Capital Investment Services of America Inc. Sells 1,961 Shares of ResMed Inc. (NYSE:RMD)

Capital Investment Services of America Inc. trimmed its position in ResMed Inc. (NYSE:RMD) by 1.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,427 shares of the medical equipment provider’s stock after selling 1,961 shares during the quarter. ResMed accounts for 2.6% of Capital Investment Services of America Inc.’s holdings, making the stock its 16th biggest holding. Capital Investment Services of America Inc. owned 0.08% of ResMed worth $27,083,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. True Wealth Design LLC increased its position in shares of ResMed by 2,200.0% in the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 110 shares during the period. Ashton Thomas Securities LLC bought a new position in ResMed in the 3rd quarter valued at about $34,000. Rosenberg Matthew Hamilton bought a new position in ResMed in the 4th quarter valued at about $54,000. Capital Performance Advisors LLP acquired a new position in shares of ResMed in the 3rd quarter valued at approximately $60,000. Finally, Venturi Wealth Management LLC lifted its holdings in shares of ResMed by 55.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 341 shares of the medical equipment provider’s stock worth $83,000 after acquiring an additional 122 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Price Performance

Shares of NYSE RMD opened at $242.19 on Thursday. The firm’s 50-day moving average price is $239.82 and its 200-day moving average price is $237.15. ResMed Inc. has a 1-year low of $170.56 and a 1-year high of $263.05. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $35.55 billion, a P/E ratio of 28.59, a P/E/G ratio of 1.69 and a beta of 0.70.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. Equities research analysts anticipate that ResMed Inc. will post 9.41 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be issued a dividend of $0.53 per share. The ex-dividend date is Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 0.88%. ResMed’s payout ratio is 25.03%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on RMD. Royal Bank of Canada boosted their price objective on shares of ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research note on Friday, January 31st. 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 started coverage on shares of ResMed in a research report on Thursday, January 16th. They set a “buy” rating for the company. Finally, Robert W. Baird boosted their target price on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $244.73.

Insider Buying and Selling at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $245.65, for a total transaction of $491,300.00. Following the transaction, the director now directly owns 81,218 shares in the company, valued at approximately $19,951,201.70. This trade represents a 2.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Justin Leong sold 6,160 shares of the stock in a transaction dated 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 sale, the insider now owns 21,718 shares of the company’s stock, 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. Over the last three months, insiders have sold 11,094 shares of company stock valued at $2,704,941. Corporate insiders own 0.71% of the company’s stock.

ResMed Company 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.