Strs Ohio Grows Stock Holdings in ResMed Inc. $RMD

Strs Ohio raised its holdings in ResMed Inc. (NYSE:RMD) by 874.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 33,991 shares of the medical equipment provider’s stock after acquiring an additional 30,501 shares during the period. Strs Ohio’s holdings in ResMed were worth $9,304,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. New Wave Wealth Advisors LLC grew its position in shares of ResMed by 2.8% in the third quarter. New Wave Wealth Advisors LLC now owns 1,899 shares of the medical equipment provider’s stock valued at $520,000 after purchasing an additional 52 shares during the period. Andina Capital Management LLC boosted its stake in ResMed by 4.2% in the 3rd quarter. Andina Capital Management LLC now owns 1,932 shares of the medical equipment provider’s stock worth $529,000 after buying an additional 77 shares during the last quarter. Rakuten Investment Management Inc. acquired a new stake in ResMed in the 3rd quarter worth about $879,000. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in ResMed by 7.6% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 99,526 shares of the medical equipment provider’s stock valued at $27,243,000 after buying an additional 6,991 shares during the period. Finally, Vest Financial LLC acquired a new position in shares of ResMed during the 3rd quarter valued at about $11,986,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

Analysts Set New Price Targets

RMD has been the topic of several recent analyst reports. Royal Bank Of Canada increased their price objective on shares of ResMed from $300.00 to $303.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Stifel Nicolaus cut their price target on shares of ResMed from $270.00 to $260.00 and set a “hold” rating on the stock in a research note on Thursday, December 18th. Mizuho decreased their price target on shares of ResMed from $310.00 to $300.00 and set an “outperform” rating on the stock in a report on Friday, October 31st. UBS Group restated a “buy” rating and set a $345.00 price objective on shares of ResMed in a report on Friday, December 12th. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $275.00 target price (down from $300.00) on shares of ResMed in a research report on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $296.09.

Insider Activity at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $248.83, for a total value of $497,660.00. Following the completion of the sale, the director owned 66,773 shares of the company’s stock, valued at $16,615,125.59. This trade represents a 2.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $248.46, for a total transaction of $1,240,063.86. Following the sale, the chief executive officer owned 466,223 shares in the company, valued at $115,837,766.58. This represents a 1.06% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 21,594 shares of company stock worth $5,403,495. 0.65% of the stock is currently owned by company insiders.

ResMed Price Performance

ResMed stock opened at $252.44 on Monday. The firm has a fifty day moving average of $249.96 and a 200-day moving average of $263.28. 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 market capitalization of $36.84 billion, a P/E ratio of 25.84, a PEG ratio of 1.70 and a beta of 0.88.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.06. ResMed had a net margin of 27.35% and a return on equity of 25.45%. The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the prior year, the company earned $2.20 EPS. The firm’s revenue was up 9.1% on a year-over-year basis. As a group, analysts predict that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, November 13th were paid a $0.60 dividend. The ex-dividend date was Thursday, November 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.0%. ResMed’s dividend payout ratio (DPR) is 24.56%.

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.