38,139 Shares in ResMed Inc. $RMD Bought by Capital Impact Advisors LLC

Key Points

• Capital Impact Advisors LLC acquired a new position in ResMed Inc., purchasing 38,139 shares valued at approximately $8.5 million, making it the 13th largest holding in their portfolio.
• ResMed's recent quarterly report showed earnings per share of $2.55, exceeding estimates, with revenues increasing by 10.2% year-over-year.
• The company announced a dividend increase from $0.53 to $0.60 per share, with the new dividend set to be paid on September 18th.

Capital Impact Advisors LLC purchased a new position in shares of ResMed Inc. (NYSE:RMD - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 38,139 shares of the medical equipment provider's stock, valued at approximately $8,537,000. ResMed makes up about 3.3% of Capital Impact Advisors LLC's holdings, making the stock its 13th largest holding.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. ICW Investment Advisors LLC increased its position in ResMed by 0.4% during the first quarter. ICW Investment Advisors LLC now owns 11,394 shares of the medical equipment provider's stock worth $2,551,000 after purchasing an additional 41 shares during the last quarter. Smartleaf Asset Management LLC increased its position in shares of ResMed by 3.9% during the first quarter. Smartleaf Asset Management LLC now owns 1,222 shares of the medical equipment provider's stock valued at $269,000 after acquiring an additional 46 shares during the last quarter. E Fund Management Co. Ltd. increased its position in shares of ResMed by 2.8% during the first quarter. E Fund Management Co. Ltd. now owns 1,719 shares of the medical equipment provider's stock valued at $385,000 after acquiring an additional 47 shares during the last quarter. CVA Family Office LLC grew its holdings in shares of ResMed by 29.8% in the first quarter. CVA Family Office LLC now owns 209 shares of the medical equipment provider's stock valued at $47,000 after purchasing an additional 48 shares in the last quarter. Finally, Central Pacific Bank Trust Division grew its holdings in shares of ResMed by 9.7% in the first quarter. Central Pacific Bank Trust Division now owns 565 shares of the medical equipment provider's stock valued at $126,000 after purchasing an additional 50 shares in the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director John Hernandez sold 2,575 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $287.10, for a total transaction of $739,282.50. Following the completion of the transaction, the director directly owned 4,045 shares in the company, valued at approximately $1,161,319.50. This represents a 38.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Peter C. Farrell sold 945 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $255.49, for a total value of $241,438.05. Following the transaction, the director owned 68,273 shares of the company's stock, valued at approximately $17,443,068.77. This trade represents a 1.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 19,588 shares of company stock worth $5,289,241. 0.71% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on RMD shares. Wall Street Zen downgraded shares of ResMed from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. William Blair raised shares of ResMed to a "strong-buy" rating in a report on Friday, August 1st. Stifel Nicolaus boosted their price objective on shares of ResMed from $240.00 to $270.00 and gave the company a "hold" rating in a research note on Friday, August 1st. Royal Bank Of Canada upped their price target on shares of ResMed from $294.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Finally, Morgan Stanley set a $286.00 price target on shares of ResMed and gave the stock an "overweight" rating in a research note on Tuesday, May 20th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $278.36.

ResMed Stock Up 0.0%

RMD opened at $279.53 on Wednesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.53 and a current ratio of 3.44. ResMed Inc. has a 1 year low of $199.92 and a 1 year high of $293.81. The firm has a 50 day moving average price of $273.43 and a 200 day moving average price of $248.06. The company has a market cap of $40.93 billion, a PE ratio of 29.39, a price-to-earnings-growth ratio of 1.87 and a beta of 0.85.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.08. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter last year, the company earned $2.08 earnings per share. ResMed's revenue for the quarter was up 10.2% on a year-over-year basis. Sell-side analysts expect that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, August 14th will be paid a dividend of $0.60 per share. This is an increase from ResMed's previous quarterly dividend of $0.53. The ex-dividend date is Thursday, August 14th. This represents a $2.40 annualized dividend and a dividend yield of 0.9%. ResMed's dividend payout ratio (DPR) is currently 25.24%.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.

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