Amalgamated Bank Sells 880 Shares of ResMed Inc. (NYSE:RMD)

Amalgamated Bank reduced its stake in shares of ResMed Inc. (NYSE:RMD) by 2.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 29,355 shares of the medical equipment provider’s stock after selling 880 shares during the quarter. Amalgamated Bank’s holdings in ResMed were worth $7,166,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of RMD. Bank of New York Mellon Corp lifted its position 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 worth $1,105,022,000 after buying an additional 1,959,642 shares during the last quarter. Los Angeles Capital Management LLC lifted its position in shares of 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 during the period. Greenvale Capital LLP increased its position in ResMed by 61.1% in the 2nd quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock valued at $138,780,000 after buying an additional 275,000 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of ResMed by 19.3% during 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 during the last quarter. Finally, Tandem Investment Advisors Inc. increased its position in shares of ResMed by 3.0% during the 2nd quarter. Tandem Investment Advisors Inc. now owns 501,391 shares of the medical equipment provider’s stock valued at $95,976,000 after purchasing an additional 14,590 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $248.38, for a total value of $3,646,963.54. Following the sale, the chief executive officer now directly owns 464,169 shares of the company’s stock, valued at $115,290,296.22. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, General Counsel Michael J. Rider sold 882 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $231.00, for a total value of $203,742.00. Following the transaction, the general counsel now directly owns 10,512 shares of the company’s stock, valued at approximately $2,428,272. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $248.38, for a total value of $3,646,963.54. Following the completion of the transaction, the chief executive officer now owns 464,169 shares of the company’s stock, valued at $115,290,296.22. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,260 shares of company stock valued at $14,390,487 over the last quarter. Corporate insiders own 0.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on RMD shares. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Wolfe Research reaffirmed an “underperform” rating and issued a $180.00 target price on shares of ResMed in a research note on Wednesday, September 18th. Robert W. Baird increased their price target on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Baird R W upgraded shares of ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, Royal Bank of Canada upped their price objective on shares of ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $225.70.

ResMed Stock Performance

Shares of RMD opened at $245.63 on Thursday. The company has a 50-day simple moving average of $243.12 and a two-hundred day simple moving average of $221.39. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. The firm has a market capitalization of $36.06 billion, a PE ratio of 32.53, a price-to-earnings-growth ratio of 1.78 and a beta of 0.69. ResMed Inc. has a one year low of $140.81 and a one year high of $260.49.

ResMed (NYSE:RMD) last released its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.17. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.64 EPS. On average, analysts anticipate that ResMed Inc. will post 9.22 EPS for the current fiscal year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a yield of 0.86%. ResMed’s dividend payout ratio (DPR) is currently 28.08%.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company 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 ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.