Swiss National Bank Decreases Position in ResMed Inc. (NYSE:RMD)

Swiss National Bank decreased its position in shares of ResMed Inc. (NYSE:RMD - Free Report) by 2.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 459,900 shares of the medical equipment provider's stock after selling 12,700 shares during the quarter. Swiss National Bank owned 0.31% of ResMed worth $79,112,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Morgan Stanley increased its stake in shares of ResMed by 102.4% during the 3rd quarter. Morgan Stanley now owns 2,329,618 shares of the medical equipment provider's stock worth $344,481,000 after purchasing an additional 1,178,547 shares in the last quarter. LGT Capital Partners LTD. acquired a new stake in ResMed during the 4th quarter valued at $117,621,000. abrdn plc increased its position in ResMed by 79.2% during the third quarter. abrdn plc now owns 901,485 shares of the medical equipment provider's stock worth $133,303,000 after buying an additional 398,302 shares in the last quarter. Hsbc Holdings PLC raised its holdings in shares of ResMed by 109.9% in the third quarter. Hsbc Holdings PLC now owns 490,214 shares of the medical equipment provider's stock worth $72,785,000 after acquiring an additional 256,624 shares during the last quarter. Finally, UBS Group AG lifted its position in shares of ResMed by 109.3% in the third quarter. UBS Group AG now owns 457,717 shares of the medical equipment provider's stock valued at $67,683,000 after acquiring an additional 239,001 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company's stock.

ResMed Trading Down 0.5 %

RMD stock traded down $1.17 during midday trading on Friday, reaching $216.98. 655,018 shares of the company's stock traded hands, compared to its average volume of 1,339,844. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.04 and a quick ratio of 1.97. ResMed Inc. has a fifty-two week low of $132.24 and a fifty-two week high of $237.26. The business has a 50-day moving average price of $190.52 and a two-hundred day moving average price of $174.99. The company has a market capitalization of $31.88 billion, a P/E ratio of 33.33, a PEG ratio of 2.68 and a beta of 0.64.

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

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 9th will be issued 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 dividend payout ratio (DPR) is presently 29.49%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RMD. JPMorgan Chase & Co. raised their target price on shares of ResMed from $160.00 to $195.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 9th. Royal Bank of Canada lifted their price objective on ResMed from $187.00 to $200.00 and gave the company a "sector perform" rating in a research report on Friday, April 26th. Needham & Company LLC raised their price target on ResMed from $224.00 to $236.00 and gave the stock a "buy" rating in a research note on Friday, April 26th. KeyCorp lifted 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. Finally, UBS Group increased their price objective on shares of ResMed from $175.00 to $180.00 and gave the stock a "neutral" rating in a report on Thursday, January 25th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, ResMed has a consensus rating of "Moderate Buy" and a consensus target price of $202.80.

Insider Activity at ResMed

In other news, General Counsel Michael J. Rider sold 200 shares of the business's stock in a transaction on Friday, March 1st. The shares were sold at an average price of $173.25, for a total transaction of $34,650.00. Following the completion of the transaction, the general counsel now owns 6,688 shares of the company's stock, valued at $1,158,696. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, General Counsel Michael J. Rider sold 200 shares of the business's stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $173.25, for a total transaction of $34,650.00. Following the completion of the transaction, the general counsel now directly owns 6,688 shares in the company, valued at $1,158,696. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Peter C. Farrell sold 10,935 shares of the business'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 of the company's stock, valued at approximately $28,751,414.64. The disclosure for this sale can be found here. Insiders sold a total of 11,641 shares of company stock valued at $2,137,958 in the last quarter. 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.