California State Teachers Retirement System Acquires 1,186 Shares of ResMed Inc. (NYSE:RMD)

California State Teachers Retirement System boosted its holdings in ResMed Inc. (NYSE:RMD) by 0.5% in the first quarter, Holdings Channel reports. The institutional investor owned 232,544 shares of the medical equipment provider’s stock after buying an additional 1,186 shares during the period. California State Teachers Retirement System’s holdings in ResMed were worth $46,051,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Raymond James & Associates raised its holdings in ResMed by 21.3% during the 4th quarter. Raymond James & Associates now owns 6,842 shares of the medical equipment provider’s stock worth $1,177,000 after purchasing an additional 1,200 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in ResMed by 11.6% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 21,519 shares of the medical equipment provider’s stock worth $3,702,000 after purchasing an additional 2,239 shares during the last quarter. SeaCrest Wealth Management LLC bought a new position in ResMed during the 4th quarter worth approximately $233,000. Fifth Third Bancorp raised its holdings in ResMed by 14.1% during the 4th quarter. Fifth Third Bancorp now owns 10,939 shares of the medical equipment provider’s stock worth $1,882,000 after purchasing an additional 1,350 shares during the last quarter. Finally, Miracle Mile Advisors LLC bought a new position in ResMed during the 4th quarter worth approximately $275,000. Institutional investors own 54.98% of the company’s stock.

Insider Transactions at ResMed

In other news, CEO Michael J. Farrell sold 14,683 shares of ResMed stock in a transaction on Monday, July 8th. The stock was sold at an average price of $192.97, for a total transaction of $2,833,378.51. Following the sale, the chief executive officer now directly owns 440,799 shares in the company, valued at approximately $85,060,983.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Brett Sandercock sold 1,000 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $194.35, for a total value of $194,350.00. Following the sale, the chief financial officer now directly owns 90,056 shares in the company, valued at approximately $17,502,383.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $192.97, for a total value of $2,833,378.51. Following the completion of the sale, the chief executive officer now owns 440,799 shares in the company, valued at $85,060,983.03. The disclosure for this sale can be found here. Insiders have sold 46,409 shares of company stock worth $9,602,796 in the last ninety days. Company insiders own 1.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on RMD shares. Royal Bank of Canada raised their price target on shares of ResMed from $200.00 to $204.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 23rd. Oppenheimer downgraded shares of ResMed from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. Citigroup downgraded shares of ResMed from a “buy” rating to a “neutral” rating in a research report on Monday, June 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $236.00 price objective on shares of ResMed in a research report on Monday, June 24th. Finally, KeyCorp lifted their price target on shares of ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, ResMed presently has an average rating of “Moderate Buy” and an average price target of $203.20.

ResMed Stock Performance

Shares of NYSE RMD traded up $2.22 during mid-day trading on Thursday, reaching $215.47. 47,520 shares of the company’s stock were exchanged, compared to its average volume of 1,043,363. The firm has a market capitalization of $31.65 billion, a price-to-earnings ratio of 32.76, a price-to-earnings-growth ratio of 1.79 and a beta of 0.66. ResMed Inc. has a 52 week low of $132.24 and a 52 week high of $225.49. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.04 and a quick ratio of 1.97. The firm has a 50-day moving average price of $203.62 and a two-hundred day moving average price of $195.81.

About ResMed

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.