New York State Teachers Retirement System trimmed its position in ResMed Inc. (NYSE:RMD) by 0.1% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 199,250 shares of the medical equipment provider’s stock after selling 195 shares during the period. New York State Teachers Retirement System owned about 0.14% of ResMed worth $24,314,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the business. BlackRock Inc. grew its position in shares of ResMed by 1.8% during the 1st quarter. BlackRock Inc. now owns 11,980,416 shares of the medical equipment provider’s stock valued at $1,245,605,000 after acquiring an additional 216,173 shares during the period. WCM Investment Management LLC grew its position in shares of ResMed by 63.3% during the 1st quarter. WCM Investment Management LLC now owns 7,059,797 shares of the medical equipment provider’s stock valued at $734,008,000 after acquiring an additional 2,735,434 shares during the period. Geode Capital Management LLC grew its position in shares of ResMed by 7.0% during the 4th quarter. Geode Capital Management LLC now owns 2,020,799 shares of the medical equipment provider’s stock valued at $229,741,000 after acquiring an additional 131,732 shares during the period. Northern Trust Corp grew its position in shares of ResMed by 16.4% during the 1st quarter. Northern Trust Corp now owns 1,954,810 shares of the medical equipment provider’s stock valued at $203,242,000 after acquiring an additional 276,097 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of ResMed by 6.8% during the 1st quarter. JPMorgan Chase & Co. now owns 1,463,046 shares of the medical equipment provider’s stock valued at $152,113,000 after acquiring an additional 93,024 shares during the period. 67.13% of the stock is owned by institutional investors and hedge funds.
Shares of RMD stock traded up $0.19 during trading on Tuesday, reaching $123.83. 29,771 shares of the company’s stock traded hands, compared to its average volume of 446,353. The company has a market capitalization of $17.70 billion, a P/E ratio of 35.08, a P/E/G ratio of 2.97 and a beta of 0.46. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.38 and a quick ratio of 1.69. The stock has a 50-day moving average price of $121.17. ResMed Inc. has a 1 year low of $90.64 and a 1 year high of $125.79.
ResMed (NYSE:RMD) last posted its earnings results on Thursday, May 2nd. The medical equipment provider reported $0.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.05. ResMed had a net margin of 17.65% and a return on equity of 26.46%. The business had revenue of $662.23 million for the quarter, compared to analysts’ expectations of $657.82 million. During the same period in the prior year, the company posted $0.92 EPS. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. Equities research analysts forecast that ResMed Inc. will post 3.61 EPS for the current year.
A number of brokerages recently commented on RMD. ValuEngine cut shares of Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. set a €8.75 ($10.17) price target on shares of Commerzbank and gave the company a “buy” rating in a research note on Thursday, April 18th. Zacks Investment Research upgraded shares of Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research note on Monday, July 8th. Finally, UBS Group cut shares of ResMed from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. ResMed currently has an average rating of “Buy” and a consensus price target of $116.25.
In other news, insider Robert Andrew Douglas sold 4,111 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $124.50, for a total transaction of $511,819.50. Following the sale, the insider now owns 48,721 shares in the company, valued at approximately $6,065,764.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Brett Sandercock sold 3,000 shares of the firm’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $102.98, for a total transaction of $308,940.00. Following the sale, the chief financial officer now owns 82,390 shares in the company, valued at approximately $8,484,522.20. The disclosure for this sale can be found here. Insiders sold a total of 102,061 shares of company stock worth $11,769,200 over the last quarter. Corporate insiders own 1.24% of the company’s stock.
ResMed Company Profile
ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. 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, portable oxygen concentrators, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.
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