Capital Impact Advisors LLC Buys 8,173 Shares of ResMed Inc. $RMD

Capital Impact Advisors LLC grew its stake in shares of ResMed Inc. (NYSE:RMD) by 22.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 45,040 shares of the medical equipment provider’s stock after purchasing an additional 8,173 shares during the quarter. ResMed makes up approximately 2.8% of Capital Impact Advisors LLC’s 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 reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Jones Financial Companies Lllp raised its holdings in ResMed by 52.6% during the 1st 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 last quarter. Allworth Financial LP grew its holdings 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 stake in ResMed in the 2nd quarter worth $553,000. KBC Group NV increased its position in shares of ResMed by 4.3% in the second 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 during the period. Finally, PNC Financial Services Group Inc. increased its position in shares of ResMed by 0.8% in the second 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 during the period. Institutional investors own 54.98% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on RMD. Royal Bank Of Canada increased their target price on shares of ResMed from $311.00 to $314.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. Citigroup boosted their price target on ResMed from $330.00 to $345.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Piper Sandler upped their price target on ResMed from $270.00 to $275.00 and gave the company a “neutral” rating in a research report on Friday, January 30th. Wells Fargo & Company increased their price objective on ResMed from $265.00 to $270.00 and gave the stock an “equal weight” rating in a report on Friday, January 30th. Finally, Robert W. Baird set a $281.00 price objective on ResMed in a research report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, ResMed presently has an average rating of “Moderate Buy” and an average price target of $299.27.

Insider Buying and Selling at ResMed

In other news, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $248.46, for a total transaction of $1,240,063.86. Following the completion of the transaction, the chief executive officer directly owned 466,223 shares in the company, valued at $115,837,766.58. This trade represents a 1.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $260.22, for a total value of $520,440.00. Following the completion of the transaction, the director directly owned 62,773 shares of the company’s stock, valued at approximately $16,334,790.06. This represents a 3.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 21,073 shares of company stock valued at $5,405,198 over the last 90 days. Corporate insiders own 0.65% of the company’s stock.

ResMed Price Performance

RMD stock opened at $231.00 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.32 and a current ratio of 3.06. The firm has a 50 day moving average price of $255.05 and a 200-day moving average price of $258.37. ResMed Inc. has a 52-week low of $199.92 and a 52-week high of $293.81. The firm has a market capitalization of $33.65 billion, a price-to-earnings ratio of 22.85, a PEG 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 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.13. ResMed had a return on equity of 25.20% and a net margin of 27.53%.The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the business posted $2.43 EPS. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. Equities research analysts forecast that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

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

ResMed 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.