Kentucky Retirement Systems Sells 139 Shares of ResMed Inc. (NYSE:RMD)

Kentucky Retirement Systems lowered its stake in shares of ResMed Inc. (NYSE:RMD) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,097 shares of the medical equipment provider’s stock after selling 139 shares during the quarter. Kentucky Retirement Systems’ holdings in ResMed were worth $2,309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in RMD. Geode Capital Management LLC boosted its position in ResMed by 10.9% during the third quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock valued at $939,114,000 after purchasing an additional 380,383 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings in ResMed by 726.3% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,801 shares of the medical equipment provider’s stock worth $69,281,000 after acquiring an additional 249,454 shares in the last quarter. Nordea Investment Management AB boosted its holdings in ResMed by 92.7% in the fourth quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider’s stock worth $103,214,000 after acquiring an additional 215,561 shares in the last quarter. State Street Corp boosted its holdings in ResMed by 1.9% in the third quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider’s stock worth $1,528,590,000 after acquiring an additional 116,918 shares in the last quarter. Finally, AustralianSuper Pty Ltd boosted its holdings in ResMed by 3,266.5% in the fourth quarter. AustralianSuper Pty Ltd now owns 103,923 shares of the medical equipment provider’s stock worth $23,766,000 after acquiring an additional 100,836 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Stifel Nicolaus assumed coverage on ResMed in a report on Friday, December 13th. They issued a “hold” rating and a $250.00 price target for the company. KeyCorp raised their price target on ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. UBS Group raised ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. JPMorgan Chase & Co. raised their price target on ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $244.73.

Insider Activity

In other news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total value of $484,220.00. Following the completion of the sale, the director now directly owns 77,218 shares in the company, valued at $18,695,249.98. The trade was a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael J. Farrell sold 8,009 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $236.77, for a total value of $1,896,290.93. Following the completion of the sale, the chief executive officer now owns 455,472 shares of the company’s stock, valued at $107,842,105.44. This trade represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,147 shares of company stock worth $2,905,745 over the last three months. 0.71% of the stock is currently owned by corporate insiders.

ResMed Stock Down 0.5 %

Shares of RMD stock opened at $231.61 on Friday. The stock has a 50 day moving average of $237.43 and a 200 day moving average of $239.07. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The stock has a market cap of $34.02 billion, a P/E ratio of 27.34, a P/E/G ratio of 1.53 and a beta of 0.70. ResMed Inc. has a twelve month low of $170.56 and a twelve month high of $263.05.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. As a group, sell-side analysts expect that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is presently 25.03%.

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.