Bank Julius Baer & Co. Ltd Zurich Purchases New Position in ResMed Inc. (NYSE:RMD)

Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of ResMed Inc. (NYSE:RMD) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,060 shares of the medical equipment provider’s stock, valued at approximately $267,000.

A number of other institutional investors also recently made changes to their positions in RMD. True Wealth Design LLC lifted its holdings in 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 during the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of ResMed during the third quarter worth $34,000. BankPlus Trust Department acquired a new stake in shares of ResMed during the fourth quarter worth $44,000. Rosenberg Matthew Hamilton bought a new stake in shares of ResMed in the fourth quarter valued at about $54,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of ResMed in the fourth quarter valued at about $67,000. Institutional investors own 54.98% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on RMD. The Goldman Sachs Group began coverage on shares of ResMed in a research note on Thursday, January 16th. They issued a “buy” rating for the company. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research note on Friday, January 31st. Stifel Nicolaus reduced their price target on ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a research report on Wednesday, March 5th. Piper Sandler lifted their price objective on ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Finally, StockNews.com lowered ResMed from a “buy” rating to a “hold” rating in a report on Friday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $243.82.

Insider Buying and Selling

In other ResMed news, insider Kaushik Ghoshal sold 9,113 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the sale, the insider now directly owns 9,725 shares of the company’s stock, valued at $2,289,265. The trade was a 48.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total transaction of $484,220.00. Following the transaction, the director now directly owns 77,218 shares of the company’s stock, valued at $18,695,249.98. The trade was a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,186 shares of company stock worth $4,996,646 in the last 90 days. Insiders own 0.71% of the company’s stock.

ResMed Stock Up 2.1 %

RMD stock opened at $237.42 on Tuesday. The firm has a 50-day moving average price of $236.86 and a 200-day moving average price of $240.13. ResMed Inc. has a 12 month low of $172.19 and a 12 month 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 stock has a market capitalization of $34.87 billion, a P/E ratio of 28.03, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating the consensus estimate 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, equities research analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is 25.03%.

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.