Teacher Retirement System of Texas lifted its stake in ResMed Inc. (NYSE:RMD) by 56.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,458 shares of the medical equipment provider’s stock after purchasing an additional 20,123 shares during the quarter. Teacher Retirement System of Texas’ holdings in ResMed were worth $10,760,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of RMD. Endurance Wealth Management Inc. bought a new stake in shares of ResMed in the 1st quarter worth approximately $27,000. Regent Peak Wealth Advisors LLC bought a new position in ResMed in the 4th quarter valued at approximately $30,000. Capital Asset Advisory Services LLC bought a new position in ResMed in the 4th quarter valued at approximately $34,000. First Quadrant L P CA bought a new position in ResMed in the 1st quarter valued at approximately $35,000. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its position in ResMed by 52.4% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 218 shares of the medical equipment provider’s stock valued at $42,000 after acquiring an additional 75 shares in the last quarter. 67.26% of the stock is currently owned by hedge funds and other institutional investors.
In other ResMed news, insider Rajwant Sodhi sold 1,500 shares of the stock in a transaction on Thursday, April 1st. The stock was sold at an average price of $194.14, for a total value of $291,210.00. Following the completion of the sale, the insider now owns 30,088 shares in the company, valued at approximately $5,841,284.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Robert Andrew Douglas sold 8,000 shares of the stock in a transaction on Monday, May 17th. The stock was sold at an average price of $195.00, for a total value of $1,560,000.00. Following the completion of the sale, the chief operating officer now owns 8,766 shares of the company’s stock, valued at approximately $1,709,370. The disclosure for this sale can be found here. Insiders sold a total of 26,719 shares of company stock valued at $5,282,179 over the last 90 days. 1.33% of the stock is currently owned by company insiders.
ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, April 29th. The medical equipment provider reported $1.30 EPS for the quarter, topping the consensus estimate of $1.22 by $0.08. ResMed had a return on equity of 28.85% and a net margin of 14.79%. Research analysts anticipate that ResMed Inc. will post 5.26 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 17th. Stockholders of record on Thursday, May 13th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, May 12th. This represents a $1.56 annualized dividend and a dividend yield of 0.71%. ResMed’s dividend payout ratio (DPR) is 32.77%.
Several research firms recently issued reports on RMD. JPMorgan Chase & Co. raised ResMed from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $206.00 to $219.00 in a research report on Friday, May 21st. CLSA raised ResMed from a “sell” rating to an “outperform” rating in a research report on Wednesday. Citigroup raised ResMed from a “neutral” rating to a “buy” rating in a research report on Tuesday, May 11th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised ResMed from a “neutral” rating to a “buy” rating in a report on Tuesday, May 11th. Finally, Needham & Company LLC raised ResMed from a “hold” rating to a “buy” rating and set a $229.00 price target on the stock in a report on Tuesday, March 16th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $207.43.
ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep apnea, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service.
Read More: What is the Coverage Ratio?
Want to see what other hedge funds are holding RMD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ResMed Inc. (NYSE:RMD).
Receive News & Ratings for ResMed Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ResMed and related companies with MarketBeat.com's FREE daily email newsletter.