228,458 Shares in ResMed Inc. $RMD Purchased by American Capital Management Inc.

American Capital Management Inc. bought a new stake in shares of ResMed Inc. (NYSE:RMD - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 228,458 shares of the medical equipment provider's stock, valued at approximately $44,522,000. ResMed accounts for 2.0% of American Capital Management Inc.'s holdings, making the stock its 22nd largest holding. American Capital Management Inc. owned about 0.16% of ResMed at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. International Assets Investment Management LLC purchased a new position in shares of ResMed during the fourth quarter worth approximately $25,000. Bell Investment Advisors Inc bought a new position in ResMed in the second quarter worth approximately $26,000. Imprint Wealth LLC bought a new position in ResMed in the third quarter worth approximately $26,000. WFA of San Diego LLC purchased a new position in ResMed during the 2nd quarter worth $26,000. Finally, Sunbelt Securities Inc. purchased a new position in ResMed during the 3rd quarter worth $31,000. Institutional investors own 54.98% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on RMD shares. Robert W. Baird set a $213.00 price objective on shares of ResMed in a research note on Friday, August 7th. Morgan Stanley restated an "equal weight" rating and issued a $230.00 price target (down from $286.00) on shares of ResMed in a report on Wednesday, June 17th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of ResMed in a research report on Wednesday, July 1st. KeyCorp dropped their price objective on shares of ResMed from $260.00 to $255.00 and set an "overweight" rating on the stock in a research note on Friday, August 7th. Finally, Rothschild & Co Redburn began coverage on shares of ResMed in a report on Wednesday, August 19th. They set a "neutral" rating and a $230.00 price objective on the stock. Seven research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $239.38.

ResMed Stock Performance

RMD opened at $235.73 on Thursday. ResMed Inc. has a 12-month low of $180.26 and a 12-month high of $285.08. The company has a current ratio of 3.10, a quick ratio of 2.42 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $34.00 billion, a PE ratio of 22.60, a P/E/G ratio of 1.48 and a beta of 0.76. The firm has a 50 day moving average of $209.84 and a two-hundred day moving average of $219.29.

ResMed (NYSE:RMD - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The medical equipment provider reported $2.95 earnings per share for the quarter, beating analysts' consensus estimates of $2.89 by $0.06. The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.46 billion. ResMed had a return on equity of 25.58% and a net margin of 26.94%.The company's revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the business posted $2.55 EPS. On average, analysts anticipate that ResMed Inc. will post 12.03 EPS for the current year.

ResMed Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, August 20th will be given a dividend of $0.66 per share. This is a boost from ResMed's previous quarterly dividend of $0.60. The ex-dividend date is Thursday, August 20th. This represents a $2.64 annualized dividend and a dividend yield of 1.1%. ResMed's payout ratio is currently 25.31%.

Insider Activity

In other news, Director Peter C. Farrell sold 8,000 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $225.00, for a total value of $1,800,000.00. Following the completion of the sale, the director directly owned 52,773 shares in the company, valued at $11,873,925. This represents a 13.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $205.69, for a total transaction of $1,026,598.79. Following the completion of the sale, the chief executive officer owned 466,256 shares of the company's stock, valued at approximately $95,904,196.64. The trade was a 1.06% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 22,973 shares of company stock worth $4,885,436. 0.65% of the stock is currently owned by insiders.

About ResMed

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.

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