J. Safra Sarasin Holding AG Has $2.41 Million Stock Position in ResMed Inc. (NYSE:RMD)

J. Safra Sarasin Holding AG cut its position in ResMed Inc. (NYSE:RMD - Free Report) by 12.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of ResMed by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 18,173,462 shares of the medical equipment provider's stock worth $4,156,089,000 after purchasing an additional 160,590 shares during the period. Geode Capital Management LLC lifted its holdings in shares of ResMed by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 3,944,084 shares of the medical equipment provider's stock worth $899,860,000 after buying an additional 85,270 shares during the last quarter. Invesco Ltd. boosted its position in shares of ResMed by 32.2% in the fourth quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider's stock valued at $531,706,000 after acquiring an additional 566,046 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of ResMed by 3.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 957,020 shares of the medical equipment provider's stock worth $218,861,000 after acquiring an additional 32,973 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in ResMed by 9.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 742,412 shares of the medical equipment provider's stock worth $169,789,000 after acquiring an additional 65,999 shares during the period. Institutional investors own 54.98% of the company's stock.

Wall Street Analyst Weigh In

RMD has been the topic of several research reports. Mizuho set a $265.00 price objective on shares of ResMed in a report on Wednesday, April 16th. UBS Group raised ResMed from a "hold" rating to a "strong-buy" rating in a report on Friday, January 31st. Citigroup upgraded ResMed from a "neutral" rating to a "buy" rating in a research report on Wednesday, March 5th. StockNews.com upgraded shares of ResMed from a "hold" rating to a "buy" rating in a research note on Tuesday, April 15th. Finally, Piper Sandler increased their price objective on shares of ResMed from $252.00 to $260.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $250.08.

ResMed Stock Down 0.9 %

NYSE RMD opened at $211.04 on Tuesday. The stock's 50 day simple moving average is $222.61 and its 200 day simple moving average is $234.30. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. ResMed Inc. has a one year low of $178.49 and a one year high of $263.05. The firm has a market cap of $30.99 billion, a PE ratio of 24.92, a price-to-earnings-growth ratio of 1.53 and a beta of 0.75.

ResMed (NYSE:RMD - Get Free Report) last announced its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. As a group, sell-side analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were issued a dividend of $0.53 per share. The ex-dividend date was Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 1.00%. ResMed's dividend payout ratio is currently 25.03%.

Insider Activity

In other news, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $209.85, for a total value of $1,680,688.65. Following the transaction, the chief executive officer now owns 455,472 shares of the company's stock, valued at $95,580,799.20. This represents a 1.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kaushik Ghoshal sold 9,113 shares of ResMed stock in a transaction on 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 sale, the insider now directly owns 9,725 shares of the company's stock, valued at approximately $2,289,265. This trade represents a 48.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 49,013 shares of company stock valued at $11,298,816. 0.71% of the stock is currently owned by insiders.

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.

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