New Mexico Educational Retirement Board Sells 100 Shares of ResMed Inc. (NYSE:RMD)

New Mexico Educational Retirement Board lowered its stake in shares of ResMed Inc. (NYSE:RMD) by 1.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,050 shares of the medical equipment provider’s stock after selling 100 shares during the quarter. New Mexico Educational Retirement Board’s holdings in ResMed were worth $1,612,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. State Street Corp increased its position in ResMed by 1.9% during 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 during the period. Geode Capital Management LLC increased 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 worth $939,114,000 after acquiring an additional 380,383 shares during the period. Charles Schwab Investment Management Inc. increased its position in ResMed by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 924,047 shares of the medical equipment provider’s stock worth $225,578,000 after acquiring an additional 13,985 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in ResMed by 0.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 742,411 shares of the medical equipment provider’s stock worth $181,237,000 after acquiring an additional 2,406 shares during the period. Finally, Nordea Investment Management AB boosted its stake in ResMed by 92.7% during the fourth quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider’s stock worth $103,214,000 after buying an additional 215,561 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

ResMed Stock Performance

Shares of NYSE:RMD opened at $232.93 on Monday. The stock has a market capitalization of $34.21 billion, a P/E ratio of 27.50, a P/E/G ratio of 1.57 and a beta of 0.70. ResMed Inc. has a 1-year low of $170.56 and a 1-year high of $263.05. 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 business has a 50-day moving average price of $238.51 and a two-hundred day moving average price of $238.68.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, topping 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%. Equities analysts predict that ResMed Inc. will post 9.44 earnings per share for the current year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 0.91%. ResMed’s dividend payout ratio is currently 25.03%.

Analysts Set New Price Targets

RMD has been the topic of a number of recent research reports. Stifel Nicolaus initiated coverage on shares of ResMed in a research note on Friday, December 13th. They set a “hold” rating and a $250.00 price target on the stock. KeyCorp lifted their price target on shares of ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Royal Bank of Canada lifted their price target on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. UBS Group upgraded shares of ResMed from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. Finally, The Goldman Sachs Group initiated coverage on shares of ResMed in a research note on Thursday, January 16th. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $244.73.

Insiders Place Their Bets

In other news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $245.65, for a total value of $491,300.00. Following the completion of the sale, the director now directly owns 81,218 shares of the company’s stock, valued at $19,951,201.70. This represents a 2.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of the company’s stock in a transaction dated 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 directly owns 455,472 shares of the company’s stock, valued at approximately $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. In the last three months, insiders sold 18,307 shares of company stock valued at $4,403,180. 0.71% of the stock is currently owned by insiders.

About ResMed

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.