Retirement Systems of Alabama Sells 228 Shares of ResMed Inc. (NYSE:RMD)

Retirement Systems of Alabama lowered its stake in shares of ResMed Inc. (NYSE:RMD) by 0.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 31,783 shares of the medical equipment provider’s stock after selling 228 shares during the quarter. Retirement Systems of Alabama’s holdings in ResMed were worth $7,268,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cetera Investment Advisers grew its stake in ResMed by 26.8% in the 2nd quarter. Cetera Investment Advisers now owns 9,721 shares of the medical equipment provider’s stock worth $1,861,000 after acquiring an additional 2,053 shares in the last quarter. Mather Group LLC. boosted its holdings in shares of ResMed by 11.8% in the third quarter. Mather Group LLC. now owns 701 shares of the medical equipment provider’s stock valued at $171,000 after purchasing an additional 74 shares during the period. CWM LLC grew its stake in ResMed by 38.4% in the third quarter. CWM LLC now owns 7,899 shares of the medical equipment provider’s stock worth $1,928,000 after purchasing an additional 2,192 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in ResMed by 249.7% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,224 shares of the medical equipment provider’s stock worth $299,000 after purchasing an additional 874 shares during the period. Finally, Fiduciary Financial Group LLC bought a new stake in ResMed during the 3rd quarter valued at $266,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Trading Down 0.1 %

Shares of RMD stock opened at $236.84 on Monday. The company has a market capitalization of $34.78 billion, a price-to-earnings ratio of 27.96, a PEG ratio of 1.57 and a beta of 0.70. ResMed Inc. has a twelve month low of $170.56 and a twelve month high of $263.05. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $239.18 and a 200 day moving average price of $237.59.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. Research analysts forecast that ResMed Inc. will post 9.44 earnings per share for the current fiscal year.

ResMed Announces Dividend

The business also recently announced 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. This represents a $2.12 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Thursday, February 13th. ResMed’s payout ratio is 25.03%.

Insider Activity

In other news, Director Witte Jan De sold 796 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total transaction of $198,052.76. Following the completion of the sale, the director now owns 6,723 shares of the company’s stock, valued at approximately $1,672,749.63. This trade represents a 10.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total transaction 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,094 shares of company stock worth $2,704,941. 0.71% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on RMD shares. Royal Bank of Canada lifted their price objective on shares of ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Stifel Nicolaus began coverage on ResMed in a research note on Friday, December 13th. They set a “hold” rating and a $250.00 price objective for the company. The Goldman Sachs Group began coverage on ResMed in a research note on Thursday, January 16th. They issued a “buy” rating on the stock. Finally, Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $244.73.

ResMed Profile

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.