Zurcher Kantonalbank Zurich Cantonalbank Has $15.26 Million Holdings in ResMed Inc. (NYSE:RMD)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of ResMed Inc. (NYSE:RMD) by 3.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 62,496 shares of the medical equipment provider’s stock after buying an additional 2,294 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in ResMed were worth $15,257,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in shares of ResMed in the 3rd quarter valued at approximately $34,000. OFI Invest Asset Management bought a new position in ResMed in the second quarter valued at approximately $32,000. Versant Capital Management Inc raised its position in ResMed by 196.7% during the second quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 120 shares in the last quarter. Financial Connections Group Inc. bought a new stake in ResMed during the second quarter worth $37,000. Finally, Blue Trust Inc. lifted its stake in 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 purchasing an additional 137 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RMD has been the subject of a number of research analyst reports. Wolfe Research reissued an “underperform” rating and set a $180.00 price target on shares of ResMed in a report on Wednesday, September 18th. Baird R W raised ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. Royal Bank of Canada raised their price target on shares of ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. KeyCorp upped their price objective on shares of ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Finally, Robert W. Baird increased their price objective on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $225.70.

Insider Transactions at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $239.90, for a total value of $479,800.00. Following the transaction, the director now owns 87,204 shares in the company, valued at $20,920,239.60. The trade was a 2.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Witte Jan De sold 796 shares of ResMed stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total value of $198,052.76. Following the completion of the transaction, the director now directly owns 6,723 shares of the company’s stock, valued at approximately $1,672,749.63. This trade represents a 10.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 68,334 shares of company stock worth $16,379,713. Company insiders own 0.71% of the company’s stock.

ResMed Price Performance

Shares of NYSE:RMD opened at $249.02 on Friday. The firm has a market cap of $36.56 billion, a PE ratio of 32.98, a price-to-earnings-growth ratio of 1.81 and a beta of 0.69. ResMed Inc. has a 52 week low of $156.39 and a 52 week high of $260.49. The firm’s fifty day moving average is $242.24 and its 200-day moving average is $225.66. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92.

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, beating 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 during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the prior year, the firm posted $1.64 earnings per share. The business’s quarterly revenue was up 11.1% on a year-over-year basis. Sell-side analysts predict that ResMed Inc. will post 9.28 earnings per share for the current year.

ResMed Dividend Announcement

The company 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 0.85%. ResMed’s payout ratio is 28.08%.

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.