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

Amalgamated Bank lessened its stake in ResMed Inc. (NYSE:RMD) by 2.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,355 shares of the medical equipment provider’s stock after selling 880 shares during the period. Amalgamated Bank’s holdings in ResMed were worth $7,166,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. QRG Capital Management Inc. grew its holdings in shares of ResMed by 426.5% in the third quarter. QRG Capital Management Inc. now owns 6,797 shares of the medical equipment provider’s stock worth $1,659,000 after acquiring an additional 5,506 shares during the period. Asset Management One Co. Ltd. grew its stake in shares of ResMed by 5.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 58,860 shares of the medical equipment provider’s stock valued at $14,369,000 after purchasing an additional 2,878 shares during the period. National Pension Service lifted its stake in shares of ResMed by 5.0% in the 3rd quarter. National Pension Service now owns 227,655 shares of the medical equipment provider’s stock worth $55,575,000 after purchasing an additional 10,880 shares during the period. Angeles Wealth Management LLC bought a new stake in ResMed during the third quarter valued at approximately $274,000. Finally, Van ECK Associates Corp grew its position in ResMed by 2.9% during the third quarter. Van ECK Associates Corp now owns 39,334 shares of the medical equipment provider’s stock valued at $9,338,000 after buying an additional 1,121 shares during the period. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Kaushik Ghoshal sold 5,000 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $252.56, for a total transaction of $1,262,800.00. Following the completion of the transaction, the insider now owns 21,788 shares in the company, valued at $5,502,777.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Brett Sandercock sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $233.47, for a total transaction of $233,470.00. Following the transaction, the chief financial officer now directly owns 95,812 shares of the company’s stock, valued at approximately $22,369,227.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Kaushik Ghoshal sold 5,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 21,788 shares of the company’s stock, valued at $5,502,777.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 60,260 shares of company stock valued at $14,390,487. 0.71% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on RMD shares. Robert W. Baird lifted their price target on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research report on Friday, October 25th. Bank of America lifted their price objective on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, Baird R W raised shares of ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $225.70.

ResMed Stock Performance

NYSE RMD opened at $245.63 on Thursday. The business’s 50 day moving average price is $243.12 and its 200-day moving average price is $221.39. ResMed Inc. has a fifty-two week low of $140.81 and a fifty-two week high of $260.49. The company has a market cap of $36.06 billion, a P/E ratio of 32.53, a P/E/G ratio of 1.78 and a beta of 0.69. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the previous year, the business posted $1.64 earnings per share. The business’s revenue was up 11.1% compared to the same quarter last year. Sell-side analysts predict that ResMed Inc. will post 9.22 earnings per share for the current year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders 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 annualized dividend and a dividend yield of 0.86%. ResMed’s dividend payout ratio (DPR) is presently 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.