Caitlin John LLC Has $1.45 Million Holdings in ResMed Inc. $RMD

Key Points

• Caitlin John LLC increased its holdings in ResMed Inc. by 62.3% during the second quarter, acquiring an additional 2,155 shares, bringing their total to 5,616 shares valued at approximately $1,449,000.
• ResMed recently reported $2.55 earnings per share for the quarter, exceeding analysts' expectations of $2.47, and a year-over-year revenue increase of 10.2% to $1.35 billion.
• The company declared a quarterly dividend of $0.60 per share, marking an increase from the previous dividend of $0.53, with an annual yield of 0.9%.

Caitlin John LLC lifted its stake in ResMed Inc. (NYSE:RMD - Free Report) by 62.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,616 shares of the medical equipment provider's stock after acquiring an additional 2,155 shares during the period. ResMed accounts for 1.3% of Caitlin John LLC's portfolio, making the stock its 22nd largest position. Caitlin John LLC's holdings in ResMed were worth $1,449,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC grew its stake in shares of ResMed by 23,982.6% in the 1st quarter. GAMMA Investing LLC now owns 733,556 shares of the medical equipment provider's stock valued at $164,207,000 after buying an additional 730,510 shares during the period. OVERSEA CHINESE BANKING Corp Ltd grew its position in ResMed by 1,168.5% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 590,895 shares of the medical equipment provider's stock worth $132,272,000 after purchasing an additional 544,311 shares during the last quarter. Allianz Asset Management GmbH boosted its holdings in shares of ResMed by 334.0% in the first quarter. Allianz Asset Management GmbH now owns 455,124 shares of the medical equipment provider's stock valued at $101,880,000 after acquiring an additional 350,245 shares in the last quarter. Swedbank AB boosted its holdings in shares of ResMed by 445.1% in the first quarter. Swedbank AB now owns 397,319 shares of the medical equipment provider's stock valued at $88,940,000 after acquiring an additional 324,428 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of ResMed by 1.8% in the first quarter. Vanguard Group Inc. now owns 18,493,702 shares of the medical equipment provider's stock valued at $4,139,815,000 after purchasing an additional 320,240 shares during the period. 54.98% of the stock is owned by hedge funds and other institutional investors.

ResMed Stock Performance

NYSE:RMD traded up $1.40 during trading hours on Monday, hitting $274.59. 549,212 shares of the company traded hands, compared to its average volume of 971,489. ResMed Inc. has a twelve month low of $199.92 and a twelve month high of $293.81. The stock has a market capitalization of $40.20 billion, a price-to-earnings ratio of 28.87, a P/E/G ratio of 1.84 and a beta of 0.85. The company has a current ratio of 3.44, a quick ratio of 2.53 and a debt-to-equity ratio of 0.11. The firm has a 50-day moving average of $276.39 and a 200 day moving average of $250.79.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.47 by $0.08. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The company had revenue of $1.35 billion during the quarter, compared to analysts' expectations of $1.33 billion. During the same quarter in the prior year, the company posted $2.08 EPS. The business's revenue was up 10.2% on a year-over-year basis. On average, analysts forecast that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, August 14th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Thursday, August 14th. This is a positive change from ResMed's previous quarterly dividend of $0.53. ResMed's payout ratio is 25.24%.

Analyst Upgrades and Downgrades

RMD has been the subject of a number of research reports. Royal Bank Of Canada lifted their target price on shares of ResMed from $294.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Piper Sandler increased their price objective on shares of ResMed from $248.00 to $270.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Wall Street Zen lowered shares of ResMed from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th. KeyCorp raised their price target on shares of ResMed from $274.00 to $298.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, Stifel Nicolaus increased their price objective on shares of ResMed from $240.00 to $270.00 and gave the company a "hold" rating in a research note on Friday, August 1st. Three investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $292.00.

Insiders Place Their Bets

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $279.48, for a total transaction of $2,238,355.32. Following the sale, the chief executive officer directly owned 455,503 shares in the company, valued at approximately $127,303,978.44. This trade represents a 1.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Peter C. Farrell sold 945 shares of the company's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $255.49, for a total transaction of $241,438.05. Following the completion of the sale, the director directly owned 68,273 shares in the company, valued at approximately $17,443,068.77. The trade was a 1.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,588 shares of company stock worth $5,289,241. Company insiders own 0.71% of the company's stock.

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.