Louisiana State Employees Retirement System Acquires 1,600 Shares of ResMed Inc. (NYSE:RMD)

Louisiana State Employees Retirement System boosted its holdings in shares of ResMed Inc. (NYSE:RMD) by 21.6% during the 4th quarter, Holdings Channel reports. The firm owned 9,000 shares of the medical equipment provider’s stock after buying an additional 1,600 shares during the period. Louisiana State Employees Retirement System’s holdings in ResMed were worth $1,913,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. PNC Financial Services Group Inc. increased its position in ResMed by 0.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 122,602 shares of the medical equipment provider’s stock worth $23,539,000 after purchasing an additional 880 shares during the period. Baird Financial Group Inc. boosted its stake in shares of ResMed by 3.8% during the 2nd quarter. Baird Financial Group Inc. now owns 5,500 shares of the medical equipment provider’s stock worth $853,000 after purchasing an additional 200 shares during the period. Glenmede Trust Co. NA boosted its stake in shares of ResMed by 97.5% during the 2nd quarter. Glenmede Trust Co. NA now owns 6,583 shares of the medical equipment provider’s stock worth $1,263,000 after purchasing an additional 3,249 shares during the period. Man Group plc boosted its stake in shares of ResMed by 304.5% during the 2nd quarter. Man Group plc now owns 14,150 shares of the medical equipment provider’s stock worth $2,717,000 after purchasing an additional 10,652 shares during the period. Finally, Captrust Financial Advisors lifted its holdings in ResMed by 21.8% during the 2nd quarter. Captrust Financial Advisors now owns 4,733 shares of the medical equipment provider’s stock valued at $903,000 after buying an additional 848 shares in the last quarter. 69.38% of the stock is currently owned by institutional investors.

A number of equities research analysts recently weighed in on RMD shares. UBS Group upgraded shares of ResMed from a “neutral” rating to a “buy” rating and set a $210.00 price objective for the company in a report on Monday, November 2nd. Zacks Investment Research lowered shares of ResMed from a “buy” rating to a “hold” rating and set a $222.00 price objective for the company. in a report on Wednesday, December 30th. Bank of America upgraded shares of ResMed from an “underperform” rating to a “neutral” rating and set a $186.00 price objective for the company in a report on Tuesday, October 27th. Credit Suisse Group upgraded shares of ResMed from a “neutral” rating to an “outperform” rating in a report on Friday, October 30th. Finally, JPMorgan Chase & Co. upgraded shares of ResMed from an “underweight” rating to a “neutral” rating and set a $165.00 price objective for the company in a report on Friday, October 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $194.83.

In other ResMed news, insider Rajwant Sodhi sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $195.16, for a total transaction of $292,740.00. Following the sale, the insider now owns 31,089 shares of the company’s stock, valued at approximately $6,067,329.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Justin Leong sold 7,740 shares of the business’s stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $211.36, for a total transaction of $1,635,926.40. Following the sale, the insider now directly owns 33,126 shares in the company, valued at approximately $7,001,511.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,082 shares of company stock valued at $5,075,731. 1.33% of the stock is currently owned by company insiders.

NYSE:RMD opened at $216.48 on Thursday. ResMed Inc. has a one year low of $108.85 and a one year high of $224.24. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.84 and a current ratio of 2.53. The firm has a market cap of $31.37 billion, a P/E ratio of 50.70, a P/E/G ratio of 2.73 and a beta of 0.38. The firm has a 50-day simple moving average of $211.90 and a 200-day simple moving average of $193.55.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, October 29th. The medical equipment provider reported $1.27 EPS for the quarter, topping the consensus estimate of $0.98 by $0.29. The firm had revenue of $751.90 million during the quarter, compared to analyst estimates of $709.47 million. ResMed had a net margin of 21.02% and a return on equity of 30.34%. ResMed’s revenue was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.93 EPS. On average, research analysts predict that ResMed Inc. will post 4.75 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 17th. Investors of record on Thursday, November 12th were paid a dividend of $0.39 per share. The ex-dividend date was Tuesday, November 10th. This represents a $1.56 annualized dividend and a dividend yield of 0.72%. ResMed’s dividend payout ratio (DPR) is presently 32.77%.

About ResMed

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.

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Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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