Illinois Municipal Retirement Fund Purchases 2,505 Shares of ResMed Inc. $RMD

Illinois Municipal Retirement Fund increased its position in ResMed Inc. (NYSE:RMD) by 36.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 9,355 shares of the medical equipment provider’s stock after buying an additional 2,505 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in ResMed were worth $2,561,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of RMD. SJS Investment Consulting Inc. raised its stake in shares of ResMed by 1,433.3% during the third quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 86 shares in the last quarter. WFA of San Diego LLC bought a new position in shares of ResMed during the 2nd quarter valued at $26,000. Westside Investment Management Inc. raised its position in ResMed by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 132 shares of the medical equipment provider’s stock worth $36,000 after purchasing an additional 66 shares during the period. GoalVest Advisory LLC bought a new stake in ResMed in the third quarter worth $37,000. Finally, Winnow Wealth LLC purchased a new stake in ResMed during the third quarter valued at about $54,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Insider Buying and Selling at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $251.31, for a total transaction of $502,620.00. Following the sale, the director directly owned 64,773 shares in the company, valued at $16,278,102.63. The trade was a 3.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Witte Jan De sold 2,055 shares of the company’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $255.00, for a total value of $524,025.00. Following the completion of the sale, the director directly owned 4,261 shares in the company, valued at approximately $1,086,555. The trade was a 32.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 18,137 shares of company stock valued at $4,658,832. 0.65% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Robert W. Baird set a $281.00 price objective on ResMed in a report on Friday, January 30th. Stifel Nicolaus lifted their price target on ResMed from $260.00 to $265.00 and gave the stock a “hold” rating in a research note on Friday, January 30th. Piper Sandler increased their price objective on ResMed from $270.00 to $275.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Wall Street Zen raised shares of ResMed from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Finally, Mizuho lowered their price target on shares of ResMed from $310.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, ResMed presently has an average rating of “Moderate Buy” and an average target price of $299.27.

ResMed Stock Performance

NYSE:RMD opened at $252.47 on Monday. The company has a quick ratio of 2.32, a current ratio of 3.06 and a debt-to-equity ratio of 0.06. The firm’s fifty day simple moving average is $252.55 and its 200 day simple moving average is $262.74. The stock has a market cap of $36.78 billion, a P/E ratio of 24.97, a price-to-earnings-growth ratio of 1.68 and a beta of 0.87. ResMed Inc. has a twelve month low of $199.92 and a twelve month high of $293.81.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, January 29th. The medical equipment provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.68 by $0.13. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the prior year, the business earned $2.43 EPS. As a group, research analysts predict that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Thursday, February 12th will be issued a $0.60 dividend. The ex-dividend date is Thursday, February 12th. This represents a $2.40 annualized dividend and a yield of 1.0%. ResMed’s dividend payout ratio (DPR) is 23.74%.

ResMed Company Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.