Zurich Insurance Group Ltd FI Has $77.30 Million Stock Holdings in ResMed Inc. (NYSE:RMD)

Zurich Insurance Group Ltd FI lowered its position in shares of ResMed Inc. (NYSE:RMD - Free Report) by 11.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 338,029 shares of the medical equipment provider's stock after selling 44,043 shares during the quarter. Zurich Insurance Group Ltd FI owned 0.23% of ResMed worth $77,304,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Howard Capital Management Inc. boosted its position in ResMed by 5.3% during the 4th quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider's stock worth $206,000 after acquiring an additional 45 shares during the last quarter. Faithward Advisors LLC boosted its position in ResMed by 4.3% during the 4th quarter. Faithward Advisors LLC now owns 1,279 shares of the medical equipment provider's stock worth $292,000 after acquiring an additional 53 shares during the last quarter. Meiji Yasuda Life Insurance Co boosted its position in ResMed by 4.6% during the 4th quarter. Meiji Yasuda Life Insurance Co now owns 1,356 shares of the medical equipment provider's stock worth $310,000 after acquiring an additional 60 shares during the last quarter. HighPoint Advisor Group LLC boosted its position in ResMed by 2.6% during the 4th quarter. HighPoint Advisor Group LLC now owns 2,570 shares of the medical equipment provider's stock worth $610,000 after acquiring an additional 64 shares during the last quarter. Finally, Commerce Bank boosted its position in ResMed by 1.1% during the 4th quarter. Commerce Bank now owns 6,448 shares of the medical equipment provider's stock worth $1,475,000 after acquiring an additional 73 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on RMD shares. Piper Sandler reduced their price target on ResMed from $260.00 to $248.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Citigroup upgraded ResMed from a "neutral" rating to a "buy" rating in a research note on Wednesday, March 5th. JPMorgan Chase & Co. increased their price objective on ResMed from $286.00 to $290.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. UBS Group dropped their target price on shares of ResMed from $290.00 to $285.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Finally, KeyCorp set a $274.00 price target on shares of ResMed in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, ResMed currently has a consensus rating of "Moderate Buy" and an average price target of $258.83.

ResMed Stock Up 0.5%

RMD opened at $252.96 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The company's 50-day moving average is $226.00 and its 200 day moving average is $234.17. ResMed Inc. has a fifty-two week low of $179.42 and a fifty-two week high of $263.05. The firm has a market capitalization of $37.09 billion, a P/E ratio of 29.87, a PEG ratio of 1.53 and a beta of 0.78.

ResMed (NYSE:RMD - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share for the quarter, beating analysts' consensus estimates of $2.36 by $0.01. ResMed had a net margin of 25.34% and a return on equity of 26.17%. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the firm earned $2.13 earnings per share. The firm's revenue was up 7.9% on a year-over-year basis. Research analysts expect that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 8th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend is Thursday, May 8th. ResMed's dividend payout ratio is 23.79%.

Insiders Place Their Bets

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $209.85, for a total value of $1,680,688.65. Following the sale, the chief executive officer now owns 455,472 shares of the company's stock, valued at approximately $95,580,799.20. The trade was a 1.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $227.71, for a total transaction of $455,420.00. Following the completion of the sale, the director now directly owns 75,218 shares in the company, valued at approximately $17,127,890.78. This represents a 2.59% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,949 shares of company stock valued at $11,335,320. Company insiders own 0.71% 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. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.