Swiss National Bank Sells 12,700 Shares of ResMed Inc. (NYSE:RMD)

Swiss National Bank cut its holdings in shares of ResMed Inc. (NYSE:RMD) by 2.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 459,900 shares of the medical equipment provider’s stock after selling 12,700 shares during the period. Swiss National Bank owned 0.31% of ResMed worth $79,112,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in RMD. Cambridge Investment Research Advisors Inc. increased its stake in shares of ResMed by 52.1% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 5,442 shares of the medical equipment provider’s stock valued at $805,000 after buying an additional 1,863 shares during the period. NorthRock Partners LLC grew its stake in ResMed by 46.4% in the third quarter. NorthRock Partners LLC now owns 1,474 shares of the medical equipment provider’s stock worth $218,000 after purchasing an additional 467 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in ResMed by 11.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,017 shares of the medical equipment provider’s stock worth $7,692,000 after purchasing an additional 5,457 shares during the period. Mackenzie Financial Corp grew its stake in ResMed by 12.6% in the third quarter. Mackenzie Financial Corp now owns 151,505 shares of the medical equipment provider’s stock worth $21,906,000 after purchasing an additional 16,966 shares during the period. Finally, IFM Investors Pty Ltd grew its stake in ResMed by 3.2% in the third quarter. IFM Investors Pty Ltd now owns 29,262 shares of the medical equipment provider’s stock worth $4,327,000 after purchasing an additional 914 shares during the period. 54.98% of the stock is owned by hedge funds and other institutional investors.

ResMed Stock Performance

NYSE:RMD opened at $216.98 on Friday. The company has a current ratio of 3.04, a quick ratio of 1.97 and a debt-to-equity ratio of 0.22. ResMed Inc. has a 12-month low of $132.24 and a 12-month high of $237.26. The stock has a 50-day moving average price of $190.52 and a 200 day moving average price of $174.76. The stock has a market capitalization of $31.88 billion, a P/E ratio of 33.33, a P/E/G ratio of 2.68 and a beta of 0.64.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.22. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.17 billion. ResMed had a return on equity of 24.43% and a net margin of 20.91%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.68 EPS. Equities research analysts forecast that ResMed Inc. will post 7.59 EPS for the current fiscal year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 9th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Wednesday, May 8th. ResMed’s payout ratio is 29.49%.

Wall Street Analyst Weigh In

Several research firms have commented on RMD. Royal Bank of Canada boosted their target price on ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a report on Friday, April 26th. KeyCorp upped their price target on ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a report on Friday, April 26th. JPMorgan Chase & Co. upped their price target on ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a report on Tuesday, January 9th. UBS Group upped their price target on ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. Finally, Oppenheimer lowered their price target on ResMed from $205.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $202.80.

Insider Activity

In related news, Director Peter C. Farrell sold 10,935 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the completion of the sale, the director now directly owns 157,404 shares of the company’s stock, valued at approximately $28,751,414.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other ResMed news, Director Karen Drexler sold 425 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $214.92, for a total transaction of $91,341.00. Following the transaction, the director now directly owns 8,446 shares in the company, valued at approximately $1,815,214.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter C. Farrell sold 10,935 shares of the firm’s stock in a transaction on 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 owns 157,404 shares in the company, valued at $28,751,414.64. The disclosure for this sale can be found here. Insiders sold 11,641 shares of company stock valued at $2,137,958 in the last ninety days. Insiders own 1.21% 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. 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.