Capricorn Fund Managers Ltd Acquires New Holdings in ResMed Inc. (NYSE:RMD)

Capricorn Fund Managers Ltd purchased a new stake in shares of ResMed Inc. (NYSE:RMD) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 61,225 shares of the medical equipment provider’s stock, valued at approximately $13,378,000. ResMed makes up about 4.8% of Capricorn Fund Managers Ltd’s investment portfolio, making the stock its 7th biggest position.

Other large investors have also recently bought and sold shares of the company. Geode Capital Management LLC lifted its stake in shares of ResMed by 3.3% in the first quarter. Geode Capital Management LLC now owns 3,231,885 shares of the medical equipment provider’s stock worth $706,314,000 after buying an additional 103,438 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in ResMed by 3.5% in the 4th quarter. JPMorgan Chase & Co. now owns 1,326,430 shares of the medical equipment provider’s stock valued at $276,071,000 after purchasing an additional 45,381 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of ResMed by 1.4% during the 1st quarter. Bank of New York Mellon Corp now owns 1,260,009 shares of the medical equipment provider’s stock worth $275,929,000 after purchasing an additional 17,283 shares during the period. Norges Bank acquired a new position in shares of ResMed during the fourth quarter valued at about $244,477,000. Finally, Morgan Stanley grew its position in ResMed by 10.3% during the fourth quarter. Morgan Stanley now owns 1,015,261 shares of the medical equipment provider’s stock worth $211,307,000 after buying an additional 95,143 shares in the last quarter. 63.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RMD has been the subject of several recent research reports. Royal Bank of Canada cut their price target on ResMed from $284.00 to $273.00 and set an “outperform” rating for the company in a report on Monday, August 14th. Mizuho dropped their price target on shares of ResMed from $255.00 to $180.00 and set a “buy” rating for the company in a research report on Wednesday, September 13th. StockNews.com assumed coverage on ResMed in a report on Thursday, August 17th. They set a “hold” rating on the stock. TheStreet cut ResMed from a “b-” rating to a “c+” rating in a report on Thursday, August 24th. Finally, UBS Group cut ResMed from a “buy” rating to a “neutral” rating in a research report on Tuesday, September 5th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, ResMed presently has a consensus rating of “Moderate Buy” and a consensus target price of $248.29.

ResMed Stock Up 0.4 %

NYSE RMD opened at $146.01 on Tuesday. The stock has a market capitalization of $21.47 billion, a P/E ratio of 23.94, a price-to-earnings-growth ratio of 2.23 and a beta of 0.52. ResMed Inc. has a 52 week low of $145.00 and a 52 week high of $243.52. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.81 and a current ratio of 3.12. The stock has a fifty day moving average of $183.72 and a 200-day moving average of $207.16.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, August 3rd. The medical equipment provider reported $1.60 EPS for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.07). ResMed had a return on equity of 24.94% and a net margin of 21.25%. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the business earned $1.49 earnings per share. ResMed’s revenue for the quarter was up 22.7% compared to the same quarter last year. On average, equities research analysts forecast that ResMed Inc. will post 7.08 EPS for the current year.

ResMed Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 21st. Investors of record on Thursday, August 17th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.31%. This is an increase from ResMed’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Wednesday, August 16th. ResMed’s payout ratio is 31.48%.

Insider Activity at ResMed

In other ResMed news, CEO Michael J. Farrell sold 5,675 shares of the company’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $221.27, for a total transaction of $1,255,707.25. Following the completion of the sale, the chief executive officer now owns 436,930 shares in the company, valued at approximately $96,679,501.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other ResMed news, COO Robert Andrew Douglas sold 1,500 shares of the firm’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $222.22, for a total transaction of $333,330.00. Following the transaction, the chief operating officer now owns 252,026 shares in the company, valued at $56,005,217.72. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Michael J. Farrell sold 5,675 shares of the company’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $221.27, for a total value of $1,255,707.25. Following the completion of the sale, the chief executive officer now directly owns 436,930 shares of the company’s stock, valued at $96,679,501.10. The disclosure for this sale can be found here. Insiders have sold 14,900 shares of company stock worth $3,021,246 over the last ninety days. Company insiders own 1.39% of the company’s stock.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.