nVerses Capital LLC Has $1.17 Million Stock Holdings in ResMed Inc. (NYSE:RMD)

nVerses Capital LLC increased its holdings in shares of ResMed Inc. (NYSE:RMD) by 269.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 4,800 shares of the medical equipment provider’s stock after purchasing an additional 3,500 shares during the period. ResMed comprises approximately 0.5% of nVerses Capital LLC’s holdings, making the stock its 4th largest holding. nVerses Capital LLC’s holdings in ResMed were worth $1,172,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of RMD. Hengehold Capital Management LLC bought a new stake in shares of ResMed in the third quarter valued at about $213,000. Indiana Trust & Investment Management Co acquired a new stake in shares of ResMed in the third quarter valued at about $98,000. Vontobel Holding Ltd. boosted its position in ResMed by 8.5% during the third quarter. Vontobel Holding Ltd. now owns 3,662 shares of the medical equipment provider’s stock valued at $894,000 after purchasing an additional 288 shares during the last quarter. Birch Capital Management LLC boosted its position in ResMed by 7.6% during the third quarter. Birch Capital Management LLC now owns 29,275 shares of the medical equipment provider’s stock valued at $7,147,000 after purchasing an additional 2,080 shares during the last quarter. Finally, Creative Planning grew its stake in ResMed by 15.4% in the third quarter. Creative Planning now owns 28,021 shares of the medical equipment provider’s stock valued at $6,840,000 after purchasing an additional 3,739 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Price Performance

RMD traded up $0.26 during trading on Thursday, hitting $238.60. 139,825 shares of the stock traded hands, compared to its average volume of 1,030,200. The business has a 50 day moving average price of $237.80 and a 200 day moving average price of $215.36. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.59 and a quick ratio of 1.69. ResMed Inc. has a twelve month low of $132.24 and a twelve month high of $255.18. The company has a market cap of $35.05 billion, a price-to-earnings ratio of 36.63, a PEG ratio of 2.14 and a beta of 0.69.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.05. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.22 billion. ResMed had a return on equity of 25.00% and a net margin of 21.79%. ResMed’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.60 EPS. Equities research analysts forecast that ResMed Inc. will post 9.02 earnings per share for the current fiscal year.

ResMed Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, August 15th were paid a $0.53 dividend. This is an increase from ResMed’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.12 annualized dividend and a yield of 0.89%. ResMed’s dividend payout ratio is presently 32.57%.

Insider Activity

In related news, insider Justin Leong sold 48,000 shares of the firm’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 value of $10,419,360.00. Following the completion of the transaction, the insider now owns 18,741 shares in the company, valued at $4,068,108.87. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Kaushik Ghoshal sold 4,260 shares of the stock in a transaction on Friday, October 11th. The shares were sold at an average price of $238.48, for a total transaction of $1,015,924.80. Following the completion of the sale, the insider now directly owns 21,788 shares in the company, valued at $5,196,002.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Justin Leong sold 48,000 shares of ResMed stock in a transaction on Monday, August 5th. The stock was sold at an average price of $217.07, for a total transaction of $10,419,360.00. Following the transaction, the insider now directly owns 18,741 shares of the company’s stock, valued at $4,068,108.87. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 123,874 shares of company stock worth $28,151,142. Insiders own 1.21% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RMD. Robert W. Baird started coverage on shares of ResMed in a report on Tuesday, September 24th. They set an “outperform” rating and a $280.00 target price on the stock. Bank of America upped their target price on shares of ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, September 26th. KeyCorp lifted their price target on ResMed from $238.00 to $251.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Wolfe Research restated an “underperform” rating and issued a $180.00 price target on shares of ResMed in a research note on Wednesday, September 18th. Finally, Oppenheimer lowered shares of ResMed from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, ResMed presently has a consensus rating of “Moderate Buy” and a consensus target price of $218.18.

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.