ResMed Inc. (NYSE:RMD) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its holdings in ResMed Inc. (NYSE:RMD) by 4.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,801 shares of the medical equipment provider’s stock after selling 5,200 shares during the quarter. New York State Common Retirement Fund owned about 0.07% of ResMed worth $24,196,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of RMD. Ascent Group LLC increased its position in ResMed by 1.7% during the third quarter. Ascent Group LLC now owns 2,924 shares of the medical equipment provider’s stock worth $714,000 after buying an additional 48 shares in the last quarter. SkyView Investment Advisors LLC increased its position in 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 buying an additional 51 shares in the last quarter. Wedmont Private Capital increased its position in 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 buying an additional 52 shares in the last quarter. Concurrent Investment Advisors LLC increased its position in ResMed by 3.1% during the third quarter. Concurrent Investment Advisors LLC now owns 1,919 shares of the medical equipment provider’s stock worth $469,000 after buying an additional 57 shares in the last quarter. Finally, Brooklyn Investment Group increased its position in ResMed by 8.1% during the fourth quarter. Brooklyn Investment Group now owns 911 shares of the medical equipment provider’s stock worth $208,000 after buying an additional 68 shares in the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RMD has been the subject of several recent research reports. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research report on Friday, January 31st. KeyCorp raised their price target on ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Royal Bank of Canada lifted their price objective on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. The Goldman Sachs Group initiated coverage on ResMed in a research report on Thursday, January 16th. They issued a “buy” rating for the company. Finally, UBS Group raised ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $244.73.

Insiders Place Their Bets

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the transaction, the chief executive officer now owns 455,472 shares in the company, valued at $107,842,105.44. The trade was a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total value of $484,220.00. Following the transaction, the director now owns 77,218 shares in the company, valued at approximately $18,695,249.98. This represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,147 shares of company stock worth $2,905,745 over the last quarter. 0.71% of the stock is owned by corporate insiders.

ResMed Price Performance

Shares of ResMed stock opened at $231.61 on Friday. ResMed Inc. has a twelve month low of $170.56 and a twelve month high of $263.05. The stock has a market capitalization of $34.02 billion, a P/E ratio of 27.34, a PEG ratio of 1.55 and a beta of 0.70. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The business’s fifty day moving average price is $237.57 and its 200 day moving average price is $238.96.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. As a group, research analysts anticipate that ResMed Inc. will post 9.44 earnings per share for the current year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date is Thursday, February 13th. ResMed’s dividend payout ratio is presently 25.03%.

About ResMed

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.