Strs Ohio Reduces Position in ResMed Inc. $RMD

Strs Ohio decreased its holdings in shares of ResMed Inc. (NYSE:RMD) by 89.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,497 shares of the medical equipment provider’s stock after selling 30,494 shares during the quarter. Strs Ohio’s holdings in ResMed were worth $842,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. PFA Pension Forsikringsaktieselskab purchased a new stake in shares of ResMed during the fourth quarter worth $45,794,000. Bogart Wealth LLC grew its holdings in shares of ResMed by 2.3% during the fourth quarter. Bogart Wealth LLC now owns 18,018 shares of the medical equipment provider’s stock worth $4,340,000 after buying an additional 406 shares in the last quarter. Keybank National Association OH grew its holdings in shares of ResMed by 8.0% during the fourth quarter. Keybank National Association OH now owns 139,177 shares of the medical equipment provider’s stock worth $33,524,000 after buying an additional 10,346 shares in the last quarter. Vest Financial LLC grew its holdings in shares of ResMed by 123.8% during the fourth quarter. Vest Financial LLC now owns 98,002 shares of the medical equipment provider’s stock worth $23,606,000 after buying an additional 54,214 shares in the last quarter. Finally, Certuity LLC grew its holdings in shares of ResMed by 561.7% during the fourth quarter. Certuity LLC now owns 6,736 shares of the medical equipment provider’s stock worth $1,623,000 after buying an additional 5,718 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Trading Down 1.3%

Shares of RMD opened at $206.83 on Friday. The company has a current ratio of 3.01, a quick ratio of 2.33 and a debt-to-equity ratio of 0.06. ResMed Inc. has a 12-month low of $198.64 and a 12-month high of $293.81. The firm has a 50-day moving average price of $230.41 and a 200 day moving average price of $245.04. The firm has a market capitalization of $30.13 billion, a P/E ratio of 19.94, a P/E/G ratio of 1.34 and a beta of 0.84.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.07. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the prior year, the firm posted $2.37 earnings per share. ResMed’s quarterly revenue was up 10.8% on a year-over-year basis. Sell-side analysts forecast that ResMed Inc. will post 11.13 EPS for the current year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, May 14th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.2%. ResMed’s dividend payout ratio is currently 23.14%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on RMD. Evercore set a $255.00 target price on shares of ResMed and gave the stock an “outperform” rating in a report on Monday, April 13th. Weiss Ratings lowered shares of ResMed from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, March 19th. Robert W. Baird set a $225.00 target price on shares of ResMed in a report on Friday, May 1st. Citigroup dropped their target price on shares of ResMed from $345.00 to $340.00 and set a “buy” rating for the company in a report on Thursday, April 9th. Finally, KeyCorp dropped their price objective on shares of ResMed from $302.00 to $290.00 and set an “overweight” rating for the company in a report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, ResMed currently has an average rating of “Moderate Buy” and an average target price of $286.18.

Insider Transactions at ResMed

In other ResMed news, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $225.50, for a total transaction of $1,125,470.50. Following the completion of the transaction, the chief executive officer owned 466,223 shares of the company’s stock, valued at $105,133,286.50. This trade represents a 1.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $225.00, for a total transaction of $450,000.00. The SEC filing for this sale provides additional information. Insiders sold 18,973 shares of company stock valued at $4,715,237 in the last three months. 0.65% of the stock is currently owned by insiders.

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.