J. Safra Sarasin Holding AG Sells 10,794 Shares of ResMed Inc. $RMD

J. Safra Sarasin Holding AG lessened its holdings in shares of ResMed Inc. (NYSE:RMD) by 87.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,565 shares of the medical equipment provider’s stock after selling 10,794 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in ResMed were worth $377,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Terra Nova Asset Management LLC boosted its holdings in ResMed by 0.6% in the third quarter. Terra Nova Asset Management LLC now owns 7,805 shares of the medical equipment provider’s stock valued at $2,136,000 after acquiring an additional 46 shares in the last quarter. NBT Bank N A NY raised its holdings in ResMed by 22.9% in the 3rd quarter. NBT Bank N A NY now owns 252 shares of the medical equipment provider’s stock worth $69,000 after purchasing an additional 47 shares in the last quarter. OFI Invest Asset Management lifted its position in shares of ResMed by 10.4% in the 3rd quarter. OFI Invest Asset Management now owns 509 shares of the medical equipment provider’s stock worth $139,000 after purchasing an additional 48 shares during the period. IMA Advisory Services Inc. lifted its position in shares of ResMed by 52.7% in the 3rd quarter. IMA Advisory Services Inc. now owns 139 shares of the medical equipment provider’s stock worth $38,000 after purchasing an additional 48 shares during the period. Finally, Occidental Asset Management LLC boosted its stake in shares of ResMed by 3.0% during the 4th quarter. Occidental Asset Management LLC now owns 1,699 shares of the medical equipment provider’s stock valued at $409,000 after purchasing an additional 49 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Insider Activity at ResMed

In other news, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $273.78, for a total value of $1,366,435.98. Following the sale, the chief executive officer directly owned 466,223 shares of the company’s stock, valued at $127,642,532.94. The trade was a 1.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $225.00, for a total value of $450,000.00. The disclosure for this sale is available in the SEC filing. Insiders have sold 23,023 shares of company stock valued at $5,843,111 over the last quarter. Company insiders own 0.65% of the company’s stock.

ResMed Stock Up 0.6%

NYSE:RMD opened at $224.23 on Friday. The firm’s 50-day moving average price is $247.09 and its 200-day moving average price is $253.74. The company has a market capitalization of $32.67 billion, a PE ratio of 22.18, a P/E/G ratio of 1.48 and a beta of 0.93. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.06 and a quick ratio of 2.32. ResMed Inc. has a 1-year low of $199.92 and a 1-year high of $293.81.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Friday, January 30th. The medical equipment provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.13. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period last year, the company posted $2.43 EPS. ResMed’s revenue was up 11.0% on a year-over-year basis. On average, equities analysts predict that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Thursday, February 12th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Thursday, February 12th. ResMed’s dividend payout ratio (DPR) is presently 23.74%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on RMD shares. UBS Group reiterated a “buy” rating and set a $345.00 price target on shares of ResMed in a research report on Friday, December 12th. Royal Bank Of Canada raised their price objective on shares of ResMed from $311.00 to $314.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. Wall Street Zen cut ResMed from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Robert W. Baird set a $281.00 target price on ResMed in a report on Friday, January 30th. Finally, Wells Fargo & Company increased their target price on ResMed from $265.00 to $270.00 and gave the stock an “equal weight” rating in a research report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $299.27.

About ResMed

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.