State of Alaska Department of Revenue Has $5.67 Million Stake in ResMed Inc. (NYSE:RMD)

State of Alaska Department of Revenue decreased its holdings in shares of ResMed Inc. (NYSE:RMD) by 12.3% in the 1st quarter, Holdings Channel reports. The institutional investor 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.

Several other institutional investors also recently modified their holdings of RMD. MV Capital Management Inc. lifted its stake in ResMed by 39.0% in the fourth quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock valued at $37,000 after buying an additional 60 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in ResMed by 7.6% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 902 shares of the medical equipment provider’s stock valued at $155,000 after buying an additional 64 shares in the last quarter. Gulf International Bank UK Ltd lifted its stake in ResMed by 0.5% in the first quarter. Gulf International Bank UK Ltd now owns 12,614 shares of the medical equipment provider’s stock valued at $2,497,000 after buying an additional 66 shares in the last quarter. Czech National Bank lifted its stake in ResMed by 0.3% in the fourth quarter. Czech National Bank now owns 25,762 shares of the medical equipment provider’s stock valued at $4,432,000 after buying an additional 81 shares in the last quarter. Finally, Alliance Wealth Advisors LLC UT lifted its stake in ResMed by 5.9% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 1,567 shares of the medical equipment provider’s stock valued at $270,000 after buying an additional 88 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Stock Performance

NYSE RMD opened at $189.38 on Thursday. 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 firm’s fifty day moving average price is $208.82 and its two-hundred day moving average price is $191.63. ResMed Inc. has a 1 year low of $132.24 and a 1 year high of $229.97. The firm has a market capitalization of $27.82 billion, a P/E ratio of 29.09, a price-to-earnings-growth ratio of 1.64 and a beta of 0.66.

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

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 9th were issued a $0.48 dividend. The ex-dividend date was Wednesday, May 8th. This represents a $1.92 annualized dividend and a dividend yield of 1.01%. ResMed’s dividend payout ratio is currently 29.49%.

Insider Buying and Selling at ResMed

In other ResMed news, Director Karen Drexler sold 425 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $214.92, for a total value of $91,341.00. Following the transaction, the director now directly owns 8,446 shares in the company, valued at $1,815,214.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other ResMed news, Director Karen Drexler sold 425 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $214.92, for a total value of $91,341.00. Following the transaction, the director now directly owns 8,446 shares in the company, valued at $1,815,214.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael J. Farrell sold 14,683 shares of the company’s 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 completion of the transaction, the chief executive officer now owns 440,752 shares in the company, valued at $95,422,808. 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 over the last ninety days. Insiders own 1.21% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on RMD. Mizuho reaffirmed a “buy” rating and issued a $215.00 price target on shares of ResMed in a research note on Wednesday, March 27th. KeyCorp boosted their price objective on shares of ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Citigroup lowered shares of ResMed from a “buy” rating to a “neutral” rating in a research report on Monday, June 24th. Royal Bank of Canada boosted their price objective on shares of ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a research report on Friday, April 26th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $236.00 price objective on shares of ResMed in a research report on Monday, June 24th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.