New York State Common Retirement Fund Sells 11,532 Shares of ResMed Inc. (NYSE:RMD)

New York State Common Retirement Fund reduced its holdings in ResMed Inc. (NYSE:RMD) by 6.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 162,963 shares of the medical equipment provider’s stock after selling 11,532 shares during the period. New York State Common Retirement Fund’s holdings in ResMed were worth $28,033,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. CWM LLC increased its position in shares of ResMed by 44.8% during the third quarter. CWM LLC now owns 3,881 shares of the medical equipment provider’s stock valued at $574,000 after purchasing an additional 1,200 shares during the period. AE Wealth Management LLC boosted its stake in ResMed by 35.9% in the third quarter. AE Wealth Management LLC now owns 6,573 shares of the medical equipment provider’s stock worth $972,000 after purchasing an additional 1,738 shares in the last quarter. Global Retirement Partners LLC lifted its stake in shares of ResMed by 12.9% during the third quarter. Global Retirement Partners LLC now owns 840 shares of the medical equipment provider’s stock valued at $124,000 after acquiring an additional 96 shares during the period. Caprock Group LLC lifted its stake in shares of ResMed by 7.6% during the third quarter. Caprock Group LLC now owns 1,991 shares of the medical equipment provider’s stock valued at $294,000 after acquiring an additional 141 shares during the period. Finally, Czech National Bank lifted its stake in shares of ResMed by 47.7% during the third quarter. Czech National Bank now owns 25,681 shares of the medical equipment provider’s stock valued at $3,797,000 after acquiring an additional 8,288 shares during the period. 54.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Royal Bank of Canada upped their price objective on ResMed from $181.00 to $182.00 and gave the company a “sector perform” rating in a report on Thursday, January 25th. Oppenheimer upped their price objective on ResMed from $185.00 to $205.00 and gave the company an “outperform” rating in a report on Tuesday, January 30th. KeyCorp assumed coverage on ResMed in a report on Tuesday, February 6th. They issued an “overweight” rating and a $227.00 price objective for the company. Mizuho reiterated a “buy” rating and issued a $215.00 price objective on shares of ResMed in a report on Wednesday, March 27th. Finally, Needham & Company LLC upped their price objective on ResMed from $215.00 to $224.00 and gave the company a “buy” rating in a report on Monday, April 1st. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $199.20.

ResMed Stock Down 0.2 %

Shares of ResMed stock opened at $183.43 on Friday. The business has a 50-day moving average of $186.31 and a two-hundred day moving average of $171.47. ResMed Inc. has a 1 year low of $132.24 and a 1 year high of $243.52. The company has a market capitalization of $26.98 billion, a P/E ratio of 30.32, a price-to-earnings-growth ratio of 2.25 and a beta of 0.67. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.11 and a quick ratio of 1.89.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $0.22. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.17 billion. ResMed had a return on equity of 23.86% and a net margin of 19.77%. ResMed’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.68 EPS. As a group, equities analysts predict that ResMed Inc. will post 7.47 EPS for the current year.

Insider Buying and Selling at ResMed

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

ResMed 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.