ResMed Inc. (NYSE:RMD) Stake Lifted by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in ResMed Inc. (NYSE:RMD) by 10.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 57,470 shares of the medical equipment provider’s stock after purchasing an additional 5,453 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in ResMed were worth $9,886,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RMD. Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of ResMed in the 3rd quarter worth approximately $26,000. Compass Wealth Management LLC acquired a new position in ResMed in the fourth quarter worth approximately $26,000. International Assets Investment Management LLC bought a new position in shares of ResMed in the third quarter valued at $27,000. EverSource Wealth Advisors LLC lifted its position in shares of ResMed by 224.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider’s stock valued at $27,000 after acquiring an additional 128 shares during the last quarter. Finally, Planned Solutions Inc. bought a new stake in shares of ResMed during the 4th quarter worth $34,000. 54.98% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on RMD shares. UBS Group increased their price target on ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. KeyCorp initiated coverage on ResMed in a research note on Tuesday, February 6th. They set an “overweight” rating and a $227.00 target price on the stock. Royal Bank of Canada increased their price target on shares of ResMed from $181.00 to $182.00 and gave the stock a “sector perform” rating in a research report on Thursday, January 25th. Mizuho restated a “buy” rating and set a $215.00 price target on shares of ResMed in a report on Wednesday, March 27th. Finally, Needham & Company LLC lifted their target price on shares of ResMed from $215.00 to $224.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $199.20.

ResMed Trading Up 0.7 %

ResMed stock opened at $178.85 on Friday. ResMed Inc. has a one year low of $132.24 and a one year high of $243.52. The company’s fifty day moving average price is $186.18 and its two-hundred day moving average price is $170.45. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.11 and a quick ratio of 1.89. The company has a market capitalization of $26.31 billion, a price-to-earnings ratio of 29.56, a PEG ratio of 2.18 and a beta of 0.67.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.81 by $0.07. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. ResMed had a return on equity of 23.86% and a net margin of 19.77%. The firm’s revenue was up 12.5% compared to the same quarter last year. During the same period last year, the business earned $1.66 EPS. On average, analysts forecast that ResMed Inc. will post 7.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Thursday, February 8th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date was Wednesday, February 7th. ResMed’s dividend payout ratio is 31.74%.

Insider Buying and Selling at ResMed

In other news, Director Peter C. Farrell sold 10,935 shares of ResMed stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total value of $1,997,387.10. Following the transaction, the director now directly owns 157,404 shares in the company, valued at $28,751,414.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, General Counsel Michael J. Rider sold 200 shares of ResMed stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $173.25, for a total transaction of $34,650.00. Following the sale, the general counsel now directly owns 6,688 shares of the company’s stock, valued at $1,158,696. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Peter C. Farrell sold 10,935 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value of $1,997,387.10. Following the transaction, the director now owns 157,404 shares in the company, valued at $28,751,414.64. The disclosure for this sale can be found here. Insiders sold 11,216 shares of company stock worth $2,046,617 over the last ninety days. Company insiders own 1.21% of the company’s stock.

ResMed Company 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.