Treasurer of the State of North Carolina Has $18.77 Million Stake in ResMed Inc. (NYSE:RMD)

Treasurer of the State of North Carolina lifted its stake in ResMed Inc. (NYSE:RMD) by 3.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 82,076 shares of the medical equipment provider’s stock after purchasing an additional 3,060 shares during the quarter. Treasurer of the State of North Carolina’s holdings in ResMed were worth $18,770,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. Invesco Ltd. increased its stake in shares of ResMed by 32.2% in the 4th quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider’s stock valued at $531,706,000 after buying an additional 566,046 shares during the period. Norges Bank bought a new position in ResMed in the fourth quarter valued at about $118,605,000. Los Angeles Capital Management LLC boosted its holdings in ResMed by 60.0% in the fourth quarter. Los Angeles Capital Management LLC now owns 668,908 shares of the medical equipment provider’s stock valued at $152,973,000 after acquiring an additional 250,746 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in ResMed in the fourth quarter worth about $50,364,000. Finally, Nordea Investment Management AB raised its holdings in ResMed by 92.7% during the 4th quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider’s stock worth $103,214,000 after purchasing an additional 215,561 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

Insider Buying and Selling at ResMed

In related news, insider Kaushik Ghoshal sold 9,113 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the completion of the transaction, the insider now directly owns 9,725 shares of the company’s stock, valued at approximately $2,289,265. This represents a 48.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total value of $484,220.00. Following the transaction, the director now directly owns 77,218 shares in the company, valued at $18,695,249.98. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,013 shares of company stock valued at $11,298,816 in the last 90 days. 0.71% of the stock is currently owned by company insiders.

ResMed Trading Up 1.4 %

NYSE RMD opened at $213.59 on Friday. The stock’s 50-day moving average is $225.64 and its 200-day moving average is $235.44. ResMed Inc. has a one year low of $172.19 and a one year 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. The firm has a market cap of $31.37 billion, a P/E ratio of 25.22, a P/E/G ratio of 1.53 and a beta of 0.75.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share 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%. Sell-side analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend was Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is presently 25.03%.

Analysts Set New Price Targets

RMD has been the subject of several analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research report on Friday, January 31st. The Goldman Sachs Group began coverage on shares of ResMed in a report on Thursday, January 16th. They set a “buy” rating for the company. JPMorgan Chase & Co. increased their price target on ResMed from $270.00 to $286.00 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. Finally, StockNews.com lowered ResMed from a “buy” rating to a “hold” rating in a research note on Wednesday, April 2nd. One research 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 company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $249.73.

ResMed Company 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.