Caprock Group LLC Makes New $1.97 Million Investment in ResMed Inc. $RMD

Caprock Group LLC acquired a new stake in shares of ResMed Inc. (NYSE:RMD) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 7,172 shares of the medical equipment provider’s stock, valued at approximately $1,973,000.

A number of other hedge funds also recently made changes to their positions in the stock. SJS Investment Consulting Inc. increased its stake in ResMed by 1,433.3% in the third quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 86 shares during the last quarter. WFA of San Diego LLC purchased a new position in shares of ResMed in the 2nd quarter worth about $26,000. Westside Investment Management Inc. increased its position in shares of ResMed by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 132 shares of the medical equipment provider’s stock valued at $36,000 after purchasing an additional 66 shares during the last quarter. GoalVest Advisory LLC bought a new position in shares of ResMed during the 3rd quarter valued at about $37,000. Finally, Winnow Wealth LLC purchased a new position in shares of ResMed during the 3rd quarter valued at about $54,000. 54.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on RMD. Mizuho cut their target price on ResMed from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, October 31st. Stifel Nicolaus boosted their price objective on shares of ResMed from $260.00 to $265.00 and gave the stock a “hold” rating in a report on Friday, January 30th. Morgan Stanley set a $305.00 price objective on shares of ResMed in a research note on Friday, October 31st. Citigroup lifted their target price on shares of ResMed from $330.00 to $345.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Finally, Wells Fargo & Company upped their price target on shares of ResMed from $265.00 to $270.00 and gave the company an “equal weight” rating in a research report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, ResMed has an average rating of “Moderate Buy” and an average price target of $299.27.

ResMed Stock Up 2.7%

NYSE RMD opened at $252.47 on Friday. ResMed Inc. has a 1 year low of $199.92 and a 1 year high of $293.81. The stock has a market capitalization of $36.78 billion, a PE ratio of 24.97, a PEG ratio of 1.63 and a beta of 0.87. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.06 and a quick ratio of 2.32. The business’s 50-day moving average is $252.55 and its 200 day moving average is $262.95.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, January 29th. The medical equipment provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.13. ResMed had a return on equity of 25.20% and a net margin of 27.53%.The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter last year, the business posted $2.43 EPS. The business’s revenue was up 11.0% on a year-over-year basis. Sell-side analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Thursday, February 12th will be issued a $0.60 dividend. The ex-dividend date is Thursday, February 12th. This represents a $2.40 annualized dividend and a yield of 1.0%. ResMed’s payout ratio is 23.74%.

Insider Buying and Selling at ResMed

In other ResMed news, Director Witte Jan De sold 2,055 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $255.00, for a total value of $524,025.00. Following the completion of the transaction, the director directly owned 4,261 shares in the company, valued at approximately $1,086,555. This represents a 32.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $251.31, for a total transaction of $502,620.00. Following the completion of the sale, the director directly owned 64,773 shares of the company’s stock, valued at approximately $16,278,102.63. This represents a 3.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 18,137 shares of company stock valued at $4,658,832. 0.65% of the stock is currently owned by company insiders.

ResMed Company Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.