Texas Permanent School Fund Sells 1,104 Shares of ResMed Inc. (NYSE:RMD)

Texas Permanent School Fund lessened its position in shares of ResMed Inc. (NYSE:RMDGet Rating) by 5.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,968 shares of the medical equipment provider’s stock after selling 1,104 shares during the period. Texas Permanent School Fund’s holdings in ResMed were worth $4,600,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Comprehensive Financial Consultants Institutional Inc. bought a new stake in shares of ResMed during the fourth quarter worth approximately $25,000. GHP Investment Advisors Inc. bought a new stake in shares of ResMed during the first quarter worth approximately $33,000. Capital Advisors Ltd. LLC bought a new stake in shares of ResMed during the fourth quarter worth approximately $39,000. Covestor Ltd bought a new stake in shares of ResMed during the fourth quarter worth approximately $41,000. Finally, Intelligent Financial Strategies bought a new stake in shares of ResMed during the fourth quarter worth approximately $52,000. Institutional investors own 65.24% of the company’s stock.

Wall Street Analyst Weigh In

RMD has been the subject of a number of research analyst reports. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a report on Monday, August 1st. Royal Bank of Canada upgraded shares of ResMed from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $233.00 to $244.00 in a research report on Monday, June 6th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, ResMed presently has an average rating of “Moderate Buy” and a consensus price target of $264.80.

ResMed Stock Up 1.3 %

NYSE RMD opened at $241.80 on Friday. ResMed Inc. has a 1-year low of $189.40 and a 1-year high of $301.34. The company has a market cap of $35.37 billion, a price-to-earnings ratio of 45.54, a PEG ratio of 2.31 and a beta of 0.47. The company has a current ratio of 2.55, a quick ratio of 1.56 and a debt-to-equity ratio of 0.20. The company has a 50 day moving average of $217.82 and a 200-day moving average of $226.12.

Insider Buying and Selling at ResMed

In other ResMed news, CEO Michael J. Farrell sold 5,675 shares of the business’s stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $196.61, for a total transaction of $1,115,761.75. Following the completion of the transaction, the chief executive officer now directly owns 405,260 shares in the company, valued at $79,678,168.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other ResMed news, insider David Pendarvis sold 1,545 shares of the business’s stock in a transaction that occurred on Friday, June 3rd. The shares were sold at an average price of $209.44, for a total transaction of $323,584.80. Following the completion of the transaction, the insider now directly owns 108,376 shares in the company, valued at $22,698,269.44. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael J. Farrell sold 5,675 shares of the business’s stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $196.61, for a total transaction of $1,115,761.75. Following the transaction, the chief executive officer now owns 405,260 shares of the company’s stock, valued at $79,678,168.60. The disclosure for this sale can be found here. Insiders sold a total of 29,160 shares of company stock worth $6,327,758 over the last three months. Corporate insiders own 1.42% of the company’s stock.

About ResMed

(Get Rating)

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 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.

See Also

Want to see what other hedge funds are holding RMD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ResMed Inc. (NYSE:RMDGet Rating).

Institutional Ownership by Quarter for ResMed (NYSE:RMD)

Receive News & Ratings for ResMed Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ResMed and related companies with MarketBeat.com's FREE daily email newsletter.