ResMed Inc. (NYSE:RMD) Shares Sold by Zurich Insurance Group Ltd FI

Zurich Insurance Group Ltd FI lowered its stake in shares of ResMed Inc. (NYSE:RMD) by 5.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 382,072 shares of the medical equipment provider’s stock after selling 22,867 shares during the period. Zurich Insurance Group Ltd FI’s holdings in ResMed were worth $93,271,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RMD. Cetera Advisors LLC acquired a new position in ResMed during the first quarter worth $257,000. CWM LLC boosted its stake in ResMed by 10.1% during the second quarter. CWM LLC now owns 5,707 shares of the medical equipment provider’s stock worth $1,092,000 after buying an additional 524 shares during the last quarter. Simplicity Wealth LLC lifted its stake in shares of ResMed by 3.3% in the 2nd quarter. Simplicity Wealth LLC now owns 3,606 shares of the medical equipment provider’s stock valued at $690,000 after purchasing an additional 115 shares during the last quarter. QRG Capital Management Inc. lifted its stake in shares of ResMed by 4.5% in the 2nd quarter. QRG Capital Management Inc. now owns 1,291 shares of the medical equipment provider’s stock valued at $247,000 after purchasing an additional 56 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of ResMed by 36.1% in the 2nd quarter. SG Americas Securities LLC now owns 26,717 shares of the medical equipment provider’s stock valued at $5,114,000 after purchasing an additional 7,092 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insiders Place Their Bets

In other ResMed news, CFO Brett Sandercock sold 1,000 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $246.42, for a total transaction of $246,420.00. Following the sale, the chief financial officer now owns 96,812 shares in the company, valued at $23,856,413.04. This represents a 1.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $248.38, for a total value of $3,646,963.54. Following the completion of the transaction, the chief executive officer now owns 464,169 shares in the company, valued at approximately $115,290,296.22. The trade was a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 68,408 shares of company stock worth $16,409,632 in the last quarter. 0.71% of the stock is owned by company insiders.

Analysts Set New Price Targets

RMD has been the topic of several recent analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research note on Friday, October 25th. Royal Bank of Canada upped their price target on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Bank of America upped their price target on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. KeyCorp upped their price target on ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, Wolfe Research reaffirmed an “underperform” rating and issued a $180.00 price target on shares of ResMed in a research note on Wednesday, September 18th. One analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $225.70.

ResMed Price Performance

RMD stock opened at $241.28 on Friday. 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 company has a market capitalization of $35.42 billion, a PE ratio of 31.96, a P/E/G ratio of 1.79 and a beta of 0.68. ResMed Inc. has a 12-month low of $162.05 and a 12-month high of $260.49. The business’s fifty day moving average price is $242.30 and its 200 day moving average price is $226.46.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.17. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the business earned $1.64 EPS. ResMed’s revenue was up 11.1% on a year-over-year basis. On average, sell-side analysts anticipate that ResMed Inc. will post 9.28 EPS for the current year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th will be issued a dividend of $0.53 per share. The ex-dividend date is Thursday, November 7th. This represents a $2.12 annualized dividend and a yield of 0.88%. ResMed’s dividend payout ratio (DPR) is 28.08%.

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.