New York State Common Retirement Fund Decreases Stock Holdings in ResMed Inc. (NYSE:RMD)

New York State Common Retirement Fund lowered its stake in shares of ResMed Inc. (NYSE:RMD) by 4.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 346,758 shares of the medical equipment provider’s stock after selling 16,510 shares during the period. New York State Common Retirement Fund owned about 0.24% of ResMed worth $53,737,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Voya Investment Management LLC boosted its holdings in ResMed by 0.6% during the third quarter. Voya Investment Management LLC now owns 80,431 shares of the medical equipment provider’s stock worth $10,867,000 after buying an additional 452 shares in the last quarter. Voloridge Investment Management LLC boosted its holdings in ResMed by 748.7% during the third quarter. Voloridge Investment Management LLC now owns 64,316 shares of the medical equipment provider’s stock worth $8,690,000 after buying an additional 56,738 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in ResMed by 3.5% during the third quarter. Public Employees Retirement System of Ohio now owns 57,728 shares of the medical equipment provider’s stock worth $7,800,000 after buying an additional 1,971 shares in the last quarter. California State Teachers Retirement System boosted its holdings in ResMed by 1.1% during the third quarter. California State Teachers Retirement System now owns 260,475 shares of the medical equipment provider’s stock worth $35,193,000 after buying an additional 2,948 shares in the last quarter. Finally, Man Group plc boosted its holdings in ResMed by 149.8% during the third quarter. Man Group plc now owns 92,624 shares of the medical equipment provider’s stock worth $12,515,000 after buying an additional 55,543 shares in the last quarter. 66.60% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE RMD opened at $172.76 on Thursday. ResMed Inc. has a 12-month low of $96.81 and a 12-month high of $174.90. The company has a market capitalization of $25.05 billion, a PE ratio of 55.02, a price-to-earnings-growth ratio of 3.37 and a beta of 0.48. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.60 and a quick ratio of 1.85. The firm’s 50-day moving average is $161.03 and its two-hundred day moving average is $144.76.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.20. ResMed had a net margin of 16.34% and a return on equity of 27.25%. The company had revenue of $736.20 million for the quarter, compared to the consensus estimate of $723.08 million. During the same quarter in the prior year, the firm earned $1.00 earnings per share. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. On average, analysts forecast that ResMed Inc. will post 4.29 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Thursday, February 13th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Wednesday, February 12th. ResMed’s dividend payout ratio (DPR) is presently 42.86%.

Several analysts have issued reports on the stock. Oppenheimer assumed coverage on shares of ResMed in a report on Thursday, January 9th. They issued a “hold” rating on the stock. KeyCorp assumed coverage on shares of ResMed in a report on Friday, November 22nd. They issued a “sector weight” rating on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a report on Friday, October 25th. UBS Group downgraded shares of ResMed from a “buy” rating to a “neutral” rating and set a $174.00 price target on the stock. in a report on Friday, January 31st. Finally, CLSA assumed coverage on shares of ResMed in a report on Monday, February 3rd. They issued an “underperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. ResMed presently has an average rating of “Hold” and a consensus target price of $133.33.

In related news, CFO Brett Sandercock sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $147.00, for a total transaction of $367,500.00. Following the transaction, the chief financial officer now owns 104,711 shares of the company’s stock, valued at $15,392,517. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David Pendarvis sold 4,739 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $162.37, for a total transaction of $769,471.43. Following the transaction, the insider now directly owns 135,303 shares in the company, valued at approximately $21,969,148.11. The disclosure for this sale can be found here. Insiders sold 56,671 shares of company stock worth $8,714,324 in the last ninety days. Insiders own 1.22% of the company’s stock.

ResMed Profile

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.

Further Reading: Asset Allocation, Balancing Your Investments

Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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