Caprock Group LLC Purchases 2,806 Shares of ResMed Inc. (NYSE:RMD)

Caprock Group LLC raised its position in ResMed Inc. (NYSE:RMD - Free Report) by 95.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,732 shares of the medical equipment provider's stock after buying an additional 2,806 shares during the period. Caprock Group LLC's holdings in ResMed were worth $1,399,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new stake in ResMed in the 2nd quarter valued at about $32,000. Ashton Thomas Securities LLC purchased a new stake in shares of ResMed during the 3rd quarter worth approximately $34,000. Versant Capital Management Inc increased its stake in shares of ResMed by 196.7% during the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider's stock worth $35,000 after purchasing an additional 120 shares during the last quarter. Financial Connections Group Inc. purchased a new stake in shares of ResMed during the 2nd quarter worth approximately $37,000. Finally, Blue Trust Inc. increased its stake in shares of ResMed by 182.7% during the 2nd quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider's stock worth $42,000 after purchasing an additional 137 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on RMD shares. Wolfe Research restated an "underperform" rating and set a $180.00 price target on shares of ResMed in a research note on Wednesday, September 18th. KeyCorp lifted their price objective on shares of ResMed from $251.00 to $266.00 and gave the company an "overweight" rating in a research note on Friday, October 25th. StockNews.com upgraded shares of ResMed from a "hold" rating to a "buy" rating in a research note on Tuesday, October 15th. Robert W. Baird lifted their price objective on shares of ResMed from $280.00 to $283.00 and gave the company an "outperform" rating in a research note on Friday, October 25th. Finally, Royal Bank of Canada lifted their price objective on shares of ResMed from $224.00 to $232.00 and gave the company a "sector perform" rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $225.70.

ResMed Price Performance

Shares of NYSE RMD opened at $241.55 on Thursday. ResMed Inc. has a 1 year low of $150.39 and a 1 year high of $260.49. 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 company's 50-day moving average is $242.10 and its 200 day moving average is $224.10. The stock has a market capitalization of $35.46 billion, a P/E ratio of 31.99, a P/E/G ratio of 1.73 and a beta of 0.69.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, beating analysts' consensus estimates of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the firm earned $1.64 earnings per share. The firm's revenue for the quarter was up 11.1% compared to the same quarter last year. On average, sell-side analysts expect that ResMed Inc. will post 9.28 earnings per share for the current year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be paid a dividend of $0.53 per share. The ex-dividend date is Thursday, November 7th. This represents a $2.12 annualized dividend and a yield of 0.88%. ResMed's payout ratio is 28.08%.

Insider Activity at ResMed

In other ResMed news, insider Kaushik Ghoshal sold 5,000 shares of the business's stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $252.56, for a total value of $1,262,800.00. Following the completion of the sale, the insider now directly owns 21,788 shares of the company's stock, valued at $5,502,777.28. The trade was a 18.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael J. Farrell sold 14,683 shares of the business's stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $248.38, for a total transaction of $3,646,963.54. Following the completion of the sale, the chief executive officer now directly owns 464,169 shares of the company's stock, valued at approximately $115,290,296.22. This trade represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 62,174 shares of company stock valued at $14,882,278. Corporate insiders own 0.71% of the company's stock.

ResMed 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.