Captrust Financial Advisors Cuts Stake in ResMed Inc. $RMD

Captrust Financial Advisors lowered its stake in shares of ResMed Inc. (NYSE:RMD) by 10.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 480,058 shares of the medical equipment provider’s stock after selling 57,565 shares during the period. Captrust Financial Advisors’ holdings in ResMed were worth $115,632,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Terra Nova Asset Management LLC increased its stake in shares of ResMed by 0.6% during the third quarter. Terra Nova Asset Management LLC now owns 7,805 shares of the medical equipment provider’s stock worth $2,136,000 after purchasing an additional 46 shares in the last quarter. Occidental Asset Management LLC increased its stake in shares of ResMed by 3.0% during the fourth quarter. Occidental Asset Management LLC now owns 1,699 shares of the medical equipment provider’s stock worth $409,000 after purchasing an additional 49 shares in the last quarter. Andina Capital Management LLC increased its stake in shares of ResMed by 2.9% during the fourth quarter. Andina Capital Management LLC now owns 1,988 shares of the medical equipment provider’s stock worth $479,000 after purchasing an additional 56 shares in the last quarter. Wedmont Private Capital increased its stake in shares of ResMed by 2.7% during the fourth quarter. Wedmont Private Capital now owns 2,183 shares of the medical equipment provider’s stock worth $542,000 after purchasing an additional 57 shares in the last quarter. Finally, New Wave Wealth Advisors LLC increased its stake in shares of ResMed by 3.0% during the fourth quarter. New Wave Wealth Advisors LLC now owns 1,956 shares of the medical equipment provider’s stock worth $471,000 after purchasing an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Stock Up 0.7%

Shares of NYSE RMD opened at $194.13 on Wednesday. ResMed Inc. has a 12-month low of $180.26 and a 12-month high of $293.81. The stock has a market cap of $28.16 billion, a PE ratio of 18.72, a P/E/G ratio of 1.23 and a beta of 0.80. The company has a current ratio of 3.01, a quick ratio of 2.33 and a debt-to-equity ratio of 0.06. The company has a 50-day moving average of $209.09 and a 200 day moving average of $234.41.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate 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 prior year, the company earned $2.37 EPS. ResMed’s revenue was up 10.8% compared to the same quarter last year. As a group, sell-side analysts predict that ResMed Inc. will post 11.13 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently announced 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. This represents a $2.40 annualized dividend and a yield of 1.2%. The ex-dividend date is Thursday, May 14th. ResMed’s payout ratio is presently 23.14%.

Analysts Set New Price Targets

A number of research firms have recently commented on RMD. Royal Bank Of Canada boosted their target price on shares of ResMed from $314.00 to $321.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. began coverage on shares of ResMed in a research note on Wednesday, April 15th. They set an “overweight” rating for the company. Weiss Ratings cut shares of ResMed from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 22nd. Robert W. Baird set a $225.00 price objective on shares of ResMed in a research note on Friday, May 1st. Finally, KeyCorp dropped their price objective on shares of ResMed from $302.00 to $290.00 and set an “overweight” rating for the company in a research note on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $279.82.

Insider Activity

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction dated 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 document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction dated 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 owned 466,256 shares in the company, valued at $90,435,013.76. The trade was a 1.06% decrease in their ownership of the stock. 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 a total of 16,973 shares of company stock worth $3,580,754 over the last quarter. 0.65% of the stock is currently owned by company insiders.

ResMed 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.