ResMed Inc. (NYSE:RMD) Shares Sold by Caprock Group LLC

Caprock Group LLC lowered its stake in ResMed Inc. (NYSE:RMD) by 1.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,640 shares of the medical equipment provider’s stock after selling 92 shares during the period. Caprock Group LLC’s holdings in ResMed were worth $1,290,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Peak Financial Advisors LLC purchased a new position in ResMed during the 4th quarter worth $2,972,000. Principal Financial Group Inc. increased its stake in shares of ResMed by 2.9% during the third quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider’s stock worth $45,596,000 after acquiring an additional 5,284 shares during the period. Retireful LLC purchased a new position in ResMed during the third quarter worth about $742,000. Asset Management One Co. Ltd. lifted its position in ResMed by 5.1% in the third quarter. Asset Management One Co. Ltd. now owns 58,860 shares of the medical equipment provider’s stock valued at $14,369,000 after purchasing an additional 2,878 shares during the period. Finally, Empowered Funds LLC boosted its holdings in ResMed by 284.3% in the 3rd quarter. Empowered Funds LLC now owns 8,208 shares of the medical equipment provider’s stock valued at $2,004,000 after purchasing an additional 6,072 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Insider Activity

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total transaction of $491,300.00. Following the completion of the sale, the director now directly owns 81,218 shares in the company, valued at $19,951,201.70. The trade was a 2.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Justin Leong sold 6,160 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the completion of the transaction, the insider now directly owns 21,718 shares in the company, valued at approximately $5,279,428.62. This represents a 22.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,030 shares of company stock valued at $2,702,687 in the last 90 days. 0.71% of the stock is currently owned by insiders.

ResMed Price Performance

ResMed stock opened at $236.66 on Monday. The stock has a market capitalization of $34.74 billion, a P/E ratio of 31.35, a P/E/G ratio of 1.83 and a beta of 0.70. ResMed Inc. has a 12-month low of $170.56 and a 12-month high of $263.05. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. The firm’s 50-day moving average is $240.17 and its two-hundred day moving average is $236.41.

ResMed (NYSE:RMD) last released its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 23.15% and a return on equity of 25.53%. Equities analysts predict that ResMed Inc. will post 9.35 earnings per share for the current year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Thursday, February 13th. ResMed’s payout ratio is 28.08%.

Analysts Set New Price Targets

Several analysts have recently commented on RMD shares. KeyCorp raised their price target on ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a report on Friday. Royal Bank of Canada boosted their target price on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Robert W. Baird increased their price target on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a report on Friday. Finally, The Goldman Sachs Group began coverage on ResMed in a report on Thursday, January 16th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $244.73.

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.