American Capital Management Inc. Sells 41,557 Shares of ResMed Inc. $RMD

American Capital Management Inc. lessened its holdings in shares of ResMed Inc. (NYSE:RMD) by 13.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 265,399 shares of the medical equipment provider’s stock after selling 41,557 shares during the period. ResMed makes up 3.2% of American Capital Management Inc.’s portfolio, making the stock its 9th biggest position. American Capital Management Inc.’s holdings in ResMed were worth $59,577,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Jones Financial Companies Lllp boosted its stake in ResMed by 52.6% in 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 period. Arrowstreet Capital Limited Partnership acquired a new stake in shares of ResMed in the 2nd quarter valued at about $389,000. Brown Advisory Inc. lifted its holdings in shares of ResMed by 17.8% in the second 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 in the last quarter. Cresset Asset Management LLC bought a new stake in shares of ResMed in the second quarter valued at about $206,000. Finally, Alliancebernstein L.P. boosted 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 currently owned by institutional investors and hedge funds.

Insider Activity at ResMed

In related news, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $218.55, for a total value of $1,090,783.05. Following the transaction, the chief executive officer directly owned 466,223 shares of the company’s stock, valued at $101,893,036.65. This trade represents a 1.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 14,973 shares of company stock valued at $3,096,067. 0.65% of the stock is currently owned by insiders.

ResMed Stock Performance

NYSE RMD opened at $203.34 on Tuesday. The firm has a 50-day moving average of $198.68 and a 200-day moving average of $224.51. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.33 and a current ratio of 3.01. The stock has a market cap of $29.50 billion, a PE ratio of 19.61, a P/E/G ratio of 1.22 and a beta of 0.78. ResMed Inc. has a 52-week low of $180.26 and a 52-week high of $293.81.

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, beating the consensus estimate of $2.79 by $0.07. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. ResMed had a return on equity of 25.35% and a net margin of 27.44%.The firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.37 EPS. On average, sell-side analysts anticipate that ResMed Inc. will post 11.14 EPS for the current year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Thursday, May 14th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Thursday, May 14th. ResMed’s dividend payout ratio (DPR) is currently 23.14%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. started coverage on shares of ResMed in a research note on Wednesday, April 15th. They set an “overweight” rating for the company. Royal Bank Of Canada lowered shares of ResMed from an “outperform” rating to a “sector perform” rating and set a $234.00 price target on the stock. in a research note on Thursday, July 16th. Weiss Ratings downgraded shares of ResMed from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday. The Goldman Sachs Group reaffirmed a “buy” rating on shares of ResMed in a research report on Wednesday, July 1st. Finally, Mizuho reduced their price target on ResMed from $235.00 to $220.00 and set an “outperform” rating for the company in a research report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $246.25.

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.