Public Employees Retirement Association of Colorado Cuts Stock Holdings in ResMed Inc. (NYSE:RMD)

Public Employees Retirement Association of Colorado lessened its stake in ResMed Inc. (NYSE:RMD) by 5.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,734 shares of the medical equipment provider’s stock after selling 960 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in ResMed were worth $3,116,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its stake in ResMed by 2.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 416,761 shares of the medical equipment provider’s stock worth $82,532,000 after purchasing an additional 11,908 shares during the last quarter. 1832 Asset Management L.P. acquired a new stake in ResMed during the 1st quarter worth $6,782,000. JT Stratford LLC acquired a new stake in ResMed during the 1st quarter worth $1,015,000. EntryPoint Capital LLC lifted its stake in ResMed by 42.9% in the 1st quarter. EntryPoint Capital LLC now owns 626 shares of the medical equipment provider’s stock worth $124,000 after purchasing an additional 188 shares in the last quarter. Finally, Pitcairn Co. acquired a new position in shares of ResMed during the 1st quarter worth approximately $219,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Price Performance

Shares of NYSE RMD opened at $207.32 on Tuesday. The company has a current ratio of 3.04, a quick ratio of 1.97 and a debt-to-equity ratio of 0.22. The stock has a market cap of $30.46 billion, a P/E ratio of 32.03, a P/E/G ratio of 1.70 and a beta of 0.66. The stock has a 50 day moving average of $203.93 and a two-hundred day moving average of $195.45. ResMed Inc. has a twelve month low of $132.24 and a twelve month high of $229.97.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RMD. Royal Bank of Canada lifted their price objective on ResMed from $200.00 to $204.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 23rd. KeyCorp increased their price target on ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Needham & Company LLC restated a “buy” rating and issued a $236.00 price objective on shares of ResMed in a report on Monday, June 24th. Citigroup cut shares of ResMed from a “buy” rating to a “neutral” rating in a research report on Monday, June 24th. Finally, Oppenheimer cut ResMed from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, ResMed has an average rating of “Moderate Buy” and an average price target of $203.20.

Insider Transactions at ResMed

In related news, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 440,752 shares in the company, valued at approximately $95,422,808. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Witte Jan De sold 360 shares of ResMed stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $218.29, for a total value of $78,584.40. Following the sale, the director now owns 7,519 shares of the company’s stock, valued at $1,641,322.51. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $216.50, for a total transaction of $3,178,869.50. Following the transaction, the chief executive officer now directly owns 440,752 shares of the company’s stock, valued at $95,422,808. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,409 shares of company stock worth $9,602,796. Company insiders own 1.21% of the company’s stock.

About ResMed

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.