Lecap Asset Management Ltd. Invests $366,000 in ResMed Inc. (NYSE:RMD)

Lecap Asset Management Ltd. purchased a new stake in shares of ResMed Inc. (NYSE:RMD) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,501 shares of the medical equipment provider’s stock, valued at approximately $366,000.

Several other institutional investors and hedge funds have also modified their holdings of RMD. OFI Invest Asset Management bought a new position in ResMed during the second quarter valued at about $32,000. BOK Financial Private Wealth Inc. acquired a new stake in ResMed in the 1st quarter worth approximately $35,000. Versant Capital Management Inc boosted its position in ResMed by 196.7% during the second 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 period. Financial Connections Group Inc. acquired a new position in ResMed during the second quarter valued at approximately $37,000. Finally, Blue Trust Inc. raised its position in shares of ResMed by 182.7% in the second quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock valued at $42,000 after purchasing an additional 137 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Trading Up 0.7 %

Shares of RMD opened at $239.05 on Friday. The company has a current ratio of 2.59, a quick ratio of 1.69 and a debt-to-equity ratio of 0.14. The stock has a market cap of $35.09 billion, a PE ratio of 34.49, a PEG ratio of 1.94 and a beta of 0.69. ResMed Inc. has a 1 year low of $132.24 and a 1 year high of $255.18. The stock has a 50 day simple moving average of $239.99 and a 200-day simple moving average of $217.20.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.05. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.22 billion. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the firm posted $1.60 EPS. On average, sell-side analysts predict that ResMed Inc. will post 9.08 EPS for the current fiscal year.

ResMed Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, August 15th were given a dividend of $0.53 per share. The ex-dividend date was Thursday, August 15th. This is a positive change from ResMed’s previous quarterly dividend of $0.48. This represents a $2.12 dividend on an annualized basis and a yield of 0.89%. ResMed’s dividend payout ratio is 30.59%.

Analysts Set New Price Targets

Several brokerages recently commented on RMD. Wolfe Research reiterated an “underperform” rating and issued a $180.00 target price on shares of ResMed in a report on Wednesday, September 18th. KeyCorp increased their price objective on ResMed from $238.00 to $251.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Royal Bank of Canada raised their price objective on shares of ResMed from $206.00 to $224.00 and gave the stock a “sector perform” rating in a research note on Tuesday, October 1st. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a report on Tuesday, October 1st. Finally, Robert W. Baird assumed coverage on shares of ResMed in a report on Tuesday, September 24th. They set an “outperform” rating and a $280.00 price objective on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $218.18.

Insider Activity at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $239.90, for a total value of $479,800.00. Following the transaction, the director now owns 87,204 shares of the company’s stock, valued at approximately $20,920,239.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other ResMed news, insider Justin Leong sold 48,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $217.07, for a total value of $10,419,360.00. Following the completion of the sale, the insider now owns 18,741 shares in the company, valued at approximately $4,068,108.87. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $239.90, for a total transaction of $479,800.00. Following the completion of the transaction, the director now directly owns 87,204 shares of the company’s stock, valued at approximately $20,920,239.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 123,874 shares of company stock valued at $28,151,142 in the last three months. 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.