Zurcher Kantonalbank Zurich Cantonalbank Purchases 2,294 Shares of ResMed Inc. (NYSE:RMD)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of ResMed Inc. (NYSE:RMD) by 3.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 62,496 shares of the medical equipment provider’s stock after buying 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 SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. OFI Invest Asset Management acquired a new stake in shares of ResMed during the second quarter worth about $32,000. Ashton Thomas Securities LLC acquired a new stake in ResMed during the 3rd quarter worth approximately $34,000. Versant Capital Management Inc lifted its stake in ResMed by 196.7% in the second quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock valued at $35,000 after buying an additional 120 shares in the last quarter. Financial Connections Group Inc. acquired a new position in shares of ResMed in the second quarter valued at approximately $37,000. Finally, Blue Trust Inc. increased its position in shares of ResMed by 182.7% during the second quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock worth $42,000 after acquiring an additional 137 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors.

ResMed Stock Performance

NYSE RMD opened at $249.02 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 firm’s fifty day moving average price is $242.24 and its two-hundred day moving average price is $225.66. The firm has a market capitalization of $36.56 billion, a P/E ratio of 32.98, a price-to-earnings-growth ratio of 1.81 and a beta of 0.69. ResMed Inc. has a 1 year low of $156.39 and a 1 year high of $260.49.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.17. The company had revenue of $1.22 billion during 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%. The business’s revenue was up 11.1% on a year-over-year basis. During the same period last year, the firm posted $1.64 earnings per share. As a group, research analysts anticipate that ResMed Inc. will post 9.28 EPS for the current year.

ResMed Announces Dividend

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

Wall Street Analysts Forecast Growth

RMD has been the topic of several research reports. Baird R W raised shares of ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. Robert W. Baird boosted their price target on ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Wolfe Research reiterated an “underperform” rating and set a $180.00 price objective on shares of ResMed in a report on Wednesday, September 18th. Bank of America lifted their target price on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, ResMed presently has a consensus rating of “Moderate Buy” and an average price target of $225.70.

Insider Buying and Selling

In other news, Director Witte Jan De sold 796 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total value of $198,052.76. Following the completion of the sale, the director now owns 6,723 shares of the company’s stock, valued at approximately $1,672,749.63. The trade was a 10.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael J. Farrell sold 14,683 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $248.38, for a total transaction of $3,646,963.54. Following the transaction, the chief executive officer now directly owns 464,169 shares in the company, valued at approximately $115,290,296.22. This represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,334 shares of company stock valued at $16,379,713. Insiders own 0.71% of the company’s stock.

ResMed 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.