Amalgamated Bank Has $6.18 Million Position in ResMed Inc. (NYSE:RMD)

Amalgamated Bank cut its stake in ResMed Inc. (NYSE:RMD) by 7.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,945 shares of the medical equipment provider’s stock after selling 2,712 shares during the quarter. Amalgamated Bank’s holdings in ResMed were worth $6,183,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC increased its position in ResMed by 224.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 128 shares during the last quarter. Operose Advisors LLC bought a new position in ResMed during the third quarter valued at approximately $32,000. Planned Solutions Inc. acquired a new stake in ResMed in the fourth quarter valued at approximately $34,000. MV Capital Management Inc. grew its position in ResMed by 39.0% in the fourth quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock worth $37,000 after acquiring an additional 60 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in shares of ResMed during the 4th quarter worth $45,000. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at ResMed

In related news, Director Karen Drexler sold 425 shares of ResMed stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $214.92, for a total transaction of $91,341.00. Following the completion of the transaction, the director now directly owns 8,446 shares of the company’s stock, valued at approximately $1,815,214.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, General Counsel Michael J. Rider sold 200 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $173.25, for a total transaction of $34,650.00. Following the transaction, the general counsel now owns 6,688 shares in the company, valued at approximately $1,158,696. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Karen Drexler sold 425 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $214.92, for a total transaction of $91,341.00. Following the completion of the sale, the director now owns 8,446 shares of the company’s stock, valued at approximately $1,815,214.32. The disclosure for this sale can be found here. Insiders have sold 11,641 shares of company stock worth $2,137,958 over the last three months. Company insiders own 1.21% of the company’s stock.

ResMed Trading Down 0.5 %

Shares of RMD stock opened at $216.98 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.97 and a current ratio of 3.04. The firm has a fifty day moving average of $190.52 and a 200-day moving average of $174.99. ResMed Inc. has a 52-week low of $132.24 and a 52-week high of $237.26. The stock has a market cap of $31.88 billion, a price-to-earnings ratio of 33.33, a P/E/G ratio of 2.68 and a beta of 0.64.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.22. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. ResMed had a net margin of 20.91% and a return on equity of 24.43%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.68 earnings per share. On average, equities research analysts forecast that ResMed Inc. will post 7.59 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 9th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 0.88%. The ex-dividend date is Wednesday, May 8th. ResMed’s dividend payout ratio is 29.49%.

Analyst Ratings Changes

A number of brokerages recently issued reports on RMD. Oppenheimer decreased their price objective on shares of ResMed from $205.00 to $200.00 and set an “outperform” rating for the company in a report on Friday, April 26th. UBS Group boosted their target price on ResMed from $175.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. Royal Bank of Canada upped their target price on ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a research report on Friday, April 26th. JPMorgan Chase & Co. lifted their price target on shares of ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a research report on Tuesday, January 9th. Finally, Mizuho reaffirmed a “buy” rating and set a $215.00 price objective on shares of ResMed in a report on Wednesday, March 27th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $202.80.

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.