Public Employees Retirement System of Ohio Raises Stock Holdings in ResMed Inc. (NYSE:RMD)

Public Employees Retirement System of Ohio increased its stake in shares of ResMed Inc. (NYSE:RMD) by 4.7% in the fourth quarter, HoldingsChannel reports. The firm owned 57,717 shares of the medical equipment provider’s stock after buying an additional 2,602 shares during the period. Public Employees Retirement System of Ohio’s holdings in ResMed were worth $13,199,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Pacific Point Advisors LLC purchased a new stake in shares of ResMed during the 4th quarter worth $1,276,000. Vise Technologies Inc. purchased a new stake in shares of ResMed during the 4th quarter worth $267,000. JT Stratford LLC raised its stake in ResMed by 75.4% in the fourth quarter. JT Stratford LLC now owns 10,447 shares of the medical equipment provider’s stock valued at $2,389,000 after buying an additional 4,491 shares during the last quarter. McIlrath & Eck LLC raised its stake in ResMed by 438.5% in the fourth quarter. McIlrath & Eck LLC now owns 210 shares of the medical equipment provider’s stock valued at $48,000 after buying an additional 171 shares during the last quarter. Finally, Novem Group purchased a new stake in ResMed in the fourth quarter valued at about $813,000. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

ResMed Stock Down 1.0%

Shares of RMD stock opened at $243.03 on Monday. The stock’s 50-day simple moving average is $227.88 and its 200-day simple moving average is $234.16. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. The firm has a market capitalization of $35.63 billion, a PE ratio of 28.69, a P/E/G ratio of 1.53 and a beta of 0.78. ResMed Inc. has a fifty-two week low of $179.42 and a fifty-two week high of $263.05.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.01. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. ResMed had a return on equity of 26.17% and a net margin of 25.34%. The company’s revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the company earned $2.13 earnings per share. Equities analysts expect that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 8th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.87%. The ex-dividend date is Thursday, May 8th. ResMed’s dividend payout ratio (DPR) is 23.79%.

Insider Buying and Selling

In related news, Director Witte Jan De sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $243.47, for a total transaction of $486,940.00. Following the sale, the director now directly owns 5,806 shares of the company’s stock, valued at $1,413,586.82. This trade represents a 25.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $209.85, for a total value of $1,680,688.65. Following the sale, the chief executive officer now directly owns 455,472 shares in the company, valued at approximately $95,580,799.20. This trade represents a 1.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,949 shares of company stock valued at $11,822,260 over the last ninety days. Company insiders own 0.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Morgan Stanley set a $286.00 price target on ResMed and gave the company an “overweight” rating in a research note on Tuesday, May 20th. KeyCorp set a $274.00 price target on ResMed in a research note on Thursday, April 24th. Wall Street Zen cut ResMed from a “buy” rating to a “hold” rating in a research note on Saturday. Citigroup upgraded ResMed from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 5th. Finally, Mizuho set a $265.00 price target on ResMed in a research note on Wednesday, April 16th. One analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $259.33.

ResMed Company 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.