Public Employees Retirement Association of Colorado Has $2.92 Million Stake in ResMed Inc. (NYSE:RMD)

Public Employees Retirement Association of Colorado decreased its position in ResMed Inc. (NYSE:RMD) by 3.2% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 15,235 shares of the medical equipment provider’s stock after selling 499 shares during the period. Public Employees Retirement Association of Colorado’s holdings in ResMed were worth $2,916,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dorsey & Whitney Trust CO LLC boosted its stake in ResMed by 3.7% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 1,473 shares of the medical equipment provider’s stock worth $292,000 after purchasing an additional 52 shares during the period. QRG Capital Management Inc. lifted its position in ResMed by 4.5% in the 2nd quarter. QRG Capital Management Inc. now owns 1,291 shares of the medical equipment provider’s stock worth $247,000 after buying an additional 56 shares in the last quarter. Inspire Advisors LLC lifted its position in ResMed by 1.9% in the 2nd quarter. Inspire Advisors LLC now owns 3,060 shares of the medical equipment provider’s stock worth $586,000 after buying an additional 56 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in ResMed by 1.9% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 3,188 shares of the medical equipment provider’s stock worth $631,000 after buying an additional 60 shares in the last quarter. Finally, Gulf International Bank UK Ltd lifted its position in ResMed by 0.5% in the 1st quarter. Gulf International Bank UK Ltd now owns 12,614 shares of the medical equipment provider’s stock worth $2,497,000 after buying an additional 66 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Price Performance

NYSE RMD opened at $244.94 on Monday. ResMed Inc. has a 1 year low of $132.24 and a 1 year high of $255.18. The company has a fifty day simple moving average of $226.91 and a 200 day simple moving average of $209.61. The company has a current ratio of 2.59, a quick ratio of 1.69 and a debt-to-equity ratio of 0.14. The company has a market cap of $35.98 billion, a P/E ratio of 37.63, a P/E/G ratio of 2.50 and a beta of 0.69.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.05. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.22 billion. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.60 earnings per share. On average, sell-side analysts predict that ResMed Inc. will post 8.92 EPS for the current year.

ResMed Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, August 15th were issued a $0.53 dividend. The ex-dividend date was Thursday, August 15th. This represents a $2.12 dividend on an annualized basis and a yield of 0.87%. This is a positive change from ResMed’s previous quarterly dividend of $0.48. ResMed’s dividend payout ratio (DPR) is 32.57%.

Insider Buying and Selling at ResMed

In other ResMed news, insider Kaushik Ghoshal sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $252.56, for a total value of $1,262,800.00. Following the sale, the insider now owns 21,788 shares of the company’s stock, valued at approximately $5,502,777.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other ResMed news, CFO Brett Sandercock sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $246.42, for a total value of $246,420.00. Following the sale, the chief financial officer now owns 96,812 shares of the company’s stock, valued at approximately $23,856,413.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kaushik Ghoshal sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $252.56, for a total value of $1,262,800.00. Following the completion of the sale, the insider now directly owns 21,788 shares in the company, valued at approximately $5,502,777.28. The disclosure for this sale can be found here. Insiders have sold 102,931 shares of company stock valued at $22,644,807 in the last 90 days. 1.21% of the stock is currently owned by insiders.

Analysts Set New Price Targets

RMD has been the subject of a number of research analyst reports. StockNews.com downgraded shares of ResMed from a “buy” rating to a “hold” rating in a research report on Friday, August 30th. Wolfe Research reiterated an “underperform” rating and issued a $180.00 target price on shares of ResMed in a research report on Wednesday, September 18th. Royal Bank of Canada increased their target price on shares of ResMed from $204.00 to $206.00 and gave the stock a “sector perform” rating in a research report on Friday, August 2nd. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research report on Wednesday, September 18th. Finally, Oppenheimer downgraded shares of ResMed from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $199.70.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 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, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.