Kentucky Retirement Systems Insurance Trust Fund Purchases Shares of 4,228 ResMed Inc. (NYSE:RMD)

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

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Howard Capital Management Inc. grew its holdings in ResMed by 5.3% during the fourth quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider's stock worth $206,000 after acquiring an additional 45 shares during the period. CVA Family Office LLC grew its stake in shares of ResMed by 29.8% during the 1st quarter. CVA Family Office LLC now owns 209 shares of the medical equipment provider's stock worth $47,000 after purchasing an additional 48 shares during the period. Central Pacific Bank Trust Division increased its holdings in shares of ResMed by 9.7% in the 1st quarter. Central Pacific Bank Trust Division now owns 565 shares of the medical equipment provider's stock valued at $126,000 after purchasing an additional 50 shares in the last quarter. Faithward Advisors LLC lifted its stake in shares of ResMed by 4.3% in the fourth quarter. Faithward Advisors LLC now owns 1,279 shares of the medical equipment provider's stock valued at $292,000 after purchasing an additional 53 shares during the period. Finally, Portside Wealth Group LLC lifted its stake in shares of ResMed by 3.8% in the first quarter. Portside Wealth Group LLC now owns 1,457 shares of the medical equipment provider's stock valued at $326,000 after purchasing an additional 54 shares during the period. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Stock Down 0.5%

NYSE RMD traded down $1.19 during mid-day trading on Friday, reaching $255.02. 1,498,338 shares of the company's stock traded hands, compared to its average volume of 981,742. The company has a current ratio of 3.41, a quick ratio of 2.49 and a debt-to-equity ratio of 0.12. ResMed Inc. has a 1-year low of $186.22 and a 1-year high of $263.05. The company has a fifty day simple moving average of $244.15 and a 200-day simple moving average of $235.33. The company has a market cap of $37.39 billion, a price-to-earnings ratio of 28.62, a P/E/G ratio of 1.78 and a beta of 0.78.

ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, topping analysts' consensus estimates of $2.36 by $0.01. The business had revenue of $1.29 billion during 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 period last year, the firm earned $2.13 earnings per share. As a group, equities research analysts expect that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Thursday, May 8th were issued a $0.53 dividend. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $2.12 dividend on an annualized basis and a yield of 0.83%. ResMed's dividend payout ratio is currently 23.79%.

Insider Buying and Selling at ResMed

In related news, Director Witte Jan De sold 2,000 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $243.47, for a total value of $486,940.00. Following the completion of the transaction, the director now owns 5,806 shares in the company, valued at $1,413,586.82. This trade represents a 25.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $209.85, for a total transaction of $1,680,688.65. Following the transaction, the chief executive officer now owns 455,472 shares in the company, valued at approximately $95,580,799.20. The trade was a 1.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,132 shares of company stock worth $7,075,837 over the last ninety days. Company insiders own 0.71% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Morgan Stanley set a $286.00 price target on ResMed and gave the stock an "overweight" rating in a research note on Tuesday, May 20th. Citigroup raised ResMed from a "neutral" rating to a "buy" rating in a report on Wednesday, March 5th. UBS Group decreased their price objective on shares of ResMed from $290.00 to $285.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Piper Sandler dropped their target price on shares of ResMed from $260.00 to $248.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Finally, Mizuho set a $265.00 target price on shares of ResMed in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, ResMed presently has an average rating of "Moderate Buy" and an average price target of $259.33.

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.