Caprock Group LLC Has $1.40 Million Stake in ResMed Inc. (NYSE:RMD)

Caprock Group LLC raised its stake in ResMed Inc. (NYSE:RMD) by 95.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor 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 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in RMD. Bank of New York Mellon Corp lifted its stake in ResMed by 51.4% in the second quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider’s stock valued at $1,105,022,000 after buying an additional 1,959,642 shares during the period. Marshall Wace LLP acquired a new position in ResMed in the second quarter valued at about $77,285,000. Greenvale Capital LLP lifted its stake in ResMed by 61.1% in the second quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock valued at $138,780,000 after buying an additional 275,000 shares during the period. Los Angeles Capital Management LLC lifted its stake in ResMed by 48.3% in the second quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider’s stock valued at $141,694,000 after buying an additional 241,195 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in ResMed in the second quarter valued at about $42,036,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on RMD shares. Bank of America increased their target price on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Royal Bank of Canada increased their price target on ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Needham & Company LLC restated a “hold” rating on shares of ResMed in a report on Friday, October 25th. Finally, Wolfe Research restated an “underperform” rating and issued a $180.00 price target on shares of ResMed in a report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $225.70.

Insider Activity

In related 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 transaction of $479,800.00. Following the sale, the director now owns 87,204 shares in the company, valued at $20,920,239.60. The trade was a 2.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Brett Sandercock sold 1,000 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $246.42, for a total value of $246,420.00. Following the sale, the chief financial officer now owns 96,812 shares in the company, valued at $23,856,413.04. This represents a 1.02 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 62,174 shares of company stock worth $14,882,278. Insiders own 0.71% of the company’s stock.

ResMed Price Performance

ResMed stock opened at $241.55 on Thursday. The stock’s fifty day moving average price is $242.10 and its two-hundred day moving average price is $224.10. ResMed Inc. has a one year low of $150.39 and a one 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 firm has a market cap of $35.46 billion, a PE ratio of 31.99, a price-to-earnings-growth ratio of 1.71 and a beta of 0.69.

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

ResMed Dividend Announcement

The firm 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 0.88%. ResMed’s payout ratio is 28.08%.

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.