Tyers Asset Management LLC Trims Holdings in ResMed Inc. (NYSE:RMD)
Tyers Asset Management LLC lessened its holdings in shares of ResMed Inc. (NYSE:RMD) by 16.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,862 shares of the medical equipment provider’s stock after selling 924 shares during the period. Tyers Asset Management LLC’s holdings in ResMed were worth $593,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in RMD. Westside Investment Management Inc. purchased a new position in ResMed during the 2nd quarter valued at about $26,000. Steward Partners Investment Advisory LLC purchased a new position in ResMed during the 2nd quarter valued at about $40,000. RPg Family Wealth Advisory LLC purchased a new position in ResMed during the 1st quarter valued at about $50,000. SRS Capital Advisors Inc. purchased a new position in ResMed during the 2nd quarter valued at about $71,000. Finally, Van ECK Associates Corp purchased a new position in ResMed during the 2nd quarter valued at about $73,000. Institutional investors own 66.94% of the company’s stock.
Shares of RMD stock traded down $1.52 during midday trading on Friday, reaching $132.44. 14,185 shares of the stock were exchanged, compared to its average volume of 432,540. ResMed Inc. has a 1 year low of $90.64 and a 1 year high of $141.25. The company’s 50 day moving average is $133.39 and its two-hundred day moving average is $116.26. The company has a current ratio of 2.06, a quick ratio of 1.43 and a debt-to-equity ratio of 0.61. The firm has a market cap of $19.20 billion, a PE ratio of 36.41, a price-to-earnings-growth ratio of 3.23 and a beta of 0.44.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, August 15th will be issued a dividend of $0.39 per share. This is an increase from ResMed’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.18%. ResMed’s dividend payout ratio is 42.86%.
In other news, insider Richard Mchale sold 12,306 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $127.06, for a total value of $1,563,600.36. Following the sale, the insider now directly owns 11,215 shares of the company’s stock, valued at approximately $1,424,977.90. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Brett Sandercock sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $139.21, for a total value of $417,630.00. Following the completion of the sale, the chief financial officer now directly owns 76,145 shares in the company, valued at $10,600,145.45. The disclosure for this sale can be found here. Insiders have sold a total of 74,324 shares of company stock worth $9,606,306 in the last quarter. Company insiders own 1.24% of the company’s stock.
A number of brokerages recently issued reports on RMD. Goldman Sachs Group upgraded ResMed from a “neutral” rating to a “buy” rating in a report on Monday, July 29th. UBS Group upgraded ResMed from a “neutral” rating to a “buy” rating and upped their target price for the stock from $122.00 to $140.00 in a report on Monday, July 29th. Finally, Zacks Investment Research upgraded ResMed from a “hold” rating to a “buy” rating and set a $131.00 target price on the stock in a report on Monday, July 8th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $121.50.
ResMed Company 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.
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