ResMed Inc. (NYSE:RMD) Shares Sold by Swiss National Bank

Swiss National Bank reduced its holdings in ResMed Inc. (NYSE:RMD - Free Report) by 4.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 414,600 shares of the medical equipment provider's stock after selling 21,500 shares during the quarter. Swiss National Bank owned about 0.28% of ResMed worth $94,815,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of RMD. True Wealth Design LLC boosted its position in shares of ResMed by 2,200.0% during the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider's stock worth $28,000 after purchasing an additional 110 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in ResMed during the third quarter worth about $34,000. OFI Invest Asset Management acquired a new position in ResMed during the fourth quarter worth about $39,000. BankPlus Trust Department purchased a new position in ResMed in the fourth quarter valued at about $44,000. Finally, Rosenberg Matthew Hamilton acquired a new stake in shares of ResMed during the 4th quarter valued at approximately $54,000. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on RMD shares. KeyCorp raised their price objective on ResMed from $266.00 to $280.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. StockNews.com raised ResMed from a "hold" rating to a "buy" rating in a research note on Saturday. JPMorgan Chase & Co. increased their price objective on shares of ResMed from $270.00 to $286.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Citigroup upgraded shares of ResMed from a "neutral" rating to a "buy" rating in a report on Wednesday, March 5th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of ResMed in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $246.83.

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ResMed Trading Up 0.8 %

RMD traded up $1.82 during midday trading on Wednesday, hitting $222.07. The company's stock had a trading volume of 801,747 shares, compared to its average volume of 962,923. The firm has a market cap of $32.61 billion, a P/E ratio of 26.22, a PEG ratio of 1.53 and a beta of 0.74. ResMed Inc. has a 52-week low of $172.19 and a 52-week high of $263.05. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $235.76 and a two-hundred day moving average price of $239.49.

ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. On average, research analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 0.95%. ResMed's dividend payout ratio is currently 25.03%.

Insider Activity at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total transaction of $484,220.00. Following the sale, the director now directly owns 77,218 shares in the company, valued at $18,695,249.98. The trade was a 2.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $236.77, for a total value of $1,896,290.93. Following the transaction, the chief executive officer now owns 455,472 shares of the company's stock, valued at approximately $107,842,105.44. This trade represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,940 shares of company stock worth $9,164,385. 0.71% of the stock is currently owned by company insiders.

About ResMed

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.