Utah Retirement Systems Increases Stock Holdings in ResMed Inc. (NYSE:RMD)

Utah Retirement Systems grew its stake in shares of ResMed Inc. (NYSE:RMD) by 0.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,119 shares of the medical equipment provider’s stock after purchasing an additional 100 shares during the quarter. Utah Retirement Systems’ holdings in ResMed were worth $5,516,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Howard Capital Management Inc. raised its stake in ResMed by 5.3% during the 4th quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider’s stock worth $206,000 after acquiring an additional 45 shares in the last quarter. SkyView Investment Advisors LLC grew its holdings in shares of ResMed by 2.0% during the third quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider’s stock worth $637,000 after purchasing an additional 51 shares during the last quarter. Wedmont Private Capital increased its position in shares of ResMed by 2.6% during the fourth quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider’s stock worth $475,000 after purchasing an additional 52 shares in the last quarter. Faithward Advisors LLC lifted its holdings in shares of ResMed by 4.3% in the 4th quarter. Faithward Advisors LLC now owns 1,279 shares of the medical equipment provider’s stock valued at $292,000 after purchasing an additional 53 shares during the last quarter. Finally, HighPoint Advisor Group LLC boosted its position in shares of ResMed by 2.6% in the 4th quarter. HighPoint Advisor Group LLC now owns 2,570 shares of the medical equipment provider’s stock valued at $610,000 after purchasing an additional 64 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Stock Performance

NYSE RMD opened at $236.29 on Friday. The stock has a market capitalization of $34.65 billion, a price-to-earnings ratio of 27.90, a PEG ratio of 1.53 and a beta of 0.75. The business’s 50 day moving average is $222.24 and its two-hundred day moving average is $233.97. ResMed Inc. has a 12-month low of $179.42 and a 12-month high of $263.05. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last released its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.01. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.28 billion. ResMed had a return on equity of 26.17% and a net margin of 25.34%. ResMed’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.13 earnings per share. Research analysts expect that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 8th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.90%. 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 Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total value of $484,220.00. Following the sale, the director now directly owns 77,218 shares of the company’s stock, valued at approximately $18,695,249.98. This represents a 2.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kaushik Ghoshal sold 9,745 shares of ResMed stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the transaction, the insider now owns 9,725 shares of the company’s stock, valued at approximately $2,327,289.75. The trade was a 50.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,013 shares of company stock valued at $11,298,816. Corporate insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on RMD. UBS Group cut their price target on ResMed from $290.00 to $285.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. The Goldman Sachs Group initiated coverage on shares of ResMed in a research report on Thursday, January 16th. They issued a “buy” rating for the company. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research report on Friday, January 31st. Mizuho set a $265.00 price objective on shares of ResMed in a research note on Wednesday, April 16th. Finally, Morgan Stanley initiated coverage on shares of ResMed in a research note on Wednesday, March 19th. They set an “overweight” rating and a $280.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, ResMed currently has an average rating of “Moderate Buy” and a consensus price target of $258.83.

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.