Teacher Retirement System of Texas raised its stake in ResMed (NYSE:RMD) by 65.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 64,284 shares of the medical equipment provider’s stock after purchasing an additional 25,316 shares during the period. Teacher Retirement System of Texas’ holdings in ResMed were worth $6,330,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Toronto Dominion Bank increased its holdings in shares of ResMed by 13.4% in the fourth quarter. Toronto Dominion Bank now owns 61,142 shares of the medical equipment provider’s stock valued at $5,178,000 after purchasing an additional 7,216 shares during the last quarter. California Public Employees Retirement System increased its holdings in shares of ResMed by 8.0% in the fourth quarter. California Public Employees Retirement System now owns 323,758 shares of the medical equipment provider’s stock valued at $27,419,000 after purchasing an additional 23,960 shares during the last quarter. Amalgamated Bank increased its holdings in shares of ResMed by 5.1% in the fourth quarter. Amalgamated Bank now owns 30,150 shares of the medical equipment provider’s stock valued at $2,553,000 after purchasing an additional 1,476 shares during the last quarter. First Business Financial Services Inc. increased its holdings in shares of ResMed by 25.4% in the fourth quarter. First Business Financial Services Inc. now owns 8,100 shares of the medical equipment provider’s stock valued at $686,000 after purchasing an additional 1,643 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings in shares of ResMed by 24.6% in the fourth quarter. Deutsche Bank AG now owns 204,634 shares of the medical equipment provider’s stock valued at $17,326,000 after purchasing an additional 40,447 shares during the last quarter. Hedge funds and other institutional investors own 62.27% of the company’s stock.
Get ResMed alerts:In related news, CFO Brett Sandercock sold 2,000 shares of the company’s stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $98.53, for a total transaction of $197,060.00. Following the completion of the sale, the chief financial officer now owns 73,072 shares of the company’s stock, valued at $7,199,784.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gary W. Pace sold 28,403 shares of the company’s stock in a transaction dated Tuesday, May 8th. The stock was sold at an average price of $97.37, for a total transaction of $2,765,600.11. Following the sale, the director now directly owns 128,981 shares of the company’s stock, valued at approximately $12,558,879.97. The disclosure for this sale can be found here. Insiders have sold 41,823 shares of company stock valued at $4,070,426 in the last ninety days. 1.77% of the stock is currently owned by company insiders.
ResMed opened at $102.72 on Thursday, Marketbeat reports. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.85 and a current ratio of 3.48. ResMed has a 52 week low of $69.59 and a 52 week high of $104.78. The stock has a market capitalization of $14.57 billion, a P/E ratio of 36.43 and a beta of 0.91.
ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, April 26th. The medical equipment provider reported $0.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.07. ResMed had a net margin of 13.52% and a return on equity of 23.72%. The business had revenue of $591.60 million for the quarter, compared to the consensus estimate of $575.75 million. During the same period in the prior year, the company posted $0.71 earnings per share. ResMed’s revenue was up 15.1% compared to the same quarter last year. analysts predict that ResMed will post 3.53 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 14th. Investors of record on Thursday, May 10th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, May 9th. This represents a $1.40 annualized dividend and a yield of 1.36%. ResMed’s dividend payout ratio is 49.65%.
Several equities analysts have commented on RMD shares. Zacks Investment Research upgraded shares of ResMed from a “hold” rating to a “buy” rating and set a $105.00 price objective on the stock in a report on Tuesday, February 20th. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research note on Wednesday, March 7th. Citigroup downgraded shares of ResMed from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 4th. UBS downgraded shares of ResMed from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 24th. Finally, William Blair restated an “outperform” rating on shares of ResMed in a research note on Monday, April 16th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. ResMed currently has an average rating of “Hold” and a consensus target price of $74.83.
About ResMed
ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. 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, portable oxygen concentrators, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.
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