Texas Permanent School Fund Lowers Stake in ResMed Inc. (RMD)

Texas Permanent School Fund reduced its stake in shares of ResMed Inc. (NYSE:RMD) by 2.7% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 27,878 shares of the medical equipment provider’s stock after selling 784 shares during the quarter. Texas Permanent School Fund’s holdings in ResMed were worth $2,898,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the company. Farmers & Merchants Investments Inc. lifted its stake in shares of ResMed by 49.0% during the first quarter. Farmers & Merchants Investments Inc. now owns 295 shares of the medical equipment provider’s stock worth $31,000 after buying an additional 97 shares during the period. Louisiana State Employees Retirement System lifted its stake in shares of ResMed by 1.3% during the first quarter. Louisiana State Employees Retirement System now owns 7,600 shares of the medical equipment provider’s stock worth $790,000 after buying an additional 100 shares during the period. Thrivent Financial for Lutherans lifted its stake in shares of ResMed by 1.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 6,239 shares of the medical equipment provider’s stock worth $710,000 after buying an additional 110 shares during the period. Eukles Asset Management lifted its stake in shares of ResMed by 0.8% during the first quarter. Eukles Asset Management now owns 18,177 shares of the medical equipment provider’s stock worth $1,890,000 after buying an additional 145 shares during the period. Finally, ETF Managers Group LLC lifted its stake in shares of ResMed by 15.7% during the fourth quarter. ETF Managers Group LLC now owns 1,323 shares of the medical equipment provider’s stock worth $151,000 after buying an additional 180 shares during the period. Institutional investors and hedge funds own 67.91% of the company’s stock.

RMD has been the subject of a number of research reports. Zacks Investment Research upgraded shares of ResMed from a “sell” rating to a “buy” rating and set a $116.00 target price for the company in a research report on Monday, April 1st. UBS Group upgraded shares of ResMed from a “neutral” rating to a “buy” rating and boosted their target price for the company from $109.00 to $119.00 in a research report on Monday, May 6th. ValuEngine upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Deutsche Bank upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research report on Wednesday, March 20th. Finally, JPMorgan Chase & Co. upgraded shares of ResMed from an “underweight” rating to a “neutral” rating and set a $95.00 target price for the company in a research report on Thursday, April 18th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $112.50.

NYSE RMD traded up $0.94 on Thursday, reaching $113.76. 8,912 shares of the company’s stock traded hands, compared to its average volume of 1,021,298. The company has a market capitalization of $15.90 billion, a PE ratio of 32.40, a P/E/G ratio of 2.88 and a beta of 0.56. ResMed Inc. has a fifty-two week low of $90.64 and a fifty-two week high of $118.50. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.38 and a quick ratio of 1.69.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, May 2nd. The medical equipment provider reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. The company had revenue of $662.23 million during the quarter, compared to the consensus estimate of $657.82 million. ResMed had a net margin of 17.65% and a return on equity of 26.46%. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.92 earnings per share. Research analysts expect that ResMed Inc. will post 3.63 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 9th will be given a $0.37 dividend. The ex-dividend date is Wednesday, May 8th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.30%. ResMed’s dividend payout ratio (DPR) is currently 41.93%.

In other news, insider Rajwant Sodhi sold 16,739 shares of the business’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $101.50, for a total transaction of $1,699,008.50. Following the completion of the sale, the insider now owns 25,639 shares of the company’s stock, valued at $2,602,358.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael J. Farrell sold 6,651 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $101.05, for a total transaction of $672,083.55. Following the sale, the chief executive officer now directly owns 292,933 shares of the company’s stock, valued at approximately $29,600,879.65. The disclosure for this sale can be found here. In the last quarter, insiders sold 76,669 shares of company stock valued at $7,929,258. Insiders own 1.24% of the company’s stock.

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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 disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. It offers various products and solutions for a range of respiratory disorders, including technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, portable oxygen concentrators, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.

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Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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