ResMed Inc. (NYSE:RMD) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its position in shares of ResMed Inc. (NYSE:RMD) by 6.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 162,963 shares of the medical equipment provider’s stock after selling 11,532 shares during the quarter. New York State Common Retirement Fund owned approximately 0.11% of ResMed worth $28,033,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Stock Yards Bank & Trust Co. purchased a new position in shares of ResMed during the 4th quarter valued at approximately $206,000. Handelsbanken Fonder AB increased its holdings in shares of ResMed by 22.5% during the 4th quarter. Handelsbanken Fonder AB now owns 70,272 shares of the medical equipment provider’s stock valued at $12,088,000 after purchasing an additional 12,899 shares in the last quarter. CWM LLC increased its holdings in shares of ResMed by 14.6% during the 4th quarter. CWM LLC now owns 4,448 shares of the medical equipment provider’s stock valued at $765,000 after purchasing an additional 567 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of ResMed by 1.4% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 13,053 shares of the medical equipment provider’s stock valued at $2,245,000 after purchasing an additional 185 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd increased its holdings in ResMed by 9.3% in the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 14,631 shares of the medical equipment provider’s stock worth $2,517,000 after acquiring an additional 1,250 shares in the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

ResMed Trading Down 0.2 %

Shares of RMD opened at $183.43 on Friday. The company has a current ratio of 3.11, a quick ratio of 1.89 and a debt-to-equity ratio of 0.27. ResMed Inc. has a 12-month low of $132.24 and a 12-month high of $243.52. The firm has a 50-day moving average price of $186.31 and a 200 day moving average price of $171.47. The firm has a market capitalization of $26.98 billion, a P/E ratio of 30.32, a P/E/G ratio of 2.25 and a beta of 0.67.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $0.22. ResMed had a net margin of 19.77% and a return on equity of 23.86%. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the firm posted $1.68 earnings per share. ResMed’s quarterly revenue was up 7.2% on a year-over-year basis. Sell-side analysts forecast that ResMed Inc. will post 7.47 EPS for the current year.

Insider Activity at ResMed

In other ResMed news, General Counsel Michael J. Rider sold 200 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $173.25, for a total transaction of $34,650.00. Following the completion of the transaction, the general counsel now owns 6,688 shares of the company’s stock, valued at $1,158,696. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other ResMed news, General Counsel Michael J. Rider sold 200 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $173.25, for a total transaction of $34,650.00. Following the completion of the transaction, the general counsel now owns 6,688 shares of the company’s stock, valued at $1,158,696. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Peter C. Farrell sold 10,935 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the transaction, the director now directly owns 157,404 shares of the company’s stock, valued at approximately $28,751,414.64. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,216 shares of company stock valued at $2,046,617. 1.21% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of ResMed from $160.00 to $195.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 9th. Oppenheimer upped their price objective on shares of ResMed from $185.00 to $205.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 30th. UBS Group upped their price objective on shares of ResMed from $175.00 to $180.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th. Mizuho restated a “buy” rating and set a $215.00 price objective on shares of ResMed in a research report on Wednesday, March 27th. Finally, Needham & Company LLC upped their price objective on shares of ResMed from $215.00 to $224.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $199.20.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 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, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.