Chicago Capital LLC Purchases 12,500 Shares of ResMed Inc. (NYSE:RMD)

Chicago Capital LLC boosted its position in ResMed Inc. (NYSE:RMD) by 568.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,700 shares of the medical equipment provider’s stock after buying an additional 12,500 shares during the quarter. Chicago Capital LLC’s holdings in ResMed were worth $2,814,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of RMD. Atlantic Edge Private Wealth Management LLC purchased a new stake in shares of ResMed in the 4th quarter valued at $27,000. OFI Invest Asset Management purchased a new stake in shares of ResMed during the second quarter valued at approximately $32,000. BOK Financial Private Wealth Inc. bought a new position in shares of ResMed in the first quarter worth approximately $35,000. Versant Capital Management Inc increased its stake in shares of ResMed by 196.7% in the second quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 120 shares during the period. Finally, Financial Connections Group Inc. bought a new stake in ResMed during the 2nd quarter valued at $37,000. 54.98% of the stock is currently owned by institutional investors.

ResMed Stock Up 0.0 %

Shares of NYSE RMD traded up $0.09 during trading on Friday, reaching $244.87. The company had a trading volume of 579,029 shares, compared to its average volume of 1,042,666. The business’s 50-day moving average is $215.85 and its 200 day moving average is $204.44. The company has a quick ratio of 1.69, a current ratio of 2.59 and a debt-to-equity ratio of 0.14. The stock has a market cap of $35.98 billion, a PE ratio of 37.61, a P/E/G ratio of 2.44 and a beta of 0.69. ResMed Inc. has a 12-month low of $132.24 and a 12-month high of $247.73.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.05. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period in the previous year, the business earned $1.60 EPS. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, equities analysts forecast that ResMed Inc. will post 8.91 earnings per share for the current fiscal year.

ResMed Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Thursday, August 15th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, August 15th. This is a boost from ResMed’s previous quarterly dividend of $0.48. This represents a $2.12 annualized dividend and a dividend yield of 0.87%. ResMed’s dividend payout ratio (DPR) is 32.57%.

Analyst Ratings Changes

Several research firms recently issued reports on RMD. Needham & Company LLC downgraded ResMed from a “buy” rating to a “hold” rating and set a $236.00 price target on the stock. in a report on Wednesday. Royal Bank of Canada boosted their target price on ResMed from $204.00 to $206.00 and gave the company a “sector perform” rating in a research note on Friday, August 2nd. KeyCorp raised their price target on ResMed from $238.00 to $251.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Oppenheimer cut ResMed from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. Finally, Citigroup downgraded ResMed from a “buy” rating to a “neutral” rating in a report on Monday, June 24th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, ResMed currently has a consensus rating of “Hold” and a consensus target price of $204.70.

Insider Buying and Selling

In other news, insider Justin Leong sold 48,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $217.07, for a total transaction of $10,419,360.00. Following the completion of the transaction, the insider now directly owns 18,741 shares of the company’s stock, valued at $4,068,108.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $192.97, for a total value of $2,833,378.51. Following the transaction, the chief executive officer now owns 440,799 shares of the company’s stock, valued at $85,060,983.03. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Justin Leong sold 48,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $217.07, for a total transaction of $10,419,360.00. Following the sale, the insider now directly owns 18,741 shares of the company’s stock, valued at approximately $4,068,108.87. The disclosure for this sale can be found here. In the last ninety days, insiders sold 83,248 shares of company stock worth $17,698,433. 1.21% of the stock is owned by corporate insiders.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.