ResMed Inc. (NYSE:RMD) Shares Purchased by Arizona State Retirement System

Arizona State Retirement System raised its stake in shares of ResMed Inc. (NYSE:RMD) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 42,628 shares of the medical equipment provider’s stock after purchasing an additional 539 shares during the period. Arizona State Retirement System’s holdings in ResMed were worth $9,749,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in RMD. First Horizon Advisors Inc. lifted its stake in shares of ResMed by 285.1% during the fourth quarter. First Horizon Advisors Inc. now owns 593 shares of the medical equipment provider’s stock worth $136,000 after purchasing an additional 439 shares in the last quarter. Peak Financial Advisors LLC acquired a new stake in ResMed in the fourth quarter valued at approximately $2,972,000. Principal Financial Group Inc. raised its stake in shares of ResMed by 2.9% during the third quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider’s stock valued at $45,596,000 after purchasing an additional 5,284 shares during the period. Spire Wealth Management lifted its position in shares of ResMed by 11.3% during the fourth quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider’s stock worth $2,470,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in shares of ResMed by 2.8% in the fourth quarter. Asset Management One Co. Ltd. now owns 60,489 shares of the medical equipment provider’s stock valued at $14,105,000 after purchasing an additional 1,629 shares during the period. 54.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Stifel Nicolaus decreased their price objective on shares of ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. increased their price target on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a report on Friday, January 31st. KeyCorp lifted their price objective on ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Citigroup upgraded ResMed from a “neutral” rating to a “buy” rating in a research note on Wednesday. Finally, Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $243.82.

Insider Transactions at ResMed

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 completion of the sale, the director now owns 77,218 shares in the company, valued at approximately $18,695,249.98. This trade represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kaushik Ghoshal sold 9,113 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $235.40, for a total value of $2,145,200.20. Following the completion of the sale, the insider now owns 9,725 shares of the company’s stock, valued at $2,289,265. This represents a 48.38 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,186 shares of company stock worth $4,996,646. Insiders own 0.71% of the company’s stock.

ResMed Stock Up 0.6 %

ResMed stock opened at $225.08 on Friday. 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 Inc. has a 1-year low of $172.19 and a 1-year high of $263.05. The firm’s fifty day simple moving average is $236.72 and its 200-day simple moving average is $239.80. The company has a market capitalization of $33.06 billion, a P/E ratio of 26.57, a P/E/G ratio of 1.53 and a beta of 0.70.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping 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%. Sell-side analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be given a $0.53 dividend. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 0.94%. ResMed’s dividend payout ratio is 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.