ResMed Inc. (NYSE:RMD) Shares Sold by Chicago Capital LLC

Chicago Capital LLC lowered its stake in ResMed Inc. (NYSE:RMD) by 1.0% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 18,062 shares of the medical equipment provider’s stock after selling 189 shares during the period. Chicago Capital LLC’s holdings in ResMed were worth $4,043,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. First Horizon Advisors Inc. lifted its holdings in shares of ResMed by 285.1% during the fourth quarter. First Horizon Advisors Inc. now owns 593 shares of the medical equipment provider’s stock valued at $136,000 after purchasing an additional 439 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in ResMed by 2.8% during the 4th quarter. Asset Management One Co. Ltd. now owns 60,489 shares of the medical equipment provider’s stock worth $14,105,000 after buying an additional 1,629 shares during the period. Cumberland Partners Ltd lifted its stake in ResMed by 550.0% during the fourth quarter. Cumberland Partners Ltd now owns 13,000 shares of the medical equipment provider’s stock valued at $2,973,000 after buying an additional 11,000 shares in the last quarter. Alberta Investment Management Corp acquired a new position in shares of ResMed in the fourth quarter worth about $2,378,000. Finally, Atria Wealth Solutions Inc. purchased a new position in shares of ResMed in the fourth quarter worth approximately $601,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Trading Up 0.9%

Shares of NYSE RMD opened at $251.61 on Tuesday. The business has a 50 day simple moving average of $237.75 and a 200 day simple moving average of $234.65. ResMed Inc. has a 52 week low of $179.42 and a 52 week high of $263.05. The stock has a market cap of $36.89 billion, a price-to-earnings ratio of 29.71, a PEG ratio of 1.53 and a beta of 0.78. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33.

ResMed (NYSE:RMD) last posted its earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, topping the consensus estimate of $2.36 by $0.01. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. ResMed had a net margin of 25.34% and a return on equity of 26.17%. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.13 earnings per share. On average, research analysts predict that ResMed Inc. will post 9.47 earnings per share for the current fiscal 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 given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend was Thursday, May 8th. ResMed’s payout ratio is 23.79%.

Insider Buying and Selling at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction on 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 directly owns 71,218 shares of the company’s stock, valued at approximately $17,252,560.50. This represents a 2.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction 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 completion of the transaction, the chief executive officer now owns 455,503 shares in the company, valued at $114,426,908.63. This trade represents a 1.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,132 shares of company stock worth $7,075,837 over the last three months. Corporate insiders own 0.71% of the company’s stock.

Analyst Upgrades and Downgrades

RMD has been the subject of several research analyst reports. Royal Bank of Canada upped their price target on shares of ResMed from $247.00 to $255.00 and gave the company a “sector perform” rating in a research report on Thursday, April 24th. Piper Sandler decreased their target price on ResMed from $260.00 to $248.00 and set a “neutral” rating for the company in a research report on Thursday, April 24th. Morgan Stanley set a $286.00 price target on ResMed and gave the company an “overweight” rating in a report on Tuesday, May 20th. JPMorgan Chase & Co. increased their price objective on ResMed from $286.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Finally, KeyCorp set a $274.00 price objective on ResMed in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six 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 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.