Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its holdings in shares of ResMed Inc. (NYSE:RMD) by 21.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 11,713 shares of the medical equipment provider’s stock after selling 3,229 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in ResMed were worth $1,351,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the business. Morgan Stanley raised its position in shares of ResMed by 30.2% during the 2nd quarter. Morgan Stanley now owns 966,736 shares of the medical equipment provider’s stock valued at $100,135,000 after acquiring an additional 223,963 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of ResMed by 12.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 813,087 shares of the medical equipment provider’s stock valued at $84,220,000 after buying an additional 87,893 shares during the period. Swiss National Bank grew its holdings in shares of ResMed by 3.9% in the 2nd quarter. Swiss National Bank now owns 472,000 shares of the medical equipment provider’s stock valued at $48,890,000 after buying an additional 17,600 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of ResMed by 3.1% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 466,270 shares of the medical equipment provider’s stock valued at $53,780,000 after buying an additional 13,831 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. grew its holdings in shares of ResMed by 2.1% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 454,755 shares of the medical equipment provider’s stock valued at $52,451,000 after buying an additional 9,495 shares during the period. Institutional investors own 65.61% of the company’s stock.
Several brokerages have recently issued reports on RMD. Zacks Investment Research raised shares of ResMed from a “sell” rating to a “hold” rating in a report on Tuesday, July 31st. BMO Capital Markets boosted their price target on shares of ResMed from $107.00 to $109.00 and gave the company a “market perform” rating in a report on Friday, October 26th. Finally, Credit Suisse Group raised shares of ResMed from a “neutral” rating to an “outperform” rating in a report on Friday, October 26th. 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 company presently has a consensus rating of “Hold” and an average target price of $114.50.
ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, October 25th. The medical equipment provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.01. ResMed had a net margin of 13.94% and a return on equity of 26.29%. The company had revenue of $588.28 million during the quarter, compared to analyst estimates of $576.66 million. Equities analysts expect that ResMed Inc. will post 3.7 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Thursday, November 8th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend is Wednesday, November 7th. ResMed’s dividend payout ratio (DPR) is 41.93%.
In related news, insider James Hollingshead sold 600 shares of the company’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $111.59, for a total value of $66,954.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brett Sandercock sold 2,000 shares of the company’s stock in a transaction on Monday, September 17th. The stock was sold at an average price of $114.30, for a total transaction of $228,600.00. Following the completion of the transaction, the chief financial officer now directly owns 73,232 shares of the company’s stock, valued at $8,370,417.60. The disclosure for this sale can be found here. Insiders sold a total of 20,027 shares of company stock valued at $2,136,094 in the last three months. 1.24% of the stock is owned by company insiders.
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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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