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

Chicago Capital LLC grew its holdings in shares of ResMed Inc. (NYSE:RMD) by 24.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,251 shares of the medical equipment provider’s stock after acquiring an additional 3,551 shares during the period. Chicago Capital LLC’s holdings in ResMed were worth $4,174,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. UMB Bank n.a. grew its stake in shares of ResMed by 1.9% during the third quarter. UMB Bank n.a. now owns 2,465 shares of the medical equipment provider’s stock valued at $602,000 after acquiring an additional 47 shares in the last quarter. Ascent Group LLC increased its holdings in ResMed by 1.7% in the third quarter. Ascent Group LLC now owns 2,924 shares of the medical equipment provider’s stock valued at $714,000 after buying an additional 48 shares during the last quarter. SkyView Investment Advisors LLC increased its holdings in ResMed by 2.0% in the third quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider’s stock valued at $637,000 after buying an additional 51 shares during the last quarter. Wedmont Private Capital increased its holdings in ResMed by 2.6% in the fourth quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider’s stock valued at $475,000 after buying an additional 52 shares during the last quarter. Finally, Concurrent Investment Advisors LLC increased its holdings in ResMed by 3.1% in the third quarter. Concurrent Investment Advisors LLC now owns 1,919 shares of the medical equipment provider’s stock valued at $469,000 after buying an additional 57 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a report on Friday. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Robert W. Baird boosted their price objective on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. boosted their price objective on ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Royal Bank of Canada upped their target price on ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $244.73.

Insiders Place Their Bets

In related news, Director Witte Jan De sold 796 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total transaction of $198,052.76. Following the completion of the sale, the director now owns 6,723 shares in the company, valued at $1,672,749.63. This trade represents a 10.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Justin Leong sold 6,160 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $243.09, for a total value of $1,497,434.40. Following the completion of the transaction, the insider now directly owns 21,718 shares in the company, valued at $5,279,428.62. The trade was a 22.10 % decrease in their ownership of the stock. 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. 0.71% of the stock is currently owned by insiders.

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 company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $34.74 billion, a PE ratio of 27.94, a price-to-earnings-growth ratio of 1.69 and a beta of 0.70. The firm’s fifty day simple moving average is $240.17 and its 200-day simple moving average is $236.41.

ResMed (NYSE:RMD) last posted its quarterly 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 net margin of 25.34% and a return on equity of 26.17%. As a group, sell-side analysts anticipate that ResMed Inc. will post 9.41 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.90%. The ex-dividend date is Thursday, February 13th. ResMed’s payout ratio is 25.03%.

About ResMed

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.