Capital Impact Advisors LLC Buys 114,318 Shares of ResMed Inc. $RMD

Capital Impact Advisors LLC raised its stake in ResMed Inc. (NYSE:RMD) by 253.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 159,358 shares of the medical equipment provider’s stock after acquiring an additional 114,318 shares during the quarter. ResMed makes up approximately 3.0% of Capital Impact Advisors LLC’s investment portfolio, making the stock its 15th largest position. Capital Impact Advisors LLC owned 0.11% of ResMed worth $38,385,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Imprint Wealth LLC bought a new position in shares of ResMed in the third quarter worth about $26,000. WFA of San Diego LLC bought a new position in shares of ResMed in the second quarter worth about $26,000. International Assets Investment Management LLC bought a new position in shares of ResMed in the fourth quarter worth about $25,000. ORG Partners LLC lifted its holdings in shares of ResMed by 181.6% in the fourth quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock worth $26,000 after acquiring an additional 69 shares during the last quarter. Finally, Sunbelt Securities Inc. bought a new position in shares of ResMed in the third quarter worth about $31,000. Institutional investors own 54.98% of the company’s stock.

Analyst Ratings Changes

RMD has been the subject of a number of research reports. Evercore set a $255.00 target price on shares of ResMed and gave the stock an “outperform” rating in a report on Monday, April 13th. Robert W. Baird set a $225.00 target price on shares of ResMed in a report on Friday, May 1st. Weiss Ratings lowered shares of ResMed from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 22nd. Wall Street Zen lowered shares of ResMed from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Finally, Citigroup dropped their price objective on shares of ResMed from $340.00 to $270.00 and set a “buy” rating for the company in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $273.00.

Insider Activity at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total transaction of $450,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $193.96, for a total transaction of $968,054.36. Following the sale, the chief executive officer directly owned 466,256 shares of the company’s stock, valued at approximately $90,435,013.76. This trade represents a 1.06% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 16,973 shares of company stock valued at $3,580,754. Insiders own 0.65% of the company’s stock.

ResMed Stock Down 3.8%

ResMed stock opened at $186.48 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.33 and a current ratio of 3.01. ResMed Inc. has a 52-week low of $180.26 and a 52-week high of $293.81. The firm has a 50 day moving average price of $208.33 and a two-hundred day moving average price of $233.92. The firm has a market cap of $27.05 billion, a price-to-earnings ratio of 17.98, a PEG ratio of 1.24 and a beta of 0.80.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $1.42 billion. During the same quarter last year, the business earned $2.37 EPS. The company’s revenue was up 10.8% compared to the same quarter last year. Equities analysts predict that ResMed Inc. will post 11.13 EPS for the current year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, May 14th will be issued a dividend of $0.60 per share. The ex-dividend date is Thursday, May 14th. This represents a $2.40 annualized dividend and a yield of 1.3%. ResMed’s dividend payout ratio (DPR) is presently 23.14%.

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.