ResMed Inc. (NYSE:RMD) Shares Bought by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in ResMed Inc. (NYSE:RMD) by 7.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,378 shares of the medical equipment provider’s stock after buying an additional 604 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in ResMed were worth $871,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Farmers & Merchants Investments Inc. raised its stake in ResMed by 49.0% during the first quarter. Farmers & Merchants Investments Inc. now owns 295 shares of the medical equipment provider’s stock valued at $31,000 after purchasing an additional 97 shares in the last quarter. Financial Gravity Companies Inc. purchased a new stake in ResMed during the fourth quarter valued at $34,000. Executive Wealth Management LLC purchased a new stake in ResMed during the fourth quarter valued at $35,000. Parallel Advisors LLC raised its stake in ResMed by 143.0% during the fourth quarter. Parallel Advisors LLC now owns 328 shares of the medical equipment provider’s stock valued at $37,000 after purchasing an additional 193 shares in the last quarter. Finally, Altshuler Shaham Ltd raised its stake in ResMed by 36.4% during the fourth quarter. Altshuler Shaham Ltd now owns 1,023 shares of the medical equipment provider’s stock valued at $37,000 after purchasing an additional 273 shares in the last quarter. 67.26% of the stock is currently owned by hedge funds and other institutional investors.

RMD stock traded down $1.35 during mid-day trading on Friday, reaching $118.09. 597,500 shares of the stock traded hands, compared to its average volume of 925,391. The company has a quick ratio of 1.69, a current ratio of 2.38 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $17.14 billion, a price-to-earnings ratio of 33.45, a price-to-earnings-growth ratio of 3.11 and a beta of 0.44. ResMed Inc. has a one year low of $90.64 and a one year high of $120.00.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $0.89 EPS for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.05. The firm had revenue of $662.23 million for the quarter, compared to analysts’ expectations of $657.82 million. ResMed had a net margin of 17.65% and a return on equity of 26.46%. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.92 earnings per share. As a group, equities research analysts expect that ResMed Inc. will post 3.63 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 9th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend was Wednesday, May 8th. ResMed’s payout ratio is presently 41.93%.

In other news, insider David Pendarvis sold 4,367 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $114.01, for a total value of $497,881.67. Following the transaction, the insider now directly owns 117,883 shares in the company, valued at $13,439,840.83. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael J. Farrell sold 6,651 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $118.16, for a total transaction of $785,882.16. Following the completion of the transaction, the chief executive officer now owns 292,988 shares in the company, valued at $34,619,462.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 98,171 shares of company stock worth $10,895,378. Company insiders own 1.24% of the company’s stock.

A number of research firms recently issued reports on RMD. JPMorgan Chase & Co. raised shares of ResMed from an “underweight” rating to a “neutral” rating and set a $95.00 price target on the stock in a research note on Thursday, April 18th. Zacks Investment Research upgraded shares of ResMed from a “sell” rating to a “buy” rating and set a $116.00 price objective on the stock in a research report on Monday, April 1st. UBS Group upgraded shares of ResMed from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $109.00 to $119.00 in a research report on Monday, May 6th. ValuEngine upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Finally, Deutsche Bank upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research report on Wednesday, March 20th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $112.50.

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ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. 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, portable oxygen concentrators, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.

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Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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