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J. Safra Sarasin Holding AG Has $1.90 Million Position in ResMed Inc. $RMD

ResMed logo with Medical background

Key Points

  • J. Safra Sarasin Holding AG has reduced its stake in ResMed Inc. by 26.2% in the second quarter, now holding 7,358 shares valued at approximately $1.90 million.
  • ResMed recently reported quarterly earnings of $2.55 per share, exceeding analysts' expectations, and marked a 10.2% increase in revenue year-over-year.
  • The company announced a dividend increase to $0.60 per share from the previous $0.53, representing an annual yield of 0.9%.
  • Five stocks we like better than ResMed.

J. Safra Sarasin Holding AG decreased its position in ResMed Inc. (NYSE:RMD - Free Report) by 26.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,358 shares of the medical equipment provider's stock after selling 2,608 shares during the quarter. J. Safra Sarasin Holding AG's holdings in ResMed were worth $1,898,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in ResMed by 1,168.5% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 590,895 shares of the medical equipment provider's stock valued at $132,272,000 after buying an additional 544,311 shares in the last quarter. Allianz Asset Management GmbH grew its stake in shares of ResMed by 334.0% in the first quarter. Allianz Asset Management GmbH now owns 455,124 shares of the medical equipment provider's stock valued at $101,880,000 after acquiring an additional 350,245 shares in the last quarter. Swedbank AB grew its stake in shares of ResMed by 445.1% in the first quarter. Swedbank AB now owns 397,319 shares of the medical equipment provider's stock valued at $88,940,000 after acquiring an additional 324,428 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of ResMed by 1.8% in the first quarter. Vanguard Group Inc. now owns 18,493,702 shares of the medical equipment provider's stock valued at $4,139,815,000 after acquiring an additional 320,240 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of ResMed during the 1st quarter worth approximately $69,492,000. Institutional investors and hedge funds own 54.98% of the company's stock.

ResMed Stock Performance

NYSE:RMD opened at $278.48 on Friday. The stock's 50-day simple moving average is $278.16 and its 200 day simple moving average is $253.46. The firm has a market capitalization of $40.77 billion, a PE ratio of 29.28, a price-to-earnings-growth ratio of 1.86 and a beta of 0.83. The company has a quick ratio of 2.53, a current ratio of 3.44 and a debt-to-equity ratio of 0.11. ResMed Inc. has a twelve month low of $199.92 and a twelve month high of $293.81.

ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, beating analysts' consensus estimates of $2.47 by $0.08. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period last year, the company posted $2.08 EPS. The firm's quarterly revenue was up 10.2% compared to the same quarter last year. On average, analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, August 14th were given a $0.60 dividend. This is an increase from ResMed's previous quarterly dividend of $0.53. This represents a $2.40 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Thursday, August 14th. ResMed's dividend payout ratio (DPR) is 25.24%.

Insider Buying and Selling at ResMed

In other ResMed news, General Counsel Michael J. Rider sold 100 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $274.36, for a total value of $27,436.00. Following the sale, the general counsel owned 11,327 shares in the company, valued at $3,107,675.72. This trade represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director John Hernandez sold 2,575 shares of the firm's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $287.10, for a total value of $739,282.50. Following the sale, the director directly owned 4,045 shares in the company, valued at approximately $1,161,319.50. This trade represents a 38.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,743 shares of company stock worth $5,075,239 over the last quarter. Corporate insiders own 0.71% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on RMD shares. William Blair upgraded shares of ResMed to a "strong-buy" rating in a research report on Friday, August 1st. Stifel Nicolaus increased their price target on ResMed from $240.00 to $270.00 and gave the stock a "hold" rating in a research report on Friday, August 1st. UBS Group raised ResMed to a "strong-buy" rating in a report on Tuesday, September 16th. CLSA upgraded shares of ResMed from a "hold" rating to an "outperform" rating in a research note on Tuesday, September 2nd. Finally, Piper Sandler increased their price objective on shares of ResMed from $248.00 to $270.00 and gave the stock a "neutral" rating in a research note on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, ResMed currently has a consensus rating of "Moderate Buy" and a consensus price target of $294.20.

Read Our Latest Analysis on ResMed

ResMed Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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