Banque Pictet & Cie SA Takes Position in ResMed Inc. (NYSE:RMD)

Banque Pictet & Cie SA acquired a new stake in ResMed Inc. (NYSE:RMD) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 18,450 shares of the medical equipment provider’s stock, valued at approximately $4,219,000.

Several other large investors have also made changes to their positions in the business. Ascent Group LLC boosted its holdings in shares of ResMed by 1.7% in the 3rd quarter. Ascent Group LLC now owns 2,924 shares of the medical equipment provider’s stock valued at $714,000 after acquiring an additional 48 shares during the last quarter. SkyView Investment Advisors LLC boosted its holdings in ResMed by 2.0% during the third quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider’s stock worth $637,000 after buying an additional 51 shares in the last quarter. Wedmont Private Capital boosted its holdings in ResMed by 2.6% during the fourth quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider’s stock worth $475,000 after buying an additional 52 shares in the last quarter. Concurrent Investment Advisors LLC boosted its holdings in ResMed by 3.1% during the third quarter. Concurrent Investment Advisors LLC now owns 1,919 shares of the medical equipment provider’s stock worth $469,000 after buying an additional 57 shares in the last quarter. Finally, Moss Adams Wealth Advisors LLC boosted its holdings in ResMed by 2.0% during the third quarter. Moss Adams Wealth Advisors LLC now owns 3,043 shares of the medical equipment provider’s stock worth $743,000 after buying an additional 60 shares in the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

ResMed Price Performance

Shares of NYSE RMD opened at $232.93 on Friday. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 52 week low of $170.56 and a 52 week high of $263.05. The firm has a 50-day simple moving average of $238.68 and a 200-day simple moving average of $238.30. The stock has a market capitalization of $34.21 billion, a price-to-earnings ratio of 27.50, a price-to-earnings-growth ratio of 1.57 and a beta of 0.70.

ResMed (NYSE:RMD) last announced its quarterly earnings data 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 net margin of 25.34% and a return on equity of 26.17%. On average, equities analysts predict that ResMed Inc. will post 9.44 earnings per share 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 $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date is Thursday, February 13th. ResMed’s dividend payout ratio is currently 25.03%.

Analyst Ratings Changes

A number of brokerages recently issued reports on RMD. Stifel Nicolaus began coverage on shares of ResMed in a report on Friday, December 13th. They set a “hold” rating and a $250.00 price target on the stock. Piper Sandler increased their price target on shares of ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a report on Friday, January 31st. The Goldman Sachs Group began coverage on shares of ResMed in a research report on Thursday, January 16th. They set a “buy” rating for the company. Finally, Royal Bank of Canada upped their price objective on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $244.73.

Insider Activity at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total value of $491,300.00. Following the completion of the sale, the director now owns 81,218 shares of the company’s stock, valued at approximately $19,951,201.70. This represents a 2.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the transaction, the chief executive officer now directly 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,307 shares of company stock valued at $4,403,180. 0.71% of the stock is 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.