New York State Common Retirement Fund Acquires 1,600 Shares of ResMed Inc. (RMD)

New York State Common Retirement Fund grew its holdings in shares of ResMed Inc. (NYSE:RMD) by 0.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 430,328 shares of the medical equipment provider’s stock after acquiring an additional 1,600 shares during the period. New York State Common Retirement Fund owned about 0.30% of ResMed worth $33,118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. BlackRock Inc. grew its position in shares of ResMed by 6.8% during the 2nd quarter. BlackRock Inc. now owns 14,240,077 shares of the medical equipment provider’s stock valued at $1,108,877,000 after acquiring an additional 904,939 shares during the period. Vanguard Group Inc. grew its position in shares of ResMed by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 11,914,671 shares of the medical equipment provider’s stock valued at $927,797,000 after acquiring an additional 378,964 shares during the period. FMR LLC grew its position in shares of ResMed by 38.2% during the 2nd quarter. FMR LLC now owns 5,542,582 shares of the medical equipment provider’s stock valued at $431,601,000 after acquiring an additional 1,531,772 shares during the period. Baillie Gifford & Co. grew its position in shares of ResMed by 0.9% during the 3rd quarter. Baillie Gifford & Co. now owns 4,913,626 shares of the medical equipment provider’s stock valued at $378,154,000 after acquiring an additional 44,340 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of ResMed by 1.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,266,663 shares of the medical equipment provider’s stock valued at $176,505,000 after acquiring an additional 25,925 shares during the period. 62.02% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts have recently issued reports on the stock. Barclays boosted their price objective on shares of ResMed from $68.00 to $70.00 and gave the company an “underweight” rating in a research report on Friday, October 27th. Jefferies Group restated a “sell” rating and set a $56.00 target price on shares of ResMed in a research note on Thursday, October 12th. BMO Capital Markets lifted their target price on shares of ResMed from $70.00 to $74.00 and gave the company a “market perform” rating in a research note on Friday, October 27th. Zacks Investment Research cut shares of ResMed from a “buy” rating to a “sell” rating in a research note on Tuesday, October 24th. Finally, Needham & Company LLC restated a “sell” rating on shares of ResMed in a research note on Friday, October 27th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. ResMed has an average rating of “Hold” and an average price target of $67.57.

In other ResMed news, CFO Brett Sandercock sold 1,250 shares of the business’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $85.36, for a total value of $106,700.00. Following the sale, the chief financial officer now owns 79,572 shares in the company, valued at approximately $6,792,265.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Peter C. Farrell sold 118,392 shares of the business’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $82.70, for a total transaction of $9,791,018.40. Following the completion of the sale, the director now owns 306,615 shares in the company, valued at approximately $25,357,060.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 184,693 shares of company stock worth $15,149,955. 1.77% of the stock is owned by corporate insiders.

ResMed Inc. (NYSE:RMD) traded up $0.60 on Friday, hitting $86.37. 546,820 shares of the company were exchanged, compared to its average volume of 552,324. The company has a debt-to-equity ratio of 0.50, a quick ratio of 3.86 and a current ratio of 4.72. ResMed Inc. has a 52 week low of $60.13 and a 52 week high of $87.81. The stock has a market cap of $12,256.25, a PE ratio of 30.09, a price-to-earnings-growth ratio of 1.92 and a beta of 0.78.

ResMed (NYSE:RMD) last released its earnings results on Thursday, October 26th. The medical equipment provider reported $0.66 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.66. ResMed had a net margin of 16.58% and a return on equity of 21.53%. The company had revenue of $523.66 million for the quarter, compared to analysts’ expectations of $506.08 million. During the same quarter in the previous year, the company earned $0.62 EPS. ResMed’s revenue for the quarter was up 12.5% on a year-over-year basis. equities research analysts anticipate that ResMed Inc. will post 3 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Thursday, November 9th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date is Wednesday, November 8th. ResMed’s dividend payout ratio (DPR) is 56.68%.

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About ResMed

ResMed Inc is a holding company. The Company is engaged in the development, manufacturing, distribution and marketing of medical devices and cloud-based software applications that diagnose, treat and manage respiratory disorders, including sleep disordered breathing (SDB), chronic obstructive pulmonary disease (COPD), neuromuscular disease and other diseases.

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Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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