ResMed Inc. $RMD Shares Sold by Captrust Financial Advisors

Key Points

• Captrust Financial Advisors cut its ResMed stake by 10.7% in the fourth quarter, selling 57,565 shares and ending with 480,058 shares valued at about $115.6 million.
• ResMed reported solid quarterly results, with earnings per share of $2.86 beating estimates and revenue of $1.43 billion topping expectations, while revenue rose 10.8% year over year.
• The company also declared a quarterly dividend of $0.60 per share, or $2.40 annually, for a yield of about 1.2% based on the article’s figures.

Captrust Financial Advisors reduced its stake in shares of ResMed Inc. (NYSE:RMD - Free Report) by 10.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 480,058 shares of the medical equipment provider's stock after selling 57,565 shares during the period. Captrust Financial Advisors owned approximately 0.33% of ResMed worth $115,632,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. &PARTNERS lifted its stake in shares of ResMed by 244.8% during the fourth quarter. &PARTNERS now owns 22,127 shares of the medical equipment provider's stock worth $5,334,000 after buying an additional 15,710 shares during the period. Siemens Fonds Invest GmbH lifted its stake in shares of ResMed by 55.0% during the fourth quarter. Siemens Fonds Invest GmbH now owns 3,719 shares of the medical equipment provider's stock worth $904,000 after buying an additional 1,320 shares during the period. Graham Capital Management L.P. lifted its stake in shares of ResMed by 179.8% during the fourth quarter. Graham Capital Management L.P. now owns 21,477 shares of the medical equipment provider's stock worth $5,173,000 after buying an additional 13,801 shares during the period. Carret Asset Management LLC acquired a new stake in shares of ResMed during the fourth quarter worth $812,000. Finally, Rakuten Investment Management Inc. lifted its stake in shares of ResMed by 497.8% during the fourth quarter. Rakuten Investment Management Inc. now owns 19,200 shares of the medical equipment provider's stock worth $4,663,000 after buying an additional 15,988 shares during the period. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. started coverage on shares of ResMed in a research note on Wednesday, April 15th. They set an "overweight" rating for the company. Citigroup decreased their target price on shares of ResMed to $270.00 and set a "buy" rating for the company in a research report on Monday. Robert W. Baird set a $225.00 target price on shares of ResMed in a research report on Friday, May 1st. KeyCorp decreased their target price on shares of ResMed from $302.00 to $290.00 and set an "overweight" rating for the company in a research report on Monday, April 27th. Finally, Evercore set a $255.00 target price on shares of ResMed and gave the company an "outperform" rating in a research report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $279.82.

ResMed Trading Up 0.7%

NYSE RMD opened at $194.13 on Wednesday. ResMed Inc. has a 1 year low of $180.26 and a 1 year high of $293.81. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.01 and a quick ratio of 2.33. The company has a fifty day moving average of $209.09 and a 200 day moving average of $234.41. The company has a market capitalization of $28.16 billion, a PE ratio of 18.72, a P/E/G ratio of 1.23 and a beta of 0.80.

ResMed (NYSE:RMD - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share for the quarter, beating analysts' consensus estimates of $2.79 by $0.07. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The company had revenue of $1.43 billion during the quarter, compared to analysts' expectations of $1.42 billion. During the same quarter in the previous year, the company earned $2.37 earnings per share. The firm's revenue for the quarter was up 10.8% on a year-over-year basis. Research analysts forecast that ResMed Inc. will post 11.13 earnings per share for the current year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, May 14th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $2.40 dividend on an annualized basis and a yield of 1.2%. ResMed's payout ratio is presently 23.14%.

Insiders Place Their Bets

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total value of $450,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction on Monday, June 8th. The shares were sold at an average price of $193.96, for a total transaction of $968,054.36. Following the completion of the transaction, the chief executive officer directly owned 466,256 shares of the company's stock, valued at $90,435,013.76. The trade was a 1.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 16,973 shares of company stock valued at $3,580,754 in the last ninety days. 0.65% of the stock is owned by corporate insiders.

ResMed Company 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.

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