VIRGINIA RETIREMENT SYSTEMS ET Al Acquires 3,200 Shares of ResMed Inc. $RMD

VIRGINIA RETIREMENT SYSTEMS ET Al increased its holdings in shares of ResMed Inc. (NYSE:RMD) by 2.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 136,700 shares of the medical equipment provider’s stock after purchasing an additional 3,200 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in ResMed were worth $37,419,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Canada Pension Plan Investment Board lifted its holdings in ResMed by 11.7% during the first quarter. Canada Pension Plan Investment Board now owns 14,884 shares of the medical equipment provider’s stock worth $3,332,000 after buying an additional 1,556 shares during the period. Evergreen Capital Management LLC increased its holdings in shares of ResMed by 31.8% in the 1st quarter. Evergreen Capital Management LLC now owns 1,627 shares of the medical equipment provider’s stock valued at $364,000 after acquiring an additional 393 shares during the period. Panagora Asset Management Inc. raised its position in shares of ResMed by 21.2% in the 1st quarter. Panagora Asset Management Inc. now owns 6,598 shares of the medical equipment provider’s stock worth $1,477,000 after acquiring an additional 1,154 shares in the last quarter. Quarry LP lifted its stake in shares of ResMed by 141.1% during the 1st quarter. Quarry LP now owns 311 shares of the medical equipment provider’s stock worth $70,000 after purchasing an additional 182 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in ResMed by 10.3% during the first quarter. Royal Bank of Canada now owns 314,502 shares of the medical equipment provider’s stock valued at $70,401,000 after purchasing an additional 29,451 shares in the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $251.47, for a total value of $502,940.00. Following the completion of the transaction, the director directly owned 68,773 shares in the company, valued at $17,294,346.31. This trade represents a 2.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Witte Jan De sold 2,055 shares of ResMed stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $255.00, for a total value of $524,025.00. Following the sale, the director directly owned 4,261 shares of the company’s stock, valued at $1,086,555. This trade represents a 32.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 22,562 shares of company stock worth $5,919,030 in the last 90 days. Insiders own 0.65% of the company’s stock.

ResMed Stock Up 0.1%

RMD stock opened at $243.19 on Wednesday. The stock has a market capitalization of $35.49 billion, a PE ratio of 24.89, a price-to-earnings-growth ratio of 1.64 and a beta of 0.87. ResMed Inc. has a 52 week low of $199.92 and a 52 week high of $293.81. The company has a quick ratio of 2.13, a current ratio of 2.89 and a debt-to-equity ratio of 0.07. The firm has a 50 day moving average of $250.19 and a 200 day moving average of $263.62.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.06. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.33 billion. ResMed had a net margin of 27.35% and a return on equity of 25.45%. ResMed’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.20 EPS. Sell-side analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, November 13th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Thursday, November 13th. ResMed’s dividend payout ratio is presently 24.56%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on RMD. Robert W. Baird reiterated a “neutral” rating and issued a $275.00 target price (down previously from $300.00) on shares of ResMed in a research note on Tuesday, December 16th. Stifel Nicolaus cut their price objective on shares of ResMed from $270.00 to $260.00 and set a “hold” rating on the stock in a research report on Thursday, December 18th. Weiss Ratings reissued a “hold (c+)” rating on shares of ResMed in a research report on Monday. Mizuho lowered their target price on shares of ResMed from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, October 31st. Finally, KeyCorp upped their price target on ResMed from $298.00 to $299.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $296.09.

About ResMed

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.