ResMed Inc. (NYSE:RMD) Shares Bought by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec grew its position in shares of ResMed Inc. (NYSE:RMD - Free Report) by 726.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 283,801 shares of the medical equipment provider's stock after buying an additional 249,454 shares during the period. Caisse DE Depot ET Placement DU Quebec owned approximately 0.19% of ResMed worth $69,281,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new stake in ResMed in the third quarter worth approximately $34,000. OFI Invest Asset Management purchased a new stake in ResMed in the 2nd quarter worth approximately $32,000. Versant Capital Management Inc raised its position in shares of ResMed by 196.7% in the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider's stock worth $35,000 after acquiring an additional 120 shares in the last quarter. Financial Connections Group Inc. bought a new position in ResMed during the 2nd quarter valued at approximately $37,000. Finally, Blue Trust Inc. increased its position in ResMed by 182.7% during the 2nd quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider's stock valued at $42,000 after buying an additional 137 shares in the last quarter. Institutional investors own 54.98% of the company's stock.

ResMed Stock Performance

Shares of NYSE RMD traded down $0.31 during trading hours on Friday, reaching $249.02. The stock had a trading volume of 351,327 shares, compared to its average volume of 842,042. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. The business's fifty day moving average is $242.24 and its two-hundred day moving average is $225.70. ResMed Inc. has a twelve month low of $156.39 and a twelve month high of $260.49. The company has a market cap of $36.56 billion, a price-to-earnings ratio of 32.98, a PEG ratio of 1.81 and a beta of 0.69.

ResMed (NYSE:RMD - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.17. The business had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. ResMed's revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.64 EPS. As a group, research analysts expect that ResMed Inc. will post 9.28 EPS for the current year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be paid a $0.53 dividend. The ex-dividend date is Thursday, November 7th. This represents a $2.12 annualized dividend and a dividend yield of 0.85%. ResMed's payout ratio is 28.08%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Robert W. Baird lifted their target price on ResMed from $280.00 to $283.00 and gave the company an "outperform" 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, October 25th. Baird R W upgraded ResMed to a "strong-buy" rating in a research report on Tuesday, September 24th. Wolfe Research reiterated an "underperform" rating and issued a $180.00 price target on shares of ResMed in a report on Wednesday, September 18th. Finally, KeyCorp upped their price target on ResMed from $251.00 to $266.00 and gave the stock an "overweight" rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $225.70.

Insider Activity

In related news, CFO Brett Sandercock sold 1,000 shares of the business's stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $246.42, for a total transaction of $246,420.00. Following the completion of the transaction, the chief financial officer now directly owns 96,812 shares in the company, valued at $23,856,413.04. The trade was a 1.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Witte Jan De sold 796 shares of the business's 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 completion of the sale, the director now directly owns 6,723 shares of the company's stock, 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. Over the last quarter, insiders sold 68,334 shares of company stock valued at $16,379,713. Company 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.