J. Safra Sarasin Holding AG Lowers Stock Position in ResMed Inc. (NYSE:RMD)

J. Safra Sarasin Holding AG lessened its position in shares of ResMed Inc. (NYSE:RMD - Free Report) by 12.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,548 shares of the medical equipment provider's stock after selling 1,470 shares during the quarter. J. Safra Sarasin Holding AG's holdings in ResMed were worth $2,412,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. OFI Invest Asset Management acquired a new stake in shares of ResMed during the 4th quarter worth approximately $39,000. BankPlus Trust Department acquired a new stake in ResMed in the 4th quarter valued at $44,000. Rosenberg Matthew Hamilton acquired a new stake in ResMed in the 4th quarter valued at $54,000. SBI Securities Co. Ltd. acquired a new stake in ResMed in the 4th quarter valued at $67,000. Finally, Kentucky Trust Co acquired a new stake in ResMed in the 4th quarter valued at $82,000. Institutional investors and hedge funds own 54.98% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on RMD shares. StockNews.com downgraded ResMed from a "buy" rating to a "hold" rating in a research report on Thursday. Stifel Nicolaus cut their price objective on ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a research report on Wednesday, March 5th. UBS Group cut their price objective on ResMed from $290.00 to $285.00 and set a "buy" rating for the company in a research report on Thursday. Royal Bank of Canada lifted their price objective on ResMed from $247.00 to $255.00 and gave the company a "sector perform" rating in a research report on Thursday. Finally, The Goldman Sachs Group started coverage on ResMed in a research report on Thursday, January 16th. They issued a "buy" rating for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, ResMed presently has a consensus rating of "Moderate Buy" and a consensus price target of $258.83.

ResMed Stock Down 0.1 %

Shares of NYSE RMD traded down $0.31 during trading on Friday, hitting $235.79. 1,193,608 shares of the company traded hands, compared to its average volume of 1,017,319. The business's fifty day moving average is $221.92 and its 200 day moving average is $234.00. 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 $34.63 billion, a price-to-earnings ratio of 27.84, a P/E/G ratio of 1.53 and a beta of 0.75. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share for the quarter, meeting the consensus estimate of $2.37. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. ResMed had a net margin of 25.34% and a return on equity of 26.17%. Equities research analysts predict that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 8th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Thursday, May 8th. ResMed's payout ratio is 23.79%.

Insider Buying and Selling at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of the company's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total value of $484,220.00. Following the transaction, the director now owns 77,218 shares of the company's stock, valued at approximately $18,695,249.98. This represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Kaushik Ghoshal sold 9,113 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $235.40, for a total value of $2,145,200.20. Following the completion of the transaction, the insider now owns 9,725 shares in the company, valued at $2,289,265. This represents a 48.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 49,013 shares of company stock worth $11,298,816 over the last three months. 0.71% of the stock is currently owned by insiders.

ResMed Company 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.