Commonwealth of Pennsylvania Public School Empls Retrmt SYS Buys 2,374 Shares of ResMed Inc. $RMD

Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of ResMed Inc. (NYSE:RMD) by 7.1% in the 2nd quarter, Holdings Channel.com reports. The fund owned 35,961 shares of the medical equipment provider’s stock after purchasing an additional 2,374 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in ResMed were worth $9,278,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of RMD. Larson Financial Group LLC increased its holdings in shares of ResMed by 926.7% in the first quarter. Larson Financial Group LLC now owns 308 shares of the medical equipment provider’s stock worth $69,000 after purchasing an additional 278 shares during the period. Private Advisor Group LLC increased its stake in ResMed by 18.3% in the 1st quarter. Private Advisor Group LLC now owns 3,244 shares of the medical equipment provider’s stock worth $726,000 after acquiring an additional 501 shares during the last quarter. Twin Capital Management Inc. raised its holdings in shares of ResMed by 5.6% in the 1st quarter. Twin Capital Management Inc. now owns 3,759 shares of the medical equipment provider’s stock valued at $841,000 after acquiring an additional 200 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in ResMed by 3.0% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 11,266 shares of the medical equipment provider’s stock valued at $2,522,000 after purchasing an additional 325 shares in the last quarter. Finally, Lindbrook Capital LLC lifted its position in ResMed by 24.3% during the first quarter. Lindbrook Capital LLC now owns 1,249 shares of the medical equipment provider’s stock valued at $280,000 after purchasing an additional 244 shares during the last quarter. 54.98% of the stock is owned by institutional investors.

Insider Transactions at ResMed

In related news, Director Witte Jan De sold 487 shares of the company’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $250.25, for a total value of $121,871.75. Following the sale, the director directly owned 5,319 shares of the company’s stock, valued at $1,331,079.75. This represents a 8.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael J. Farrell sold 8,011 shares of the firm’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $249.75, for a total value of $2,000,747.25. Following the transaction, the chief executive officer directly owned 467,866 shares of the company’s stock, valued at $116,849,533.50. This represents a 1.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 18,607 shares of company stock worth $4,919,501 over the last quarter. Insiders own 0.65% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on RMD. KeyCorp increased their price objective on ResMed from $298.00 to $299.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. William Blair raised shares of ResMed to a “strong-buy” rating in a research note on Friday, August 1st. Wells Fargo & Company began coverage on ResMed in a research note on Monday, October 13th. They issued an “equal weight” rating and a $280.00 target price for the company. Piper Sandler lifted their target price on shares of ResMed from $248.00 to $270.00 and gave the stock a “neutral” rating in a research note on Friday, August 1st. Finally, Mizuho lowered their price target on shares of ResMed from $310.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $297.45.

ResMed Price Performance

Shares of ResMed stock opened at $244.74 on Monday. The company has a market cap of $35.72 billion, a PE ratio of 25.73, a P/E/G ratio of 1.75 and a beta of 0.87. The business has a 50 day moving average of $266.27 and a 200 day moving average of $263.16. 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 2.53, a current ratio of 3.44 and a debt-to-equity ratio of 0.11.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Friday, October 31st. The medical equipment provider reported $2.55 EPS for the quarter, topping the consensus estimate of $2.49 by $0.06. The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.33 billion. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.20 EPS. As a group, equities research analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, November 13th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Thursday, November 13th. ResMed’s payout ratio is presently 24.56%.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company 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 ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.