Victory Capital Management Inc. Has $28.49 Million Holdings in ResMed Inc. (NYSE:RMD)

Victory Capital Management Inc. grew its holdings in shares of ResMed Inc. (NYSE:RMD - Free Report) by 11.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 116,710 shares of the medical equipment provider's stock after purchasing an additional 11,914 shares during the quarter. Victory Capital Management Inc. owned approximately 0.08% of ResMed worth $28,491,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Ashton Thomas Securities LLC acquired a new stake in shares of ResMed in the third quarter worth approximately $34,000. OFI Invest Asset Management purchased a new position in shares of ResMed in the 2nd quarter worth about $32,000. Versant Capital Management Inc lifted its stake 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 valued at $35,000 after purchasing an additional 120 shares in the last quarter. Financial Connections Group Inc. purchased a new stake in shares of ResMed during the 2nd quarter worth about $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 worth $42,000 after purchasing an additional 137 shares in the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Price Performance

ResMed stock traded up $4.68 during trading hours on Monday, hitting $239.42. 756,885 shares of the company traded hands, compared to its average volume of 1,047,856. The firm's 50-day simple moving average is $242.62 and its two-hundred day simple moving average is $223.82. The firm has a market cap of $35.15 billion, a P/E ratio of 31.71, a P/E/G ratio of 1.71 and a beta of 0.69. ResMed Inc. has a 1-year low of $148.03 and a 1-year high of $260.49. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13.

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

ResMed Announces Dividend

The company also recently disclosed 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. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Thursday, November 7th. ResMed's dividend payout ratio is presently 28.08%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Baird R W upgraded shares of ResMed to a "strong-buy" rating in a research note on Tuesday, September 24th. Royal Bank of Canada increased their price target on ResMed from $224.00 to $232.00 and gave the company a "sector perform" rating in a report on Friday, October 25th. StockNews.com upgraded ResMed from a "hold" rating to a "buy" rating in a research note on Tuesday, October 15th. Needham & Company LLC reiterated a "hold" rating on shares of ResMed in a report on Friday, October 25th. Finally, KeyCorp lifted their price objective on shares of ResMed from $251.00 to $266.00 and gave the stock an "overweight" rating in a report 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 issued a strong buy rating to the company. According to MarketBeat.com, ResMed currently has an average rating of "Moderate Buy" and an average price target of $225.70.

Insider Activity

In related news, Director Witte Jan De sold 796 shares of the stock in a transaction that occurred on 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 directly owns 6,723 shares of the company's stock, valued at $1,672,749.63. This represents a 10.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Michael J. Rider sold 882 shares of the firm's stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $231.00, for a total transaction of $203,742.00. Following the sale, the general counsel now owns 10,512 shares of the company's stock, valued at $2,428,272. The trade was a 7.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 63,056 shares of company stock worth $15,086,020 over the last 90 days. 0.71% of the stock is currently owned by company insiders.

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.