ResMed Inc. $RMD Shares Sold by Chicago Capital LLC

Chicago Capital LLC cut its holdings in ResMed Inc. (NYSE:RMD) by 14.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,481 shares of the medical equipment provider’s stock after selling 2,541 shares during the quarter. Chicago Capital LLC’s holdings in ResMed were worth $4,237,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Entropy Technologies LP grew its stake in ResMed by 188.7% during the second quarter. Entropy Technologies LP now owns 16,384 shares of the medical equipment provider’s stock worth $4,227,000 after buying an additional 10,708 shares during the period. Quantbot Technologies LP increased its holdings in ResMed by 244.8% in the 2nd quarter. Quantbot Technologies LP now owns 36,355 shares of the medical equipment provider’s stock valued at $9,380,000 after purchasing an additional 25,810 shares in the last quarter. American Century Companies Inc. raised its position in ResMed by 0.7% in the second quarter. American Century Companies Inc. now owns 175,901 shares of the medical equipment provider’s stock valued at $45,382,000 after purchasing an additional 1,183 shares during the period. Norges Bank acquired a new position in shares of ResMed during the second quarter worth about $306,452,000. Finally, Inspire Investing LLC boosted its position in shares of ResMed by 29.3% in the first quarter. Inspire Investing LLC now owns 28,578 shares of the medical equipment provider’s stock worth $6,397,000 after buying an additional 6,472 shares during the period. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ResMed

In related news, Director Witte Jan De sold 2,055 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $255.00, for a total value of $524,025.00. Following the completion of the sale, the director owned 4,261 shares of the company’s stock, valued at $1,086,555. This represents a 32.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael J. Farrell sold 8,011 shares of the stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $249.75, for a total transaction of $2,000,747.25. Following the completion of the transaction, the chief executive officer owned 467,866 shares of the company’s stock, valued at $116,849,533.50. This represents a 1.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 14,603 shares of company stock valued at $3,665,772 in the last quarter. Corporate insiders own 0.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Stifel Nicolaus reduced their price target on ResMed from $270.00 to $260.00 and set a “hold” rating on the stock in a research report on Thursday, December 18th. Citigroup began coverage on shares of ResMed in a research report on Thursday, September 18th. They set a “buy” rating and a $330.00 target price on the stock. Mizuho decreased their target price on shares of ResMed from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, October 31st. Royal Bank Of Canada lifted their price target on shares of ResMed from $300.00 to $303.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. Finally, Wells Fargo & Company began coverage on shares of ResMed in a research report on Monday, October 13th. They issued an “equal weight” rating and a $280.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, ResMed currently has a consensus rating of “Moderate Buy” and a consensus target price of $296.09.

ResMed Stock Performance

Shares of RMD opened at $245.36 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.13 and a current ratio of 2.89. ResMed Inc. has a 1 year low of $199.92 and a 1 year high of $293.81. The firm has a fifty day moving average of $248.62 and a 200-day moving average of $263.39. The company has a market cap of $35.81 billion, a price-to-earnings ratio of 25.11, a price-to-earnings-growth ratio of 1.65 and a beta of 0.88.

ResMed (NYSE:RMD) last posted its earnings results on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.06. ResMed had a net margin of 27.35% and a return on equity of 25.45%. The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same period in the previous year, the business posted $2.20 EPS. ResMed’s revenue was up 9.1% on a year-over-year basis. As a group, equities analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, November 13th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Thursday, November 13th. ResMed’s dividend payout ratio is 24.56%.

ResMed Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.