Cullen Frost Bankers Inc. Has $102,000 Stock Holdings in ResMed Inc. (NYSE:RMD)

Cullen Frost Bankers Inc. trimmed its position in ResMed Inc. (NYSE:RMD) by 46.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 535 shares of the medical equipment provider’s stock after selling 463 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in ResMed were worth $102,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RMD. Bank of New York Mellon Corp increased its position in ResMed by 230.3% in the first quarter. Bank of New York Mellon Corp now owns 3,813,119 shares of the medical equipment provider’s stock worth $755,112,000 after purchasing an additional 2,658,709 shares during the period. Norges Bank bought a new position in ResMed during the fourth quarter worth about $233,966,000. Los Angeles Capital Management LLC boosted its holdings in ResMed by 3,599.0% during the first quarter. Los Angeles Capital Management LLC now owns 499,031 shares of the medical equipment provider’s stock worth $98,823,000 after buying an additional 485,540 shares during the last quarter. Greenvale Capital LLP boosted its holdings in ResMed by 198.3% during the fourth quarter. Greenvale Capital LLP now owns 551,901 shares of the medical equipment provider’s stock worth $94,938,000 after buying an additional 366,901 shares during the last quarter. Finally, Nordea Investment Management AB boosted its holdings in ResMed by 1,844.6% during the first quarter. Nordea Investment Management AB now owns 189,652 shares of the medical equipment provider’s stock worth $37,506,000 after buying an additional 179,899 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Royal Bank of Canada raised their target price on ResMed from $204.00 to $206.00 and gave the stock a “sector perform” rating in a report on Friday, August 2nd. KeyCorp raised their target price on ResMed from $238.00 to $251.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Oppenheimer cut ResMed from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. Needham & Company LLC cut ResMed from a “buy” rating to a “hold” rating and set a $236.00 target price on the stock. in a report on Wednesday, September 4th. Finally, StockNews.com cut ResMed from a “buy” rating to a “hold” rating in a report on Friday, August 30th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, ResMed currently has a consensus rating of “Hold” and a consensus price target of $204.70.

Insider Buying and Selling at ResMed

In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $248.38, for a total value of $3,646,963.54. Following the sale, the chief executive officer now owns 464,169 shares in the company, valued at approximately $115,290,296.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $248.38, for a total transaction of $3,646,963.54. Following the transaction, the chief executive officer now owns 464,169 shares of the company’s stock, valued at approximately $115,290,296.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brett Sandercock sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $194.35, for a total value of $194,350.00. Following the transaction, the chief financial officer now directly owns 90,056 shares in the company, valued at approximately $17,502,383.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 97,931 shares of company stock worth $21,382,007. Corporate insiders own 1.21% of the company’s stock.

ResMed Trading Up 1.3 %

NYSE RMD opened at $252.82 on Wednesday. The stock has a market capitalization of $37.15 billion, a price-to-earnings ratio of 38.84, a PEG ratio of 2.44 and a beta of 0.69. The stock’s 50 day moving average price is $218.37 and its two-hundred day moving average price is $205.73. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.69 and a current ratio of 2.59. ResMed Inc. has a 52 week low of $132.24 and a 52 week high of $255.18.

ResMed (NYSE:RMD) last released its earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 EPS for the quarter, beating the consensus estimate of $2.03 by $0.05. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.22 billion. ResMed had a return on equity of 25.00% and a net margin of 21.79%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.60 EPS. As a group, analysts anticipate that ResMed Inc. will post 8.91 earnings per share for the current fiscal year.

ResMed Increases Dividend

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 paid a $0.53 dividend. This is a boost from ResMed’s previous quarterly dividend of $0.48. The ex-dividend date is Thursday, August 15th. This represents a $2.12 annualized dividend and a yield of 0.84%. ResMed’s payout ratio is presently 32.57%.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 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, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.