Swiss National Bank Grows Position in ResMed Inc. $RMD

Swiss National Bank increased its position in shares of ResMed Inc. (NYSE:RMD) by 7.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 428,380 shares of the medical equipment provider’s stock after buying an additional 28,760 shares during the period. Swiss National Bank’s holdings in ResMed were worth $96,163,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new stake in shares of ResMed during the 4th quarter valued at about $25,000. ORG Partners LLC boosted its position in ResMed by 181.6% during the fourth quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock worth $26,000 after purchasing an additional 69 shares in the last quarter. Imprint Wealth LLC purchased a new position in ResMed during the third quarter worth approximately $26,000. WFA of San Diego LLC acquired a new stake in ResMed in the second quarter valued at approximately $26,000. Finally, Sunbelt Securities Inc. acquired a new stake in ResMed in the third quarter valued at approximately $31,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Wall Street Analysts Forecast Growth

RMD has been the topic of a number of recent analyst reports. Citigroup reiterated a “neutral” rating and set a $235.00 target price (down from $270.00) on shares of ResMed in a research report on Sunday, July 12th. Morgan Stanley restated an “equal weight” rating and set a $230.00 price objective (down from $286.00) on shares of ResMed in a research report on Wednesday, June 17th. JPMorgan Chase & Co. began coverage on shares of ResMed in a report on Wednesday, April 15th. They set an “overweight” rating on the stock. KeyCorp dropped their target price on shares of ResMed from $290.00 to $266.00 and set an “overweight” rating on the stock in a research report on Monday, June 22nd. Finally, Royal Bank Of Canada lowered shares of ResMed from an “outperform” rating to a “sector perform” rating and set a $234.00 target price on the stock. in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, ResMed has a consensus rating of “Moderate Buy” and an average price target of $250.00.

ResMed Stock Down 0.2%

ResMed stock opened at $198.55 on Tuesday. The company has a market capitalization of $28.80 billion, a PE ratio of 19.15, a price-to-earnings-growth ratio of 1.19 and a beta of 0.78. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.33 and a current ratio of 3.01. ResMed Inc. has a fifty-two week low of $180.26 and a fifty-two week high of $293.81. The firm has a 50 day moving average price of $199.39 and a 200 day moving average price of $226.21.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.79 by $0.07. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period in the prior year, the firm earned $2.37 earnings per share. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. Research analysts expect that ResMed Inc. will post 11.13 earnings per share for the current year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Thursday, May 14th. ResMed’s payout ratio is 23.14%.

Insider Activity

In other ResMed news, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $218.55, for a total value of $1,090,783.05. Following the sale, the chief executive officer directly owned 466,223 shares in the company, valued at $101,893,036.65. This trade represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 14,973 shares of company stock worth $3,096,067. 0.65% of the stock is currently owned by insiders.

About ResMed

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.