ResMed Inc. (NYSE:RMD) Position Boosted by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in ResMed Inc. (NYSE:RMD - Free Report) by 3.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 62,496 shares of the medical equipment provider's stock after acquiring an additional 2,294 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in ResMed were worth $15,257,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in RMD. Bank of New York Mellon Corp lifted its stake in shares of ResMed by 51.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider's stock valued at $1,105,022,000 after purchasing an additional 1,959,642 shares in the last quarter. Marshall Wace LLP purchased a new position in ResMed in the second quarter valued at approximately $77,285,000. Greenvale Capital LLP lifted its position in ResMed by 61.1% during the second quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider's stock valued at $138,780,000 after buying an additional 275,000 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in ResMed by 48.3% during the second quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider's stock valued at $141,694,000 after buying an additional 241,195 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in ResMed during the second quarter worth approximately $42,036,000. Hedge funds and other institutional investors own 54.98% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Baird R W raised shares of ResMed to a "strong-buy" rating in a research note on Tuesday, September 24th. Needham & Company LLC reissued a "hold" rating on shares of ResMed in a research report on Friday, October 25th. KeyCorp upped their target price on ResMed from $251.00 to $266.00 and gave the stock an "overweight" rating in a research report on Friday, October 25th. Royal Bank of Canada increased their target price on ResMed from $224.00 to $232.00 and gave the company a "sector perform" rating in a research note on Friday, October 25th. Finally, Wolfe Research reissued an "underperform" rating and set a $180.00 price target on shares of ResMed in a research report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, ResMed currently has an average rating of "Moderate Buy" and an average price target of $225.70.

Insiders Place Their Bets

In other ResMed news, Director Witte Jan De sold 796 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total value of $198,052.76. Following the sale, the director now directly owns 6,723 shares of the company's stock, valued at $1,672,749.63. This trade represents a 10.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Kaushik Ghoshal sold 5,000 shares of the business's stock in a transaction on 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 transaction, the insider now directly owns 21,788 shares of the company's stock, valued at approximately $5,502,777.28. This trade represents a 18.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,334 shares of company stock valued at $16,379,713 over the last 90 days. 0.71% of the stock is owned by company insiders.

ResMed Stock Down 0.1 %

Shares of RMD traded down $0.31 during trading on Friday, reaching $249.02. The company's stock had a trading volume of 351,327 shares, compared to its average volume of 842,042. ResMed Inc. has a twelve month low of $156.39 and a twelve month high of $260.49. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The company has a market cap of $36.56 billion, a price-to-earnings ratio of 32.98, a P/E/G ratio of 1.81 and a beta of 0.69. The company has a fifty day moving average of $242.24 and a two-hundred day moving average of $225.66.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.17. The firm had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. ResMed's revenue for the quarter 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. On average, sell-side analysts predict that ResMed Inc. will post 9.28 EPS for the current fiscal year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.85%. The ex-dividend date is Thursday, November 7th. ResMed's dividend payout ratio (DPR) is presently 28.08%.

ResMed Company 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.