ResMed Inc. (NYSE:RMD) Shares Sold by Strs Ohio

Strs Ohio decreased its position in ResMed Inc. (NYSE:RMD) by 61.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 37,500 shares of the medical equipment provider’s stock after selling 61,000 shares during the period. Strs Ohio’s holdings in ResMed were worth $6,450,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in shares of ResMed by 3.3% in the 1st quarter. Geode Capital Management LLC now owns 3,231,885 shares of the medical equipment provider’s stock worth $706,314,000 after buying an additional 103,438 shares in the last quarter. Morgan Stanley raised its position in ResMed by 102.4% during the third quarter. Morgan Stanley now owns 2,329,618 shares of the medical equipment provider’s stock worth $344,481,000 after acquiring an additional 1,178,547 shares during the last quarter. Norges Bank purchased a new stake in shares of ResMed in the fourth quarter valued at about $244,477,000. abrdn plc grew its position in shares of ResMed by 79.2% in the third quarter. abrdn plc now owns 901,485 shares of the medical equipment provider’s stock valued at $133,303,000 after purchasing an additional 398,302 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of ResMed by 12.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 849,576 shares of the medical equipment provider’s stock worth $176,822,000 after purchasing an additional 92,261 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insiders Place Their Bets

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

ResMed Stock Performance

Shares of NYSE:RMD opened at $173.86 on Thursday. The firm has a market capitalization of $25.57 billion, a PE ratio of 28.74, a P/E/G ratio of 2.29 and a beta of 0.67. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.11 and a quick ratio of 1.89. The business has a 50-day moving average of $186.42 and a two-hundred day moving average of $170.17. ResMed Inc. has a 12 month low of $132.24 and a 12 month high of $243.52.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Wednesday, January 24th. The medical equipment provider reported $1.88 EPS for the quarter, topping the consensus estimate of $1.81 by $0.07. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. ResMed had a return on equity of 23.86% and a net margin of 19.77%. The firm’s revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.66 earnings per share. As a group, research analysts forecast that ResMed Inc. will post 7.46 earnings per share for the current year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Thursday, February 8th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $1.92 annualized dividend and a yield of 1.10%. ResMed’s dividend payout ratio is presently 31.74%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on RMD shares. KeyCorp began coverage on ResMed in a research report on Tuesday, February 6th. They issued an “overweight” rating and a $227.00 price objective on the stock. Royal Bank of Canada upped their target price on shares of ResMed from $181.00 to $182.00 and gave the company a “sector perform” rating in a report on Thursday, January 25th. Needham & Company LLC raised their price target on shares of ResMed from $215.00 to $224.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Mizuho reaffirmed a “buy” rating and issued a $215.00 target price on shares of ResMed in a research note on Wednesday, March 27th. Finally, JPMorgan Chase & Co. boosted their price target on ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a report on Tuesday, January 9th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, ResMed presently has a consensus rating of “Moderate Buy” and an average target price of $199.20.

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.