ResMed (RMD) Stake Decreased by Security National Bank

Security National Bank decreased its holdings in ResMed (NYSE:RMD) by 8.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,537 shares of the medical equipment provider’s stock after selling 3,165 shares during the period. ResMed accounts for about 2.2% of Security National Bank’s portfolio, making the stock its 14th biggest holding. Security National Bank’s holdings in ResMed were worth $3,302,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Toronto Dominion Bank boosted its stake in shares of ResMed by 13.4% in the fourth quarter. Toronto Dominion Bank now owns 61,142 shares of the medical equipment provider’s stock worth $5,178,000 after acquiring an additional 7,216 shares during the period. California Public Employees Retirement System boosted its stake in shares of ResMed by 8.0% in the fourth quarter. California Public Employees Retirement System now owns 323,758 shares of the medical equipment provider’s stock worth $27,419,000 after acquiring an additional 23,960 shares during the period. Amalgamated Bank boosted its stake in shares of ResMed by 5.1% in the fourth quarter. Amalgamated Bank now owns 30,150 shares of the medical equipment provider’s stock worth $2,553,000 after acquiring an additional 1,476 shares during the period. First Business Financial Services Inc. boosted its stake in shares of ResMed by 25.4% in the fourth quarter. First Business Financial Services Inc. now owns 8,100 shares of the medical equipment provider’s stock worth $686,000 after acquiring an additional 1,643 shares during the period. Finally, Deutsche Bank AG boosted its stake in shares of ResMed by 24.6% in the fourth quarter. Deutsche Bank AG now owns 204,634 shares of the medical equipment provider’s stock worth $17,326,000 after acquiring an additional 40,447 shares during the period. 62.27% of the stock is owned by hedge funds and other institutional investors.

In related news, insider James Hollingshead sold 600 shares of the stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $94.01, for a total transaction of $56,406.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brett Sandercock sold 2,000 shares of the stock in a transaction that occurred on Tuesday, May 15th. The shares were sold at an average price of $101.52, for a total value of $203,040.00. Following the transaction, the chief financial officer now directly owns 69,072 shares of the company’s stock, valued at $7,012,189.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,823 shares of company stock valued at $4,070,426. 1.77% of the stock is owned by corporate insiders.

A number of research firms have recently weighed in on RMD. William Blair reaffirmed an “outperform” rating on shares of ResMed in a research note on Monday, April 16th. Zacks Investment Research raised ResMed from a “hold” rating to a “buy” rating and set a $112.00 price objective for the company in a research note on Friday, February 2nd. UBS lowered ResMed from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 24th. Citigroup lowered ResMed from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 4th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research note on Wednesday, March 7th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $74.83.

Shares of ResMed stock opened at $101.63 on Monday. ResMed has a 12 month low of $67.61 and a 12 month high of $104.78. The company has a market cap of $14.51 billion, a P/E ratio of 30.34 and a beta of 0.91. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.48 and a quick ratio of 2.85.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, April 26th. The medical equipment provider reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.07. ResMed had a return on equity of 23.72% and a net margin of 13.52%. The company had revenue of $591.60 million during the quarter, compared to analyst estimates of $575.75 million. During the same period in the prior year, the company earned $0.71 earnings per share. The firm’s revenue was up 15.1% on a year-over-year basis. research analysts predict that ResMed will post 3.53 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 14th. Investors of record on Thursday, May 10th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date is Wednesday, May 9th. ResMed’s payout ratio is presently 49.65%.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. 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, portable oxygen concentrators, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.

Institutional Ownership by Quarter for ResMed (NYSE:RMD)

Receive News & Ratings for ResMed Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ResMed and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply