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

Caprock Group LLC decreased its holdings in ResMed Inc. (NYSE:RMD) by 1.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,640 shares of the medical equipment provider’s stock after selling 92 shares during the quarter. Caprock Group LLC’s holdings in ResMed were worth $1,290,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. True Wealth Design LLC boosted its stake in shares of ResMed by 2,200.0% during the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 110 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of ResMed in the 3rd quarter worth about $34,000. Rosenberg Matthew Hamilton acquired a new stake in shares of ResMed in the 4th quarter valued at about $54,000. Capital Performance Advisors LLP bought a new position in shares of ResMed during the third quarter worth about $60,000. Finally, Venturi Wealth Management LLC grew its stake in ResMed by 55.7% in the third quarter. Venturi Wealth Management LLC now owns 341 shares of the medical equipment provider’s stock worth $83,000 after purchasing an additional 122 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Insider Transactions at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $248.74, for a total value of $497,480.00. Following the completion of the sale, the director now owns 83,204 shares in the company, valued at $20,696,162.96. This represents a 2.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Witte Jan De sold 796 shares of ResMed stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total value of $198,052.76. Following the transaction, the director now directly owns 6,723 shares in the company, valued at approximately $1,672,749.63. This trade represents a 10.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,030 shares of company stock valued at $2,702,687 over the last three months. Company insiders own 0.71% of the company’s stock.

ResMed Trading Down 8.1 %

NYSE:RMD opened at $236.66 on Monday. ResMed Inc. has a 1 year low of $170.56 and a 1 year high of $263.05. The business has a fifty day moving average of $240.17 and a 200-day moving average of $236.41. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92. The stock has a market cap of $34.74 billion, a price-to-earnings ratio of 31.35, a PEG ratio of 1.83 and a beta of 0.70.

ResMed (NYSE:RMD) last released its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.14. ResMed had a return on equity of 25.53% and a net margin of 23.15%. 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 given a $0.53 dividend. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 0.90%. ResMed’s dividend payout ratio (DPR) is 28.08%.

Analyst Ratings Changes

A number of research analysts have commented on RMD shares. Piper Sandler increased their target price on ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday. JPMorgan Chase & Co. lifted their price objective on shares of ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a report on Friday. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. The Goldman Sachs Group began coverage on shares of ResMed in a report on Thursday, January 16th. They issued a “buy” rating for the company. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research report on Friday. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and one has issued 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 $244.73.

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.