Little House Capital LLC Takes $695,000 Position in ResMed Inc. $RMD

Little House Capital LLC acquired a new position in shares of ResMed Inc. (NYSE:RMD) in the first quarter, Holdings Channel reports. The institutional investor acquired 3,096 shares of the medical equipment provider’s stock, valued at approximately $695,000.

Other hedge funds and other institutional investors 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 worth $645,000 after purchasing an additional 994 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of ResMed in the 2nd quarter worth approximately $389,000. Brown Advisory Inc. boosted its stake in shares of ResMed by 17.8% in the 2nd quarter. Brown Advisory Inc. now owns 1,586 shares of the medical equipment provider’s stock valued at $409,000 after purchasing an additional 240 shares during the last quarter. Cresset Asset Management LLC bought a new stake in shares of ResMed in the 2nd quarter valued at $206,000. Finally, Alliancebernstein L.P. increased its position in shares of ResMed by 24.2% during the second quarter. Alliancebernstein L.P. now owns 286,078 shares of the medical equipment provider’s stock worth $73,808,000 after buying an additional 55,790 shares during the period. 54.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RMD. Jefferies Financial Group lowered their target price on shares of ResMed from $240.00 to $225.00 and set a “hold” rating for the company in a research note on Friday, July 10th. Weiss Ratings cut shares of ResMed from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 22nd. KeyCorp decreased their price target on ResMed from $290.00 to $266.00 and set an “overweight” rating for the company in a report on Monday, June 22nd. Wells Fargo & Company lowered their price objective on ResMed from $227.00 to $225.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 8th. Finally, Citigroup reissued a “neutral” rating and issued a $235.00 price objective (down from $270.00) on shares of ResMed in a research note on Sunday, July 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $250.00.

ResMed Stock Down 1.9%

Shares of NYSE:RMD opened at $198.86 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.01 and a quick ratio of 2.33. The company has a market capitalization of $28.85 billion, a PE ratio of 19.18, a price-to-earnings-growth ratio of 1.19 and a beta of 0.78. ResMed Inc. has a 1 year low of $180.26 and a 1 year high of $293.81. The business has a fifty day moving average price of $199.40 and a two-hundred day moving average price of $226.64.

ResMed (NYSE:RMD) last released its earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.07. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the firm earned $2.37 EPS. The company’s revenue was up 10.8% compared to the same quarter last year. Analysts forecast that ResMed Inc. will post 11.13 earnings per share for the current year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th were paid a dividend of $0.60 per share. The ex-dividend date was Thursday, May 14th. This represents a $2.40 annualized dividend and a dividend yield of 1.2%. ResMed’s dividend payout ratio is presently 23.14%.

Insiders Place Their Bets

In related news, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $218.55, for a total value of $1,090,783.05. Following the completion of the sale, the chief executive officer owned 466,223 shares of the company’s stock, valued at approximately $101,893,036.65. This trade represents a 1.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 14,973 shares of company stock valued at $3,096,067. Company insiders own 0.65% of the company’s stock.

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.