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

J. Safra Sarasin Holding AG decreased its position in shares of ResMed Inc. (NYSE:RMD) by 87.3% during the fourth quarter, according to 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 period. J. Safra Sarasin Holding AG’s holdings in ResMed were worth $377,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. SJS Investment Consulting Inc. boosted its holdings in shares of ResMed by 1,433.3% in the 3rd quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 86 shares in the last quarter. ORG Partners LLC raised its holdings in shares of ResMed by 181.6% during the 4th quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock valued at $26,000 after buying an additional 69 shares in the last quarter. Imprint Wealth LLC purchased a new position in shares of ResMed during the 3rd quarter valued at about $26,000. WFA of San Diego LLC bought a new stake in ResMed in the 2nd quarter worth approximately $26,000. Finally, Sunbelt Securities Inc. bought a new stake in ResMed in the 3rd quarter worth approximately $31,000. Institutional investors own 54.98% of the company’s stock.

Insider Transactions at ResMed

In other ResMed news, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $273.78, for a total value of $1,366,435.98. Following the transaction, the chief executive officer owned 466,223 shares in the company, valued at approximately $127,642,532.94. The trade was a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total transaction of $450,000.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 23,023 shares of company stock worth $5,843,111 in the last 90 days. Corporate insiders own 0.65% of the company’s stock.

ResMed Stock Performance

Shares of RMD stock opened at $224.23 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.32 and a current ratio of 3.06. ResMed Inc. has a fifty-two week low of $199.92 and a fifty-two week high of $293.81. The stock has a 50 day moving average price of $247.09 and a two-hundred day moving average price of $253.74. The company has a market capitalization of $32.67 billion, a P/E ratio of 22.18, a PEG ratio of 1.48 and a beta of 0.93.

ResMed (NYSE:RMD) last issued its earnings results on Friday, January 30th. The medical equipment provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.13. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter last year, the business earned $2.43 earnings per share. The business’s revenue was up 11.0% on a year-over-year basis. Analysts expect that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Thursday, February 12th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Thursday, February 12th. ResMed’s dividend payout ratio (DPR) is 23.74%.

Wall Street Analysts Forecast Growth

RMD has been the topic of a number of recent research reports. 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. Wall Street Zen lowered shares of ResMed from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Piper Sandler upped their price objective on shares of ResMed from $270.00 to $275.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Citigroup lifted their target price on shares of ResMed from $330.00 to $345.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Finally, Weiss Ratings downgraded shares of ResMed from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, March 19th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus 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.