Teacher Retirement System of Texas Sells 4,778 Shares of ResMed Inc. (NYSE:RMD)

Teacher Retirement System of Texas decreased its holdings in shares of ResMed Inc. (NYSE:RMD - Free Report) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 168,083 shares of the medical equipment provider's stock after selling 4,778 shares during the quarter. Teacher Retirement System of Texas owned about 0.11% of ResMed worth $38,439,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Royal London Asset Management Ltd. grew its holdings in ResMed by 5.6% during the 4th quarter. Royal London Asset Management Ltd. now owns 76,812 shares of the medical equipment provider's stock worth $17,566,000 after acquiring an additional 4,094 shares during the period. Harvest Fund Management Co. Ltd boosted its position in shares of ResMed by 67.1% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 1,656 shares of the medical equipment provider's stock worth $379,000 after purchasing an additional 665 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of ResMed by 139.5% during the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 46,584 shares of the medical equipment provider's stock worth $10,653,000 after purchasing an additional 27,132 shares during the period. Generali Asset Management SPA SGR bought a new stake in ResMed in the fourth quarter valued at about $4,196,000. Finally, Axxcess Wealth Management LLC lifted its stake in ResMed by 63.0% in the fourth quarter. Axxcess Wealth Management LLC now owns 9,969 shares of the medical equipment provider's stock valued at $2,280,000 after buying an additional 3,853 shares during the period. 54.98% of the stock is owned by institutional investors.

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Insider Buying and Selling

In other news, insider Kaushik Ghoshal sold 9,745 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the sale, the insider now owns 9,725 shares in the company, valued at $2,327,289.75. This represents a 50.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Peter C. Farrell sold 2,000 shares of the firm's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total transaction of $484,220.00. Following the completion of the transaction, the director now directly owns 77,218 shares of the company's stock, valued at $18,695,249.98. This represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,940 shares of company stock worth $9,164,385. Corporate insiders own 0.71% of the company's stock.

ResMed Stock Down 0.7 %

Shares of RMD traded down $1.51 during mid-day trading on Tuesday, hitting $221.40. 1,060,170 shares of the company's stock were exchanged, compared to its average volume of 958,894. The company has a 50-day simple moving average of $234.76 and a 200 day simple moving average of $238.83. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The company has a market cap of $32.52 billion, a PE ratio of 26.14, a P/E/G ratio of 1.53 and a beta of 0.74. ResMed Inc. has a 52 week low of $172.19 and a 52 week high of $263.05.

ResMed (NYSE:RMD - Get Free Report) last released its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, beating analysts' consensus estimates of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. On average, research analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 13th were issued a dividend of $0.53 per share. The ex-dividend date was Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 0.96%. ResMed's payout ratio is presently 25.03%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. The Goldman Sachs Group started coverage on ResMed in a research note on Thursday, January 16th. They issued a "buy" rating for the company. Morgan Stanley began coverage on shares of ResMed in a research note on Wednesday, March 19th. They issued an "overweight" rating and a $280.00 target price for the company. Piper Sandler increased their target price on shares of ResMed from $252.00 to $260.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. StockNews.com raised shares of ResMed from a "hold" rating to a "buy" rating in a report on Tuesday. Finally, KeyCorp raised their price objective on ResMed from $266.00 to $280.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $246.83.

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.