Amalgamated Bank Purchases 1,799 Shares of ResMed Inc. (NYSE:RMD)

Amalgamated Bank grew its holdings in ResMed Inc. (NYSE:RMD) by 6.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 31,154 shares of the medical equipment provider’s stock after purchasing an additional 1,799 shares during the quarter. Amalgamated Bank’s holdings in ResMed were worth $7,125,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in ResMed by 10.9% in the third quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock valued at $939,114,000 after buying an additional 380,383 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of ResMed by 726.3% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,801 shares of the medical equipment provider’s stock valued at $69,281,000 after purchasing an additional 249,454 shares during the period. Nordea Investment Management AB boosted its position in shares of ResMed by 92.7% in the 4th quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider’s stock worth $103,214,000 after purchasing an additional 215,561 shares during the last quarter. State Street Corp boosted its position in shares of ResMed by 1.9% in the 3rd quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider’s stock worth $1,528,590,000 after purchasing an additional 116,918 shares during the last quarter. Finally, AustralianSuper Pty Ltd grew its stake in shares of ResMed by 3,266.5% during the fourth quarter. AustralianSuper Pty Ltd now owns 103,923 shares of the medical equipment provider’s stock worth $23,766,000 after purchasing an additional 100,836 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Trading Down 0.7 %

RMD opened at $234.46 on Thursday. The firm’s fifty day simple moving average is $237.15 and its 200 day simple moving average is $239.62. The stock has a market capitalization of $34.43 billion, a P/E ratio of 27.68, a P/E/G ratio of 1.53 and a beta of 0.70. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 12 month low of $170.56 and a 12 month high of $263.05.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. As a group, research analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 0.90%. ResMed’s dividend payout ratio is currently 25.03%.

Analyst Ratings Changes

Several research firms have weighed in on RMD. Piper Sandler increased their target price on ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. The Goldman Sachs Group began coverage on shares of ResMed in a research report on Thursday, January 16th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. boosted their price objective on shares of ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Stifel Nicolaus began coverage on shares of ResMed in a report on Friday, December 13th. They issued a “hold” rating and a $250.00 target price on the stock. Finally, Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, ResMed currently has an average rating of “Moderate Buy” and an average price target of $244.73.

Insider Activity

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction on Friday, February 7th. The shares were sold at an average price of $236.77, for a total value of $1,896,290.93. Following the sale, the chief executive officer now directly owns 455,472 shares in the company, valued at approximately $107,842,105.44. The trade was a 1.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total transaction of $484,220.00. Following the sale, the director now directly owns 77,218 shares in the company, valued at $18,695,249.98. This trade represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,147 shares of company stock worth $2,905,745 over the last ninety days. Insiders own 0.71% of the company’s stock.

ResMed Company 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.