Kentucky Retirement Systems Insurance Trust Fund Takes Position in ResMed Inc. (NYSE:RMD)

Kentucky Retirement Systems Insurance Trust Fund acquired a new position in ResMed Inc. (NYSE:RMD - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,228 shares of the medical equipment provider's stock, valued at approximately $946,000.

Other institutional investors have also added to or reduced their stakes in the company. Global X Japan Co. Ltd. increased its stake in shares of ResMed by 121.4% during the first quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider's stock valued at $28,000 after purchasing an additional 68 shares in the last quarter. Colonial Trust Co SC grew its stake in shares of ResMed by 6,250.0% in the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider's stock worth $29,000 after acquiring an additional 125 shares during the period. Optiver Holding B.V. purchased a new stake in ResMed during the 4th quarter valued at $33,000. Itau Unibanco Holding S.A. lifted its holdings in ResMed by 1,000.0% in the fourth quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider's stock valued at $38,000 after acquiring an additional 150 shares during the period. Finally, OFI Invest Asset Management bought a new position in shares of ResMed in the 4th quarter worth approximately $39,000. 54.98% of the stock is currently owned by institutional investors.

Insider Transactions at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $242.25, for a total transaction of $484,500.00. Following the completion of the sale, the director now owns 71,218 shares in the company, valued at $17,252,560.50. This trade represents a 2.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $251.21, for a total transaction of $2,011,940.89. Following the transaction, the chief executive officer now directly owns 455,503 shares in the company, valued at approximately $114,426,908.63. This trade represents a 1.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,132 shares of company stock worth $7,075,837. 0.71% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RMD. Wall Street Zen lowered shares of ResMed from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Citigroup upgraded ResMed from a "neutral" rating to a "buy" rating in a research note on Wednesday, March 5th. JPMorgan Chase & Co. boosted their price target on ResMed from $286.00 to $290.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Royal Bank Of Canada increased their price objective on shares of ResMed from $247.00 to $255.00 and gave the company a "sector perform" rating in a report on Thursday, April 24th. Finally, Mizuho set a $265.00 target price on shares of ResMed in a report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, ResMed has a consensus rating of "Moderate Buy" and a consensus target price of $259.33.

ResMed Trading Up 0.6%

RMD traded up $1.54 on Tuesday, hitting $256.06. The company had a trading volume of 992,844 shares, compared to its average volume of 996,626. The business's fifty day simple moving average is $241.51 and its 200 day simple moving average is $234.94. The company has a quick ratio of 2.49, a current ratio of 3.41 and a debt-to-equity ratio of 0.12. ResMed Inc. has a 12-month low of $179.42 and a 12-month high of $263.05. The company has a market cap of $37.55 billion, a PE ratio of 28.74, a PEG ratio of 1.75 and a beta of 0.78.

ResMed (NYSE:RMD - Get Free Report) last released its earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.01. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. ResMed had a return on equity of 25.67% and a net margin of 26.15%. The company's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.13 EPS. Equities research analysts expect 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, June 12th. Stockholders of record on Thursday, May 8th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend was Thursday, May 8th. ResMed's dividend payout ratio is currently 23.79%.

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.