ResMed Inc. (NYSE:RMD) Shares Sold by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. decreased its position in ResMed Inc. (NYSE:RMD) by 0.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 38,625 shares of the medical equipment provider’s stock after selling 338 shares during the period. Rockefeller Capital Management L.P.’s holdings in ResMed were worth $9,420,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Cetera Advisors LLC acquired a new position in shares of ResMed during the 1st quarter worth approximately $257,000. GAMMA Investing LLC grew its position in shares of ResMed by 56.1% in the second quarter. GAMMA Investing LLC now owns 1,324 shares of the medical equipment provider’s stock valued at $253,000 after purchasing an additional 476 shares during the period. CWM LLC increased its stake in shares of ResMed by 10.1% during the second quarter. CWM LLC now owns 5,707 shares of the medical equipment provider’s stock worth $1,092,000 after purchasing an additional 524 shares in the last quarter. Simplicity Wealth LLC lifted its stake in ResMed by 3.3% in the 2nd quarter. Simplicity Wealth LLC now owns 3,606 shares of the medical equipment provider’s stock valued at $690,000 after buying an additional 115 shares in the last quarter. Finally, BDF Gestion purchased a new stake in ResMed during the 2nd quarter worth approximately $2,550,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Activity at ResMed

In related news, insider Justin Leong sold 6,160 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $243.09, for a total value of $1,497,434.40. Following the sale, the insider now owns 21,718 shares in the company, valued at approximately $5,279,428.62. The trade was a 22.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael J. Farrell sold 14,683 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $248.38, for a total value of $3,646,963.54. Following the transaction, the chief executive officer now owns 464,169 shares of the company’s stock, valued at $115,290,296.22. This trade represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,408 shares of company stock worth $15,918,332. Insiders own 0.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. KeyCorp boosted their price target on ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Baird R W raised shares of ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. Wolfe Research restated an “underperform” rating and set a $180.00 price target on shares of ResMed in a research report on Wednesday, September 18th. Bank of America raised their target price on shares of ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, Robert W. Baird upped their price target on ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, ResMed presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.70.

ResMed Price Performance

RMD stock opened at $246.91 on Wednesday. ResMed Inc. has a 52-week low of $159.60 and a 52-week high of $260.49. The business has a fifty day moving average of $242.21 and a two-hundred day moving average of $226.07. The stock has a market cap of $36.25 billion, a price-to-earnings ratio of 32.70, a price-to-earnings-growth ratio of 1.78 and a beta of 0.68. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the prior year, the company posted $1.64 earnings per share. ResMed’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, research analysts anticipate that ResMed Inc. will post 9.28 earnings per share for the current year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be issued a $0.53 dividend. The ex-dividend date is Thursday, November 7th. This represents a $2.12 annualized dividend and a yield of 0.86%. ResMed’s dividend payout ratio (DPR) is presently 28.08%.

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.