ResMed Inc. (NYSE:RMD) Stake Lessened by State of Alaska Department of Revenue

State of Alaska Department of Revenue cut its holdings in shares of ResMed Inc. (NYSE:RMD) by 12.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,640 shares of the medical equipment provider’s stock after selling 4,010 shares during the period. State of Alaska Department of Revenue’s holdings in ResMed were worth $5,671,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Atlantic Edge Private Wealth Management LLC acquired a new stake in ResMed during the fourth quarter valued at approximately $27,000. Planned Solutions Inc. acquired a new stake in ResMed during the fourth quarter valued at approximately $34,000. MV Capital Management Inc. lifted its stake in ResMed by 39.0% during the fourth quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock valued at $37,000 after purchasing an additional 60 shares during the last quarter. Riverview Trust Co acquired a new stake in ResMed during the first quarter valued at approximately $42,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in ResMed during the fourth quarter valued at approximately $45,000. 54.98% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at ResMed

In other news, Director Karen Drexler sold 425 shares of the stock in a transaction on Monday, April 29th. The shares were sold at an average price of $214.92, for a total transaction of $91,341.00. Following the transaction, the director now owns 8,446 shares in the company, valued at approximately $1,815,214.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction on Tuesday, May 7th. The shares were 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 owns 440,752 shares in the company, valued at approximately $95,422,808. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Karen Drexler sold 425 shares of the firm’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $214.92, for a total transaction of $91,341.00. Following the completion of the transaction, the director now owns 8,446 shares in the company, valued at $1,815,214.32. The disclosure for this sale can be found here. Insiders have sold a total of 31,151 shares of company stock worth $6,666,409 in the last 90 days. 1.21% of the stock is owned by insiders.

ResMed Stock Up 0.0 %

RMD stock opened at $189.38 on Thursday. ResMed Inc. has a 12-month low of $132.24 and a 12-month high of $229.97. The company has a quick ratio of 1.97, a current ratio of 3.04 and a debt-to-equity ratio of 0.22. The company has a market cap of $27.82 billion, a price-to-earnings ratio of 29.09, a PEG ratio of 1.64 and a beta of 0.66. The company has a 50 day moving average of $208.82 and a two-hundred day moving average of $191.63.

ResMed (NYSE:RMD) last released its earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.91 by $0.22. ResMed had a net margin of 20.91% and a return on equity of 24.43%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the firm earned $1.68 EPS. The company’s revenue was up 7.2% compared to the same quarter last year. On average, equities analysts anticipate that ResMed Inc. will post 7.7 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 9th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a $1.92 annualized dividend and a dividend yield of 1.01%. ResMed’s dividend payout ratio (DPR) is 29.49%.

Analyst Upgrades and Downgrades

Several analysts recently commented on RMD shares. KeyCorp increased their target price on shares of ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Citigroup downgraded shares of ResMed from a “buy” rating to a “neutral” rating in a research report on Monday, June 24th. Mizuho restated a “buy” rating and issued a $215.00 price target on shares of ResMed in a research report on Wednesday, March 27th. Royal Bank of Canada upped their price target on shares of ResMed from $187.00 to $200.00 and gave the company a “sector perform” rating in a research report on Friday, April 26th. Finally, Oppenheimer downgraded shares of ResMed from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, ResMed currently has a consensus rating of “Moderate Buy” and a consensus price target of $202.80.

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.