Keybank National Association OH Raises Stake in ResMed Inc. (NYSE:RMD)

Keybank National Association OH increased its position in ResMed Inc. (NYSE:RMD) by 18.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,886 shares of the medical equipment provider’s stock after purchasing an additional 1,672 shares during the quarter. Keybank National Association OH’s holdings in ResMed were worth $848,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Commerzbank Aktiengesellschaft FI lifted its holdings in shares of ResMed by 0.3% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 5,238 shares of the medical equipment provider’s stock valued at $377,000 after purchasing an additional 14 shares during the last quarter. Morgan Dempsey Capital Management LLC lifted its holdings in shares of ResMed by 2.3% during the 1st quarter. Morgan Dempsey Capital Management LLC now owns 2,189 shares of the medical equipment provider’s stock valued at $158,000 after purchasing an additional 50 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of ResMed by 3.0% during the 1st quarter. Pacer Advisors Inc. now owns 2,699 shares of the medical equipment provider’s stock valued at $194,000 after purchasing an additional 79 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of ResMed by 0.3% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 33,200 shares of the medical equipment provider’s stock valued at $2,392,000 after purchasing an additional 100 shares during the last quarter. Finally, Northwestern Mutual Investment Management Company LLC lifted its holdings in shares of ResMed by 0.5% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 24,412 shares of the medical equipment provider’s stock valued at $1,757,000 after purchasing an additional 118 shares during the last quarter. 60.25% of the stock is currently owned by institutional investors.

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Shares of ResMed Inc. (NYSE:RMD) traded down 0.76% during mid-day trading on Friday, reaching $79.94. The company’s stock had a trading volume of 221,742 shares. The company has a market capitalization of $11.37 billion, a price-to-earnings ratio of 33.31 and a beta of 0.79. The firm’s 50 day moving average price is $75.73 and its 200-day moving average price is $73.30. ResMed Inc. has a 1-year low of $56.59 and a 1-year high of $81.87.

ResMed (NYSE:RMD) last posted its earnings results on Tuesday, August 1st. The medical equipment provider reported $0.77 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.02. ResMed had a net margin of 16.56% and a return on equity of 21.99%. The business had revenue of $556.69 million for the quarter, compared to analyst estimates of $557.68 million. During the same quarter in the prior year, the firm earned $0.74 EPS. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, analysts predict that ResMed Inc. will post $3.03 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 21st. Shareholders of record on Thursday, August 17th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $1.40 dividend on an annualized basis and a yield of 1.74%. This is a positive change from ResMed’s previous quarterly dividend of $0.33. ResMed’s dividend payout ratio is currently 58.09%.

In other ResMed news, Director Richard Sulpizio sold 65,887 shares of the company’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $77.82, for a total transaction of $5,127,326.34. Following the transaction, the director now directly owns 4,429 shares in the company, valued at approximately $344,664.78. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Brett Sandercock sold 1,250 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $77.44, for a total transaction of $96,800.00. Following the transaction, the chief financial officer now owns 60,508 shares in the company, valued at $4,685,739.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 180,259 shares of company stock worth $13,782,318. Insiders own 1.97% of the company’s stock.

RMD has been the subject of a number of research analyst reports. BidaskClub upgraded ResMed from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 17th. Zacks Investment Research upgraded ResMed from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. Needham & Company LLC restated a “sell” rating on shares of ResMed in a research report on Friday, September 8th. Credit Suisse Group cut ResMed from an “outperform” rating to a “neutral” rating in a research report on Wednesday, August 2nd. Finally, Bank of America Corporation cut ResMed from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 2nd. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. ResMed currently has a consensus rating of “Hold” and a consensus price target of $67.86.

About ResMed

ResMed Inc is a holding company. The Company is engaged in the development, manufacturing, distribution and marketing of medical devices and cloud-based software applications that diagnose, treat and manage respiratory disorders, including sleep disordered breathing (SDB), chronic obstructive pulmonary disease (COPD), neuromuscular disease and other diseases.

Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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