Swiss National Bank Sells 21,500 Shares of ResMed Inc. (NYSE:RMD)

Swiss National Bank lessened its position in ResMed Inc. (NYSE:RMD) by 4.9% during the fourth quarter, Holdings Channel reports. The fund owned 414,600 shares of the medical equipment provider’s stock after selling 21,500 shares during the period. Swiss National Bank’s holdings in ResMed were worth $94,815,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. increased its stake in ResMed by 162.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 61,940 shares of the medical equipment provider’s stock valued at $14,165,000 after acquiring an additional 38,346 shares during the last quarter. Jupiter Asset Management Ltd. bought a new position in ResMed in the fourth quarter valued at $12,599,000. Sequoia Financial Advisors LLC increased its stake in ResMed by 20.7% in the fourth quarter. Sequoia Financial Advisors LLC now owns 2,502 shares of the medical equipment provider’s stock valued at $572,000 after acquiring an additional 429 shares during the last quarter. Wealthfront Advisers LLC increased its stake in ResMed by 447.0% in the fourth quarter. Wealthfront Advisers LLC now owns 42,768 shares of the medical equipment provider’s stock valued at $9,781,000 after acquiring an additional 34,950 shares during the last quarter. Finally, Morton Community Bank increased its stake in ResMed by 1.1% in the fourth quarter. Morton Community Bank now owns 17,304 shares of the medical equipment provider’s stock valued at $3,957,000 after acquiring an additional 180 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on RMD shares. Stifel Nicolaus cut their price target on shares of ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a research report on Wednesday, March 5th. JPMorgan Chase & Co. upped their price target on shares of ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. UBS Group upgraded shares of ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Needham & Company LLC restated a “hold” rating on shares of ResMed in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, ResMed presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.82.

ResMed Price Performance

RMD stock opened at $224.48 on Friday. ResMed Inc. has a 1 year low of $172.19 and a 1 year high of $263.05. The company has a market cap of $32.97 billion, a P/E ratio of 26.50, a PEG ratio of 1.53 and a beta of 0.74. The firm has a 50-day moving average of $236.30 and a 200 day moving average of $239.83. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. On average, sell-side analysts forecast that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is currently 25.03%.

Insider Activity at ResMed

In related news, insider Kaushik Ghoshal sold 9,113 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the completion of the sale, the insider now owns 9,725 shares of the company’s stock, valued at $2,289,265. This trade represents a 48.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total transaction of $484,220.00. Following the sale, the director now directly owns 77,218 shares of the company’s stock, valued at $18,695,249.98. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,940 shares of company stock valued at $9,164,385 over the last 90 days. Corporate insiders own 0.71% of the company’s stock.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company 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 ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.