Zurcher Kantonalbank Zurich Cantonalbank Raises Holdings in ResMed Inc. (NYSE:RMD)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in ResMed Inc. (NYSE:RMD - Free Report) by 10.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 57,470 shares of the medical equipment provider's stock after acquiring 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.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in ResMed by 13.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,231 shares of the medical equipment provider's stock worth $7,781,000 after acquiring an additional 5,517 shares in the last quarter. Vaughan David Investments LLC IL bought a new position in ResMed in the fourth quarter worth approximately $29,322,000. International Assets Investment Management LLC boosted its holdings in ResMed by 11,960.3% in the fourth quarter. International Assets Investment Management LLC now owns 22,191 shares of the medical equipment provider's stock worth $3,817,000 after acquiring an additional 22,007 shares in the last quarter. Synergy Asset Management LLC boosted its holdings in ResMed by 29.2% in the fourth quarter. Synergy Asset Management LLC now owns 69,383 shares of the medical equipment provider's stock worth $11,935,000 after acquiring an additional 15,663 shares in the last quarter. Finally, Inspire Advisors LLC boosted its holdings in ResMed by 20.2% in the third quarter. Inspire Advisors LLC now owns 1,553 shares of the medical equipment provider's stock worth $230,000 after acquiring an additional 261 shares in the last quarter. Institutional investors own 54.98% of the company's stock.

Analysts Set New Price Targets

RMD has been the subject of several analyst reports. Oppenheimer increased their price objective on ResMed from $185.00 to $205.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 30th. Mizuho reissued a "buy" rating and issued a $215.00 price objective on shares of ResMed in a research note on Wednesday, March 27th. Needham & Company LLC increased their price objective on ResMed from $215.00 to $224.00 and gave the stock a "buy" rating in a research note on Monday, April 1st. KeyCorp initiated coverage on ResMed in a research note on Tuesday, February 6th. They issued an "overweight" rating and a $227.00 price objective for the company. Finally, UBS Group increased their price objective on ResMed from $175.00 to $180.00 and gave the stock a "neutral" rating in a research note on Thursday, January 25th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, ResMed presently has an average rating of "Moderate Buy" and an average target price of $199.20.

ResMed Stock Performance

NYSE:RMD traded up $1.24 during trading hours on Friday, reaching $178.85. The stock had a trading volume of 1,303,527 shares, compared to its average volume of 1,025,071. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.89 and a current ratio of 3.11. The stock has a 50 day simple moving average of $186.18 and a 200 day simple moving average of $170.63. ResMed Inc. has a 12-month low of $132.24 and a 12-month high of $243.52. The stock has a market cap of $26.31 billion, a P/E ratio of 29.56, a price-to-earnings-growth ratio of 2.18 and a beta of 0.67.

ResMed (NYSE:RMD - Get Free Report) last released its earnings results on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.81 by $0.07. ResMed had a return on equity of 23.86% and a net margin of 19.77%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the business posted $1.66 earnings per share. The business's revenue for the quarter was up 12.5% on a year-over-year basis. On average, research analysts forecast that ResMed Inc. will post 7.47 EPS 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 $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend was Wednesday, February 7th. ResMed's dividend payout ratio is currently 31.74%.

Insiders Place Their Bets

In other news, General Counsel Michael J. Rider sold 200 shares of the firm's stock in a transaction on Friday, March 1st. The stock was sold at an average price of $173.25, for a total value of $34,650.00. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 owns 157,404 shares in the company, valued at $28,751,414.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 value of $34,650.00. Following the completion of the transaction, the general counsel now owns 6,688 shares in the company, valued at approximately $1,158,696. The disclosure for this sale can be found here. Insiders sold 11,216 shares of company stock valued at $2,046,617 over the last ninety days. 1.21% 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. 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.