Amalgamated Bank Sells 1,514 Shares of ResMed Inc. (NYSE:RMD)

Amalgamated Bank decreased its holdings in ResMed Inc. (NYSE:RMD) by 4.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 30,235 shares of the medical equipment provider’s stock after selling 1,514 shares during the quarter. Amalgamated Bank’s holdings in ResMed were worth $5,788,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in RMD. Vanguard Group Inc. lifted its holdings in shares of ResMed by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 17,743,457 shares of the medical equipment provider’s stock valued at $3,052,229,000 after purchasing an additional 173,635 shares in the last quarter. Bank of New York Mellon Corp raised its position in ResMed by 51.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider’s stock valued at $1,105,022,000 after buying an additional 1,959,642 shares during the last quarter. Los Angeles Capital Management LLC lifted its stake in ResMed by 48.3% during the 2nd quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider’s stock valued at $141,694,000 after acquiring an additional 241,195 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in ResMed by 15.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 698,905 shares of the medical equipment provider’s stock worth $120,225,000 after acquiring an additional 95,689 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of ResMed by 19.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 661,717 shares of the medical equipment provider’s stock worth $126,670,000 after acquiring an additional 107,279 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Stock Up 0.8 %

Shares of NYSE RMD opened at $244.90 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.59 and a quick ratio of 1.69. The stock has a market capitalization of $35.98 billion, a PE ratio of 37.62, a P/E/G ratio of 2.50 and a beta of 0.69. ResMed Inc. has a one year low of $132.24 and a one year high of $255.18. The business’s fifty day moving average price is $226.91 and its 200-day moving average price is $209.22.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $2.08 EPS for the quarter, beating the consensus estimate of $2.03 by $0.05. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the prior year, the firm earned $1.60 earnings per share. The company’s revenue was up 6.9% compared to the same quarter last year. On average, equities research analysts anticipate that ResMed Inc. will post 8.92 EPS for the current year.

ResMed Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, August 15th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.87%. This is a positive change from ResMed’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Thursday, August 15th. ResMed’s payout ratio is currently 32.57%.

Insider Buying and Selling at ResMed

In other news, CFO Brett Sandercock sold 1,000 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $194.35, for a total value of $194,350.00. Following the completion of the transaction, the chief financial officer now directly owns 90,056 shares of the company’s stock, valued at $17,502,383.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Brett Sandercock sold 1,000 shares of the stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $194.35, for a total transaction of $194,350.00. Following the sale, the chief financial officer now owns 90,056 shares of the company’s stock, valued at approximately $17,502,383.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kaushik Ghoshal sold 5,000 shares of ResMed stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $252.56, for a total value of $1,262,800.00. Following the transaction, the insider now directly owns 21,788 shares of the company’s stock, valued at approximately $5,502,777.28. The disclosure for this sale can be found here. Insiders have sold 102,931 shares of company stock valued at $22,644,807 in the last 90 days. 1.21% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on RMD. StockNews.com lowered shares of ResMed from a “buy” rating to a “hold” rating in a research report on Friday, August 30th. Royal Bank of Canada lifted their target price on shares of ResMed from $204.00 to $206.00 and gave the stock a “sector perform” rating in a research report on Friday, August 2nd. KeyCorp upped their target price on ResMed from $238.00 to $251.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a report on Wednesday. Finally, Citigroup downgraded ResMed from a “buy” rating to a “neutral” rating in a research note on Monday, June 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $199.70.

ResMed Profile

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.