Treasurer of the State of North Carolina Raises Holdings in ResMed Inc. (NYSE:RMD)

Treasurer of the State of North Carolina boosted its position in shares of ResMed Inc. (NYSE:RMD - Free Report) by 3.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 82,076 shares of the medical equipment provider's stock after buying an additional 3,060 shares during the period. Treasurer of the State of North Carolina owned approximately 0.06% of ResMed worth $18,770,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. OFI Invest Asset Management bought a new stake in ResMed during the fourth quarter worth approximately $39,000. BankPlus Trust Department purchased a new stake in ResMed during the 4th quarter valued at $44,000. Rosenberg Matthew Hamilton bought a new stake in ResMed in the fourth quarter worth $54,000. SBI Securities Co. Ltd. purchased a new position in ResMed during the fourth quarter worth $67,000. Finally, Kentucky Trust Co bought a new position in ResMed during the fourth quarter valued at $82,000. Hedge funds and other institutional investors own 54.98% of the company's stock.

Insider Buying and Selling at ResMed

In other ResMed news, insider Kaushik Ghoshal sold 9,113 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $235.40, for a total value of $2,145,200.20. Following the sale, the insider now directly owns 9,725 shares of the company's stock, valued at approximately $2,289,265. This trade represents a 48.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 455,472 shares in the company, valued at $107,842,105.44. This trade represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,013 shares of company stock worth $11,298,816. Insiders own 0.71% of the company's stock.

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Wall Street Analyst Weigh In

A number of equities analysts recently commented on RMD shares. Piper Sandler lifted their price target on shares of ResMed from $252.00 to $260.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. KeyCorp upped their target price on ResMed from $266.00 to $280.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. UBS Group raised ResMed from a "hold" rating to a "strong-buy" rating in a research note on Friday, January 31st. The Goldman Sachs Group started coverage on ResMed in a research report on Thursday, January 16th. They issued a "buy" rating on the stock. Finally, Citigroup upgraded ResMed from a "neutral" rating to a "buy" rating in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $249.73.

ResMed Stock Down 0.3 %

ResMed stock traded down $0.55 during trading hours on Tuesday, reaching $213.98. The stock had a trading volume of 1,769,512 shares, compared to its average volume of 1,031,741. The company has a market cap of $31.43 billion, a price-to-earnings ratio of 25.26, a PEG ratio of 1.53 and a beta of 0.75. The business's 50 day moving average price is $225.09 and its 200-day moving average price is $235.22. ResMed Inc. has a 52 week low of $172.19 and a 52 week high of $263.05. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. Sell-side analysts anticipate that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 13th were given a $0.53 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a yield of 0.99%. ResMed's dividend payout ratio is currently 25.03%.

About ResMed

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.