State of Tennessee Department of Treasury Has $12.22 Million Stock Holdings in ResMed Inc. (NYSE:RMD)

State of Tennessee Department of Treasury lessened its position in ResMed Inc. (NYSE:RMD - Free Report) by 5.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 53,447 shares of the medical equipment provider's stock after selling 2,823 shares during the quarter. State of Tennessee Department of Treasury's holdings in ResMed were worth $12,223,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Tower Research Capital LLC TRC raised its stake in ResMed by 147.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,445 shares of the medical equipment provider's stock valued at $1,931,000 after buying an additional 5,032 shares during the last quarter. MML Investors Services LLC lifted its holdings in shares of ResMed by 31.9% in the fourth quarter. MML Investors Services LLC now owns 11,468 shares of the medical equipment provider's stock worth $2,623,000 after buying an additional 2,771 shares in the last quarter. MetLife Investment Management LLC lifted its position in shares of ResMed by 1.5% in the fourth quarter. MetLife Investment Management LLC now owns 40,578 shares of the medical equipment provider's stock worth $9,280,000 after buying an additional 593 shares in the last quarter. Norinchukin Bank The boosted its position in shares of ResMed by 10.6% during the 4th quarter. Norinchukin Bank The now owns 107,915 shares of the medical equipment provider's stock valued at $24,679,000 after acquiring an additional 10,313 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of ResMed by 1,142.2% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 77,076 shares of the medical equipment provider's stock worth $17,627,000 after buying an additional 70,871 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company's stock.

Insider Activity

In other news, CEO Michael J. Farrell sold 8,009 shares of the business's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $236.77, for a total value of $1,896,290.93. Following the completion of the sale, the chief executive officer now directly owns 455,472 shares in the company, valued at approximately $107,842,105.44. The trade was a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated 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 sale, the director now owns 77,218 shares of the company's stock, valued at approximately $18,695,249.98. The trade was a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,013 shares of company stock worth $11,298,816 over the last 90 days. 0.71% of the stock is currently owned by company insiders.

ResMed Trading Down 0.8 %

Shares of NYSE RMD traded down $1.82 during midday trading on Monday, hitting $234.06. The stock had a trading volume of 964,550 shares, compared to its average volume of 1,017,721. The company has a fifty day moving average price of $221.92 and a 200 day moving average price of $234.00. ResMed Inc. has a 1-year low of $179.42 and a 1-year high of $263.05. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $34.38 billion, a price-to-earnings ratio of 27.63, a PEG ratio of 1.53 and a beta of 0.75.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.01. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. ResMed had a net margin of 25.34% and a return on equity of 26.17%. The firm's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the business earned $2.13 EPS. On average, analysts predict that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Thursday, May 8th. ResMed's dividend payout ratio is currently 23.79%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RMD. UBS Group decreased their price objective on shares of ResMed from $290.00 to $285.00 and set a "buy" rating for the company in a report on Thursday. Needham & Company LLC restated a "hold" rating on shares of ResMed in a report on Friday, January 31st. Mizuho set a $265.00 target price on ResMed in a report on Wednesday, April 16th. Stifel Nicolaus lowered their price objective on ResMed from $250.00 to $240.00 and set a "hold" rating on the stock in a research report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. increased their price objective on shares of ResMed from $286.00 to $290.00 and gave the company an "overweight" rating in a report on Thursday. One analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $258.83.

ResMed Profile

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.