Public Employees Retirement Association of Colorado cut its position in shares of ResMed Inc. (NYSE:RMD) by 0.1% during the second quarter, Holdings Channel reports. The firm owned 27,738 shares of the medical equipment provider’s stock after selling 26 shares during the period. Public Employees Retirement Association of Colorado’s holdings in ResMed were worth $2,160,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RMD. BlackRock Inc. raised its position in shares of ResMed by 5,439.8% in the first quarter. BlackRock Inc. now owns 13,335,138 shares of the medical equipment provider’s stock worth $959,731,000 after buying an additional 13,094,421 shares during the period. Vanguard Group Inc. raised its position in shares of ResMed by 4.6% in the first quarter. Vanguard Group Inc. now owns 11,535,707 shares of the medical equipment provider’s stock worth $830,225,000 after buying an additional 508,392 shares during the period. State Street Corp raised its position in shares of ResMed by 2.1% in the first quarter. State Street Corp now owns 4,598,911 shares of the medical equipment provider’s stock worth $330,983,000 after buying an additional 95,552 shares during the period. FMR LLC raised its position in shares of ResMed by 1.9% in the first quarter. FMR LLC now owns 4,010,810 shares of the medical equipment provider’s stock worth $288,659,000 after buying an additional 74,389 shares during the period. Finally, Morgan Stanley raised its position in shares of ResMed by 69.1% in the first quarter. Morgan Stanley now owns 1,344,234 shares of the medical equipment provider’s stock worth $96,744,000 after buying an additional 549,279 shares during the period. Institutional investors and hedge funds own 60.68% of the company’s stock.

ResMed Inc. (NYSE:RMD) opened at 74.12 on Thursday. ResMed Inc. has a 12 month low of $56.59 and a 12 month high of $79.63. The firm has a market cap of $10.53 billion, a price-to-earnings ratio of 30.88 and a beta of 0.83. The firm’s 50 day moving average is $76.83 and its 200-day moving average is $72.20.

ResMed (NYSE:RMD) last posted its earnings results on Tuesday, August 1st. The medical equipment provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.02. The firm had revenue of $556.69 million during the quarter, compared to the consensus estimate of $557.68 million. ResMed had a net margin of 16.56% and a return on equity of 21.99%. The company’s revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the company earned $0.74 earnings per share. On average, equities analysts forecast that ResMed Inc. will post $3.03 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 21st. Stockholders of record on Thursday, August 17th will be paid a $0.35 dividend. This is an increase from ResMed’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $1.40 annualized dividend and a dividend yield of 1.89%. ResMed’s dividend payout ratio (DPR) is presently 54.77%.

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A number of research analysts recently commented on RMD shares. J P Morgan Chase & Co lowered shares of ResMed from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $72.00 to $71.00 in a research note on Thursday, April 20th. William Blair reiterated an “outperform” rating on shares of ResMed in a research note on Thursday, April 13th. Bank of America Corporation lowered shares of ResMed from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 2nd. Credit Suisse Group lowered shares of ResMed from an “outperform” rating to a “neutral” rating in a research note on Tuesday. Finally, BidaskClub lowered shares of ResMed from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. ResMed currently has a consensus rating of “Hold” and a consensus target price of $65.63.

In other news, CFO Brett Sandercock sold 1,250 shares of ResMed stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $71.02, for a total value of $88,775.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard Sulpizio sold 65,887 shares of ResMed stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $77.82, for a total transaction of $5,127,326.34. Following the completion of the transaction, the director now owns 4,429 shares of the company’s stock, valued at approximately $344,664.78. The disclosure for this sale can be found here. Insiders sold 180,260 shares of company stock valued at $13,715,644 in the last quarter. Corporate insiders own 1.97% of the company’s stock.

About ResMed

ResMed Inc is a holding company. The Company is engaged in the development, manufacturing, distribution and marketing of medical devices and cloud-based software applications that diagnose, treat and manage respiratory disorders, including sleep disordered breathing (SDB), chronic obstructive pulmonary disease (COPD), neuromuscular disease and other diseases.

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Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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