Illinois Municipal Retirement Fund Increases Stake in ResMed Inc. (NYSE:RMD)

Illinois Municipal Retirement Fund raised its holdings in ResMed Inc. (NYSE:RMD) by 33.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 72,893 shares of the medical equipment provider’s stock after purchasing an additional 18,368 shares during the period. Illinois Municipal Retirement Fund’s holdings in ResMed were worth $12,539,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its holdings in ResMed by 224.6% in the third quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 128 shares during the period. Planned Solutions Inc. acquired a new stake in ResMed in the fourth quarter valued at approximately $34,000. Riverview Trust Co grew its holdings in ResMed by 255.9% in the third quarter. Riverview Trust Co now owns 210 shares of the medical equipment provider’s stock valued at $31,000 after purchasing an additional 151 shares during the period. MV Capital Management Inc. grew its holdings in ResMed by 39.0% in the fourth quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock valued at $37,000 after purchasing an additional 60 shares during the period. Finally, Operose Advisors LLC acquired a new stake in shares of ResMed in the third quarter worth approximately $32,000. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Trading Up 2.1 %

ResMed stock traded up $3.86 during trading on Tuesday, reaching $184.21. 470,427 shares of the company were exchanged, compared to its average volume of 1,004,748. ResMed Inc. has a 52-week low of $132.24 and a 52-week high of $243.52. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.11 and a quick ratio of 1.89. The company has a market capitalization of $27.10 billion, a P/E ratio of 29.81, a PEG ratio of 2.19 and a beta of 0.67. The stock’s 50 day simple moving average is $186.14 and its two-hundred day simple moving average is $171.04.

ResMed (NYSE:RMD) last posted its earnings results on Wednesday, January 24th. The medical equipment provider reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.81 by $0.07. ResMed had a return on equity of 23.86% and a net margin of 19.77%. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the business earned $1.66 earnings per share. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. On average, equities research analysts expect that ResMed Inc. will post 7.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Thursday, February 8th were given a $0.48 dividend. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $1.92 dividend on an annualized basis and a yield of 1.04%. ResMed’s dividend payout ratio is currently 31.74%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on RMD shares. Royal Bank of Canada lifted their price target on ResMed from $181.00 to $182.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 25th. JPMorgan Chase & Co. lifted their price target on ResMed from $160.00 to $195.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 9th. Mizuho reaffirmed a “buy” rating and issued a $215.00 price target on shares of ResMed in a research note on Wednesday, March 27th. Oppenheimer lifted their price target on ResMed from $185.00 to $205.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 30th. Finally, KeyCorp started coverage on ResMed in a research note on Tuesday, February 6th. They issued an “overweight” rating and a $227.00 price target on the stock. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, ResMed presently has an average rating of “Moderate Buy” and an average target price of $199.20.

Insider Buying and Selling at ResMed

In related news, General Counsel Michael J. Rider sold 200 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $173.25, for a total value of $34,650.00. Following the sale, the general counsel now owns 6,688 shares in the company, valued at approximately $1,158,696. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, General Counsel Michael J. Rider sold 200 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $173.25, for a total value of $34,650.00. Following the sale, the general counsel now owns 6,688 shares in the company, valued at approximately $1,158,696. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Peter C. Farrell sold 10,935 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value of $1,997,387.10. Following the completion of the sale, the director now owns 157,404 shares in the company, valued at approximately $28,751,414.64. The disclosure for this sale can be found here. Insiders have sold 11,216 shares of company stock worth $2,046,617 over the last quarter. 1.21% of the stock is currently owned by company insiders.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 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, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.