Kentucky Retirement Systems Has $2.12 Million Holdings in ResMed Inc. (NYSE:RMD)

Kentucky Retirement Systems cut its position in shares of ResMed Inc. (NYSE:RMD) by 0.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,070 shares of the medical equipment provider’s stock after selling 100 shares during the quarter. Kentucky Retirement Systems’ holdings in ResMed were worth $2,119,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in RMD. BOK Financial Private Wealth Inc. purchased a new stake in shares of ResMed in the 1st quarter valued at approximately $35,000. OFI Invest Asset Management purchased a new stake in shares of ResMed in the second quarter valued at $32,000. Versant Capital Management Inc boosted its position in shares of ResMed by 196.7% in the second quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 120 shares during the period. Financial Connections Group Inc. purchased a new position in shares of ResMed during the second quarter valued at $37,000. Finally, Riverview Trust Co acquired a new position in ResMed during the first quarter valued at $42,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ResMed

In other ResMed news, insider Kaushik Ghoshal sold 5,000 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $252.56, for a total transaction of $1,262,800.00. Following the completion of the transaction, 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 document filed with the SEC, which can be accessed through this hyperlink. 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 company’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 transaction, the insider now owns 21,788 shares of the company’s stock, valued at $5,502,777.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 102,931 shares of company stock worth $22,644,807. 1.21% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

RMD has been the subject of a number of research reports. Citigroup lowered ResMed from a “buy” rating to a “neutral” rating in a research report on Monday, June 24th. Wolfe Research reiterated an “underperform” rating and issued a $180.00 price objective on shares of ResMed in a research note on Wednesday. Oppenheimer lowered shares of ResMed from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. StockNews.com downgraded shares of ResMed from a “buy” rating to a “hold” rating in a research note on Friday, August 30th. Finally, Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, ResMed currently has a consensus rating of “Hold” and a consensus target price of $199.70.

ResMed Price Performance

NYSE RMD opened at $244.90 on Friday. ResMed Inc. has a fifty-two week low of $132.24 and a fifty-two week high of $255.18. The stock’s 50-day moving average is $226.91 and its two-hundred day moving average is $209.22. The firm has a market cap of $35.98 billion, a P/E ratio of 37.62, a price-to-earnings-growth ratio of 2.50 and a beta of 0.69. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.59 and a quick ratio of 1.69.

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

ResMed Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, August 15th were issued a dividend of $0.53 per share. This is an increase from ResMed’s previous quarterly dividend of $0.48. This represents a $2.12 annualized dividend and a dividend yield of 0.87%. The ex-dividend date was Thursday, August 15th. ResMed’s dividend payout ratio is currently 32.57%.

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.