American Capital Management Inc. Has $59.58 Million Position in ResMed Inc. $RMD

American Capital Management Inc. cut its stake in ResMed Inc. (NYSE:RMD) by 13.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 265,399 shares of the medical equipment provider’s stock after selling 41,557 shares during the period. ResMed makes up approximately 3.2% of American Capital Management Inc.’s holdings, making the stock its 9th biggest position. American Capital Management Inc. owned 0.18% of ResMed worth $59,577,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of RMD. First Trust Advisors LP lifted its stake in shares of ResMed by 240.9% in the fourth quarter. First Trust Advisors LP now owns 1,517,592 shares of the medical equipment provider’s stock valued at $365,542,000 after buying an additional 1,072,394 shares during the period. Norges Bank bought a new position in ResMed during the fourth quarter valued at about $249,068,000. Deutsche Bank AG raised its holdings in ResMed by 126.0% in the 4th quarter. Deutsche Bank AG now owns 1,413,477 shares of the medical equipment provider’s stock valued at $340,464,000 after acquiring an additional 787,949 shares in the last quarter. Morgan Stanley raised its holdings in ResMed by 25.0% in the 4th quarter. Morgan Stanley now owns 2,891,697 shares of the medical equipment provider’s stock valued at $696,523,000 after acquiring an additional 578,559 shares in the last quarter. Finally, Swedbank AB lifted its position in shares of ResMed by 103.1% in the 4th quarter. Swedbank AB now owns 1,102,476 shares of the medical equipment provider’s stock worth $265,553,000 after acquiring an additional 559,765 shares during the period. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Stock Performance

NYSE:RMD opened at $203.34 on Tuesday. The stock has a market capitalization of $29.50 billion, a P/E ratio of 19.61, a price-to-earnings-growth ratio of 1.22 and a beta of 0.78. The company has a current ratio of 3.01, a quick ratio of 2.33 and a debt-to-equity ratio of 0.06. ResMed Inc. has a 1 year low of $180.26 and a 1 year high of $293.81. The firm has a 50 day moving average of $198.68 and a 200-day moving average of $224.51.

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 analysts’ consensus estimates of $2.79 by $0.07. ResMed had a return on equity of 25.35% and a net margin of 27.44%.The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the previous year, the business posted $2.37 earnings per share. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that ResMed Inc. will post 11.14 EPS for the current fiscal year.

ResMed Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Evercore set a $255.00 price target on shares of ResMed and gave the stock an “outperform” rating in a research note on Monday, April 13th. Citigroup restated 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. Royal Bank Of Canada downgraded shares of ResMed from an “outperform” rating to a “sector perform” rating and set a $234.00 price objective for the company. in a report on Thursday, July 16th. JPMorgan Chase & Co. assumed coverage on shares of ResMed in a report on Wednesday, April 15th. They set an “overweight” rating for the company. Finally, Mizuho decreased their target price on shares of ResMed from $235.00 to $220.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $246.25.

Insider Buying and Selling

In other news, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer directly owned 466,223 shares in the company, valued at $101,893,036.65. This trade represents a 1.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 14,973 shares of company stock worth $3,096,067. 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.