State of Alaska Department of Revenue Decreases Holdings in ResMed Inc. (NYSE:RMD)

State of Alaska Department of Revenue reduced its holdings in ResMed Inc. (NYSE:RMD - Free Report) by 19.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,739 shares of the medical equipment provider's stock after selling 4,011 shares during the period. State of Alaska Department of Revenue's holdings in ResMed were worth $3,828,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Geode Capital Management LLC increased its position in shares of ResMed by 10.9% during the third quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider's stock worth $939,114,000 after acquiring an additional 380,383 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in shares of ResMed by 726.3% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,801 shares of the medical equipment provider's stock worth $69,281,000 after acquiring an additional 249,454 shares in the last quarter. Nordea Investment Management AB increased its position in shares of ResMed by 92.7% during the fourth quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider's stock worth $103,214,000 after acquiring an additional 215,561 shares in the last quarter. State Street Corp increased its position in shares of ResMed by 1.9% during the third quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider's stock worth $1,528,590,000 after acquiring an additional 116,918 shares in the last quarter. Finally, Tidal Investments LLC increased its position in shares of ResMed by 738.4% during the third quarter. Tidal Investments LLC now owns 104,938 shares of the medical equipment provider's stock worth $25,617,000 after acquiring an additional 92,422 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Price Performance

Shares of NYSE:RMD traded down $1.03 during midday trading on Wednesday, hitting $236.40. The stock had a trading volume of 674,116 shares, compared to its average volume of 986,927. The company's 50-day moving average price is $238.87 and its 200-day moving average price is $238.30. The company has a market capitalization of $34.72 billion, a P/E ratio of 27.91, a price-to-earnings-growth ratio of 1.57 and a beta of 0.70. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. ResMed Inc. has a fifty-two week low of $170.56 and a fifty-two week high of $263.05.

ResMed (NYSE:RMD - Get Free Report) last issued its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. As a group, equities research analysts predict that ResMed Inc. will post 9.44 EPS for the current fiscal year.

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed's dividend payout ratio is 25.03%.

Insider Buying and Selling

In other ResMed news, insider Justin Leong sold 6,160 shares of the company's stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $243.09, for a total value of $1,497,434.40. Following the completion of the transaction, the insider now directly owns 21,718 shares in the company, valued at approximately $5,279,428.62. This represents a 22.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael J. Farrell sold 8,009 shares of the company's stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the completion of the transaction, the chief executive officer now owns 455,472 shares of the company's stock, valued at approximately $107,842,105.44. This trade represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,307 shares of company stock worth $4,403,180 in the last three months. 0.71% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RMD. JPMorgan Chase & Co. increased their price objective on shares of ResMed from $270.00 to $286.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Robert W. Baird raised their target price on shares of ResMed from $280.00 to $283.00 and gave the company an "outperform" rating in a research report on Friday, October 25th. Needham & Company LLC reaffirmed a "hold" rating on shares of ResMed in a research report on Friday, January 31st. Royal Bank of Canada raised their target price on shares of ResMed from $224.00 to $232.00 and gave the company a "sector perform" rating in a research report on Friday, October 25th. Finally, KeyCorp raised their target price on shares of ResMed from $266.00 to $280.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $244.73.

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.