Swiss National Bank Acquires 600 Shares of ResMed Inc. (NYSE:RMD)

Swiss National Bank boosted its holdings in shares of ResMed Inc. (NYSE:RMD) by 0.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 436,100 shares of the medical equipment provider’s stock after purchasing an additional 600 shares during the period. Swiss National Bank owned about 0.30% of ResMed worth $106,461,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans lifted its stake in ResMed by 12.2% during the third quarter. Thrivent Financial for Lutherans now owns 6,952 shares of the medical equipment provider’s stock worth $1,697,000 after purchasing an additional 755 shares during the last quarter. Claro Advisors LLC increased its holdings in shares of ResMed by 8.3% during the third quarter. Claro Advisors LLC now owns 4,153 shares of the medical equipment provider’s stock worth $1,014,000 after buying an additional 317 shares in the last quarter. Natixis Advisors LLC increased its holdings in shares of ResMed by 31.9% during the third quarter. Natixis Advisors LLC now owns 51,498 shares of the medical equipment provider’s stock worth $12,572,000 after buying an additional 12,445 shares in the last quarter. Archer Investment Corp increased its holdings in shares of ResMed by 5,159.1% during the third quarter. Archer Investment Corp now owns 1,157 shares of the medical equipment provider’s stock worth $282,000 after buying an additional 1,135 shares in the last quarter. Finally, Empowered Funds LLC increased its holdings in shares of ResMed by 284.3% during the third quarter. Empowered Funds LLC now owns 8,208 shares of the medical equipment provider’s stock worth $2,004,000 after buying an additional 6,072 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors.

Insider Transactions at ResMed

In related news, Director Witte Jan De sold 796 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total value of $198,052.76. Following the transaction, the director now owns 6,723 shares of the company’s stock, valued at approximately $1,672,749.63. This trade represents a 10.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kaushik Ghoshal sold 5,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $252.56, for a total transaction of $1,262,800.00. Following the completion of the transaction, the insider now directly owns 21,788 shares in the company, valued at approximately $5,502,777.28. The trade was a 18.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 62,174 shares of company stock valued at $14,882,278 in the last 90 days. 0.71% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

RMD has been the subject of several research analyst reports. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. KeyCorp upped their price target on shares of ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Royal Bank of Canada upped their price target on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Needham & Company LLC restated a “hold” rating on shares of ResMed in a report on Friday, October 25th. Finally, Bank of America increased their price objective on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, ResMed currently has an average rating of “Moderate Buy” and a consensus price target of $225.70.

ResMed Stock Performance

Shares of RMD opened at $239.42 on Tuesday. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $35.15 billion, a P/E ratio of 31.71, a price-to-earnings-growth ratio of 1.71 and a beta of 0.69. The firm’s fifty day simple moving average is $242.62 and its two-hundred day simple moving average is $223.82. ResMed Inc. has a 12 month low of $148.03 and a 12 month high of $260.49.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.17. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.64 earnings per share. As a group, analysts predict that ResMed Inc. will post 9.28 EPS for the current year.

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.89%. ResMed’s dividend payout ratio (DPR) is presently 28.08%.

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.