Public Employees Retirement System of Ohio lowered its position in shares of ResMed Inc. (NYSE:RMD) by 3.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 58,623 shares of the medical equipment provider’s stock after selling 1,873 shares during the period. Public Employees Retirement System of Ohio’s holdings in ResMed were worth $4,512,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the business. Cubist Systematic Strategies LLC purchased a new position in shares of ResMed in the third quarter worth about $113,000. YorkBridge Wealth Partners LLC increased its holdings in shares of ResMed by 4.9% in the second quarter. YorkBridge Wealth Partners LLC now owns 1,476 shares of the medical equipment provider’s stock worth $115,000 after buying an additional 69 shares during the period. Toronto Dominion Bank increased its holdings in shares of ResMed by 12.8% in the second quarter. Toronto Dominion Bank now owns 1,740 shares of the medical equipment provider’s stock worth $135,000 after buying an additional 197 shares during the period. BB&T Investment Services Inc. purchased a new position in shares of ResMed in the second quarter worth about $214,000. Finally, Pacer Advisors Inc. increased its holdings in shares of ResMed by 8.3% in the second quarter. Pacer Advisors Inc. now owns 2,924 shares of the medical equipment provider’s stock worth $228,000 after buying an additional 225 shares during the period. 61.85% of the stock is owned by hedge funds and other institutional investors.
In related news, CFO Brett Sandercock sold 1,250 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $77.05, for a total transaction of $96,312.50. Following the transaction, the chief financial officer now owns 64,691 shares in the company, valued at approximately $4,984,441.55. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider David Pendarvis sold 2,804 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $84.17, for a total value of $236,012.68. Following the transaction, the insider now owns 97,257 shares in the company, valued at approximately $8,186,121.69. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 184,693 shares of company stock worth $15,149,955. 1.77% of the stock is owned by company insiders.
ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $0.66 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.66. ResMed had a return on equity of 21.53% and a net margin of 16.58%. The company had revenue of $523.66 million for the quarter, compared to the consensus estimate of $506.08 million. During the same quarter in the previous year, the business earned $0.62 EPS. ResMed’s revenue was up 12.5% compared to the same quarter last year. equities analysts forecast that ResMed Inc. will post 3.03 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 14th. Investors of record on Thursday, November 9th were issued a dividend of $0.35 per share. The ex-dividend date was Wednesday, November 8th. This represents a $1.40 dividend on an annualized basis and a yield of 1.64%. ResMed’s dividend payout ratio is presently 56.68%.
RMD has been the topic of several analyst reports. Zacks Investment Research upgraded ResMed from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a report on Thursday, October 12th. Northland Securities reiterated a “sell” rating and issued a $55.00 price objective on shares of ResMed in a report on Friday, October 27th. Needham & Company LLC reiterated a “sell” rating on shares of ResMed in a report on Friday, September 8th. JPMorgan Chase & Co. lifted their price objective on ResMed from $72.00 to $73.00 and gave the stock an “overweight” rating in a report on Monday, October 30th. Finally, Barclays lifted their price objective on ResMed from $65.00 to $68.00 and gave the stock an “underweight” rating in a report on Monday, September 25th. Five analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $68.71.
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ResMed Inc is a holding company. The Company is engaged in the development, manufacturing, distribution and marketing of medical devices and cloud-based software applications that diagnose, treat and manage respiratory disorders, including sleep disordered breathing (SDB), chronic obstructive pulmonary disease (COPD), neuromuscular disease and other diseases.
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