Kentucky Retirement Systems Insurance Trust Fund Sells 386 Shares of ResMed Inc. (NYSE:RMD)

Kentucky Retirement Systems Insurance Trust Fund trimmed its stake in shares of ResMed Inc. (NYSE:RMD) by 7.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,854 shares of the medical equipment provider’s stock after selling 386 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in ResMed were worth $961,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Atlantic Edge Private Wealth Management LLC bought a new stake in ResMed in the fourth quarter worth approximately $27,000. Hall Laurie J Trustee bought a new stake in ResMed in the first quarter worth approximately $32,000. Planned Solutions Inc. bought a new stake in ResMed in the fourth quarter worth approximately $34,000. BOK Financial Private Wealth Inc. bought a new stake in ResMed in the first quarter worth approximately $35,000. Finally, MV Capital Management Inc. increased its holdings in ResMed by 39.0% in the fourth quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock worth $37,000 after purchasing an additional 60 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors.

ResMed Stock Performance

RMD stock traded up $8.93 during midday trading on Monday, hitting $205.97. The company’s stock had a trading volume of 292,492 shares, compared to its average volume of 1,047,211. The stock’s 50-day moving average price is $204.14 and its 200 day moving average price is $195.23. The company has a quick ratio of 1.97, a current ratio of 3.04 and a debt-to-equity ratio of 0.22. ResMed Inc. has a 1 year low of $132.24 and a 1 year high of $229.97. The stock has a market cap of $30.26 billion, a price-to-earnings ratio of 31.64, a PEG ratio of 1.70 and a beta of 0.66.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.22. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.17 billion. ResMed had a return on equity of 24.43% and a net margin of 20.91%. The business’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.68 earnings per share. On average, equities analysts forecast that ResMed Inc. will post 7.7 EPS for the current year.

Insider Buying and Selling at ResMed

In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $216.50, for a total value of $3,178,869.50. Following the sale, the chief executive officer now directly owns 440,752 shares in the company, valued at $95,422,808. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $216.50, for a total value of $3,178,869.50. Following the sale, the chief executive officer now directly owns 440,752 shares in the company, valued at $95,422,808. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Brett Sandercock sold 1,000 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $209.81, for a total value of $209,810.00. Following the sale, the chief financial officer now owns 91,056 shares in the company, valued at $19,104,459.36. The disclosure for this sale can be found here. Insiders have sold a total of 46,409 shares of company stock worth $9,602,796 over the last ninety days. 1.21% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on RMD. Oppenheimer downgraded ResMed from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. KeyCorp boosted their price objective on ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Citigroup downgraded ResMed from a “buy” rating to a “neutral” rating in a report on Monday, June 24th. Royal Bank of Canada boosted their price objective on ResMed from $200.00 to $204.00 and gave the company a “sector perform” rating in a report on Tuesday, July 23rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $236.00 target price on shares of ResMed in a research report on Monday, June 24th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, ResMed has an average rating of “Moderate Buy” and a consensus price target of $203.20.

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.