Capital Impact Advisors LLC Boosts Holdings in ResMed Inc. $RMD

Capital Impact Advisors LLC raised its position in ResMed Inc. (NYSE:RMD) by 22.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,040 shares of the medical equipment provider’s stock after purchasing an additional 8,173 shares during the period. ResMed accounts for 2.8% of Capital Impact Advisors LLC’s investment portfolio, making the stock its 17th biggest position. Capital Impact Advisors LLC’s holdings in ResMed were worth $12,329,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in RMD. Jones Financial Companies Lllp boosted its stake in ResMed by 52.6% during the first quarter. Jones Financial Companies Lllp now owns 2,882 shares of the medical equipment provider’s stock valued at $645,000 after buying an additional 994 shares during the period. Allworth Financial LP increased its stake in ResMed by 53.0% in the 2nd quarter. Allworth Financial LP now owns 1,082 shares of the medical equipment provider’s stock worth $279,000 after acquiring an additional 375 shares during the last quarter. Vise Technologies Inc. bought a new position in ResMed in the 2nd quarter worth about $553,000. KBC Group NV raised its holdings in shares of ResMed by 4.3% in the 2nd quarter. KBC Group NV now owns 49,124 shares of the medical equipment provider’s stock valued at $12,674,000 after acquiring an additional 2,006 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of ResMed by 0.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 91,996 shares of the medical equipment provider’s stock valued at $23,735,000 after acquiring an additional 729 shares in the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

ResMed Stock Performance

Shares of NYSE RMD opened at $231.00 on Friday. ResMed Inc. has a 1-year low of $199.92 and a 1-year high of $293.81. The company has a current ratio of 3.06, a quick ratio of 2.32 and a debt-to-equity ratio of 0.06. The stock’s 50-day moving average is $255.05 and its 200 day moving average is $258.37. The stock has a market cap of $33.65 billion, a price-to-earnings ratio of 22.85, a P/E/G ratio of 1.53 and a beta of 0.88.

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

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Thursday, February 12th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Thursday, February 12th. ResMed’s dividend payout ratio (DPR) is presently 23.74%.

Insider Buying and Selling at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $260.22, for a total value of $520,440.00. Following the completion of the sale, the director directly owned 62,773 shares of the company’s stock, valued at $16,334,790.06. The trade was a 3.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $251.03, for a total transaction of $1,252,890.73. Following the sale, the chief executive officer owned 466,223 shares of the company’s stock, valued at approximately $117,035,959.69. The trade was a 1.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 21,073 shares of company stock valued at $5,405,198 over the last three months. 0.65% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Stifel Nicolaus lifted their price target on ResMed from $260.00 to $265.00 and gave the company a “hold” rating in a research report on Friday, January 30th. UBS Group restated a “buy” rating and issued a $345.00 price objective on shares of ResMed in a research report on Friday, December 12th. Weiss Ratings upgraded shares of ResMed from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 9th. Wells Fargo & Company boosted their price target on shares of ResMed from $265.00 to $270.00 and gave the stock an “equal weight” rating in a research note on Friday, January 30th. Finally, KeyCorp reissued an “overweight” rating and issued a $302.00 price target on shares of ResMed in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $299.27.

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.