J. Safra Sarasin Holding AG Boosts Holdings in ResMed Inc. $RMD

J. Safra Sarasin Holding AG grew its stake in shares of ResMed Inc. (NYSE:RMD) by 68.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,359 shares of the medical equipment provider’s stock after acquiring an additional 5,001 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in ResMed were worth $3,383,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of RMD. Entropy Technologies LP lifted its stake in shares of ResMed by 188.7% in the 2nd quarter. Entropy Technologies LP now owns 16,384 shares of the medical equipment provider’s stock valued at $4,227,000 after purchasing an additional 10,708 shares in the last quarter. Quantbot Technologies LP raised its holdings in ResMed by 244.8% in the second quarter. Quantbot Technologies LP now owns 36,355 shares of the medical equipment provider’s stock valued at $9,380,000 after buying an additional 25,810 shares during the period. Nordea Investment Management AB raised its holdings in ResMed by 3.5% in the third quarter. Nordea Investment Management AB now owns 790,872 shares of the medical equipment provider’s stock valued at $217,387,000 after buying an additional 26,629 shares during the period. American Century Companies Inc. lifted its position in ResMed by 0.7% during the second quarter. American Century Companies Inc. now owns 175,901 shares of the medical equipment provider’s stock valued at $45,382,000 after buying an additional 1,183 shares in the last quarter. Finally, Swedbank AB grew its stake in ResMed by 25.4% during the third quarter. Swedbank AB now owns 542,711 shares of the medical equipment provider’s stock worth $148,556,000 after buying an additional 109,760 shares during the period. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Stock Up 0.3%

RMD stock opened at $256.22 on Wednesday. The company has a current ratio of 2.89, a quick ratio of 2.13 and a debt-to-equity ratio of 0.07. The firm has a 50 day simple moving average of $250.37 and a 200-day simple moving average of $263.27. The company has a market capitalization of $37.39 billion, a P/E ratio of 26.23, a PEG ratio of 1.72 and a beta of 0.88. ResMed Inc. has a twelve month low of $199.92 and a twelve month high of $293.81.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.06. The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.33 billion. ResMed had a net margin of 27.35% and a return on equity of 25.45%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the business earned $2.20 EPS. On average, equities research analysts predict that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, November 13th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Thursday, November 13th. ResMed’s payout ratio is 24.56%.

Analysts Set New Price Targets

A number of brokerages have recently commented on RMD. Robert W. Baird reissued a “neutral” rating and issued a $275.00 target price (down previously from $300.00) on shares of ResMed in a research note on Tuesday, December 16th. Weiss Ratings reiterated a “hold (c+)” rating on shares of ResMed in a report on Monday, December 29th. Stifel Nicolaus decreased their target price on ResMed from $270.00 to $260.00 and set a “hold” rating for the company in a research report on Thursday, December 18th. Mizuho dropped their target price on ResMed from $310.00 to $300.00 and set an “outperform” rating on the stock in a report on Friday, October 31st. Finally, Royal Bank Of Canada boosted their price target on ResMed from $300.00 to $303.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $296.09.

Insider Activity

In other news, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $248.46, for a total value of $1,240,063.86. Following the completion of the transaction, the chief executive officer directly owned 466,223 shares of the company’s stock, valued at approximately $115,837,766.58. The trade was a 1.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $248.83, for a total transaction of $497,660.00. Following the sale, the director owned 66,773 shares in the company, valued at approximately $16,615,125.59. This trade represents a 2.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 21,594 shares of company stock worth $5,403,495. 0.65% of the stock is currently owned by insiders.

ResMed Company Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.