Comerica Bank Sells 808 Shares of ResMed Inc. (RMD)

Comerica Bank decreased its holdings in ResMed Inc. (NYSE:RMD) by 1.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 54,212 shares of the medical equipment provider’s stock after selling 808 shares during the quarter. Comerica Bank’s holdings in ResMed were worth $5,929,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of RMD. Dupont Capital Management Corp purchased a new position in ResMed in the first quarter worth approximately $121,000. Hudson Valley Investment Advisors Inc. ADV lifted its stake in ResMed by 2.2% in the second quarter. Hudson Valley Investment Advisors Inc. ADV now owns 60,974 shares of the medical equipment provider’s stock worth $6,316,000 after acquiring an additional 1,301 shares during the last quarter. Achmea Investment Management B.V. lifted its stake in ResMed by 157.9% in the second quarter. Achmea Investment Management B.V. now owns 34,689 shares of the medical equipment provider’s stock worth $3,591,000 after acquiring an additional 21,241 shares during the last quarter. Norinchukin Bank The lifted its stake in ResMed by 18.3% in the first quarter. Norinchukin Bank The now owns 14,117 shares of the medical equipment provider’s stock worth $1,390,000 after acquiring an additional 2,182 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in ResMed by 19.3% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 87,733 shares of the medical equipment provider’s stock worth $8,639,000 after acquiring an additional 14,209 shares during the last quarter. 62.45% of the stock is owned by institutional investors and hedge funds.

A number of brokerages recently issued reports on RMD. Zacks Investment Research upgraded shares of ResMed from a “sell” rating to a “hold” rating in a research note on Tuesday, July 31st. Goldman Sachs Group began coverage on shares of ResMed in a report on Sunday, July 1st. They set a “buy” rating on the stock. UBS Group cut shares of ResMed from a “buy” rating to a “neutral” rating in a report on Tuesday, April 24th. Finally, William Blair reissued an “outperform” rating on shares of ResMed in a report on Monday, April 16th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $77.33.

In other news, Director Richard Sulpizio sold 28,403 shares of ResMed stock in a transaction on Wednesday, May 30th. The shares were sold at an average price of $102.78, for a total value of $2,919,260.34. Following the transaction, the director now directly owns 35,823 shares of the company’s stock, valued at approximately $3,681,887.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David Pendarvis sold 2,810 shares of ResMed stock in a transaction on Monday, June 4th. The shares were sold at an average price of $103.75, for a total transaction of $291,537.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,823 shares of company stock worth $4,330,718. 1.77% of the stock is owned by corporate insiders.

RMD stock opened at $107.78 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.56 and a current ratio of 2.08. ResMed Inc. has a twelve month low of $72.44 and a twelve month high of $109.97. The company has a market cap of $15.40 billion, a price-to-earnings ratio of 30.53, a P/E/G ratio of 2.78 and a beta of 0.89.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, August 2nd. The medical equipment provider reported $0.95 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.95. ResMed had a net margin of 13.49% and a return on equity of 24.74%. The company had revenue of $623.63 million for the quarter, compared to analysts’ expectations of $622.78 million. During the same quarter last year, the company earned $0.77 earnings per share. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. analysts predict that ResMed Inc. will post 3.66 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 20th. Shareholders of record on Thursday, August 16th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Wednesday, August 15th. This represents a $1.48 dividend on an annualized basis and a yield of 1.37%. This is a boost from ResMed’s previous quarterly dividend of $0.35. ResMed’s dividend payout ratio (DPR) is presently 39.66%.

About ResMed

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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Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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