Victory Capital Management Inc. Buys 11,914 Shares of ResMed Inc. (NYSE:RMD)

Victory Capital Management Inc. lifted its stake in ResMed Inc. (NYSE:RMD) by 11.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 116,710 shares of the medical equipment provider’s stock after purchasing an additional 11,914 shares during the period. Victory Capital Management Inc. owned about 0.08% of ResMed worth $28,491,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. OFI Invest Asset Management bought a new position in ResMed during the 2nd quarter worth about $32,000. Ashton Thomas Securities LLC bought a new position in ResMed during the 3rd quarter worth about $34,000. Versant Capital Management Inc grew its holdings in 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 acquiring an additional 120 shares in the last quarter. Financial Connections Group Inc. bought a new position in ResMed during the 2nd quarter worth about $37,000. Finally, Blue Trust Inc. grew its holdings 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 acquiring an additional 137 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors.

ResMed Stock Performance

RMD opened at $234.74 on Monday. ResMed Inc. has a 12-month low of $147.39 and a 12-month high of $260.49. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $34.46 billion, a PE ratio of 31.09, a P/E/G ratio of 1.71 and a beta of 0.69. The firm has a 50 day moving average of $242.83 and a two-hundred day moving average of $223.67.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the firm posted $1.64 EPS. ResMed’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, analysts anticipate that ResMed Inc. will post 9.28 EPS for the current year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Thursday, November 7th. ResMed’s dividend payout ratio is presently 28.08%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Robert W. Baird increased their price target on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Royal Bank of Canada increased their price target on shares of ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Baird R W raised shares of ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Finally, Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research report on Friday, October 25th. One 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, ResMed has a consensus rating of “Moderate Buy” and a consensus price target of $225.70.

Insiders Place Their Bets

In other news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $248.74, for a total transaction of $497,480.00. Following the completion of the transaction, the director now directly owns 83,204 shares of the company’s stock, valued at $20,696,162.96. The trade was a 2.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Witte Jan De sold 796 shares of ResMed 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 transaction, the director now directly owns 6,723 shares of the company’s stock, valued at approximately $1,672,749.63. This trade represents a 10.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,056 shares of company stock valued at $15,086,020. 0.71% of the stock is owned by 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.