Finally, Wellington Management Group LLP acquired a new position in shares of ResMed during the fourth quarter worth $7,535,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Stock Down 1.9 %

Shares of RMD stock opened at $233.98 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.69 and a current ratio of 2.59. The stock has a market cap of $34.37 billion, a PE ratio of 35.94, a price-to-earnings-growth ratio of 2.36 and a beta of 0.69. The business’s fifty day moving average is $234.03 and its 200-day moving average is $212.81. ResMed Inc. has a 1 year low of $132.24 and a 1 year high of $255.18.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.05. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.22 billion. ResMed had a return on equity of 25.00% and a net margin of 21.79%. ResMed’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the business posted $1.60 EPS. Equities analysts expect that ResMed Inc. will post 8.97 earnings per share for the current fiscal year.

ResMed Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, August 15th were issued a $0.53 dividend. The ex-dividend date was Thursday, August 15th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.91%. This is a positive change from ResMed’s previous quarterly dividend of $0.48. ResMed’s dividend payout ratio is presently 32.57%.

Analyst Upgrades and Downgrades

RMD has been the subject of a number of recent analyst reports. Wolfe Research reaffirmed an “underperform” rating and set a $180.00 price target on shares of ResMed in a report on Wednesday, September 18th. Royal Bank of Canada raised their target price on ResMed from $206.00 to $224.00 and gave the company a “sector perform” rating in a research note on Tuesday. Citigroup downgraded shares of ResMed from a “buy” rating to a “neutral” rating in a research report on Monday, June 24th. Robert W. Baird started coverage on ResMed in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $280.00 target price on the stock. Finally, Oppenheimer lowered shares of ResMed from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, ResMed has an average rating of “Moderate Buy” and a consensus price target of $213.75.

Insider Activity

In other news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $237.20, for a total value of $474,400.00. Following the completion of the sale, the director now directly owns 85,204 shares of the company’s stock, valued at $20,210,388.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $237.20, for a total transaction of $474,400.00. Following the completion of the sale, the director now directly owns 85,204 shares in the company, valued at approximately $20,210,388.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Michael J. Rider sold 882 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $231.00, for a total value of $203,742.00. Following the completion of the transaction, the general counsel now owns 10,512 shares in the company, valued at $2,428,272. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 104,931 shares of company stock worth $23,119,207 over the last quarter. Corporate insiders own 1.21% of the company’s stock.

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.