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 fund owned 30,235 shares of the medical equipment provider’s stock after selling 1,514 shares during the period. Amalgamated Bank’s holdings in ResMed were worth $5,788,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of RMD. Vanguard Group Inc. grew its position in 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 acquiring an additional 173,635 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of ResMed by 51.4% during 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 purchasing an additional 1,959,642 shares during the last quarter. Los Angeles Capital Management LLC increased its position 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 worth $141,694,000 after purchasing an additional 241,195 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in ResMed by 15.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 698,905 shares of the medical equipment provider’s stock valued at $120,225,000 after purchasing an additional 95,689 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in ResMed by 19.3% in the second quarter. Dimensional Fund Advisors LP now owns 661,717 shares of the medical equipment provider’s stock valued at $126,670,000 after buying an additional 107,279 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Buying and Selling at ResMed

In other news, CEO Michael J. Farrell sold 14,683 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $192.97, for a total transaction of $2,833,378.51. Following the completion of the sale, the chief executive officer now owns 440,799 shares of the company’s stock, valued at approximately $85,060,983.03. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other ResMed news, CFO Brett Sandercock sold 1,000 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 90,056 shares in the company, valued at $17,502,383.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael J. Farrell sold 14,683 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $192.97, for a total value of $2,833,378.51. Following the completion of the sale, the chief executive officer now directly owns 440,799 shares of the company’s stock, valued at approximately $85,060,983.03. The disclosure for this sale can be found here. Over the last three months, insiders have sold 102,931 shares of company stock valued at $22,644,807. 1.21% of the stock is currently owned by company insiders.

ResMed Trading Up 0.8 %

NYSE:RMD opened at $244.90 on Friday. ResMed Inc. has a 52 week low of $132.24 and a 52 week high of $255.18. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.69 and a current ratio of 2.59. The firm’s fifty day moving average is $226.91 and its 200-day moving average is $209.22. The firm has a market cap of $35.98 billion, a P/E ratio of 37.62, a P/E/G ratio of 2.50 and a beta of 0.69.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $1.22 billion. During the same quarter in the prior year, the firm posted $1.60 earnings per share. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. Equities analysts expect that ResMed Inc. will post 8.92 earnings per share for the current year.

ResMed Increases Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on RMD shares. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a report on Wednesday. StockNews.com cut ResMed from a “buy” rating to a “hold” rating in a report on Friday, August 30th. Citigroup lowered ResMed from a “buy” rating to a “neutral” rating in a research note on Monday, June 24th. KeyCorp upped their price objective on ResMed from $238.00 to $251.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Wolfe Research reiterated an “underperform” rating and set a $180.00 target price on shares of ResMed in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $199.70.

ResMed Company 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.